Corn Products Refining Co. v. Commissioner, 350 U.S. 46 (1955)
Questions you should be able to answer by end of course - here
Be sure to review them weekly to check your understanding of course materials and follow up with more studying if you don't know the answer
Focus on understanding the materials. Ask yourself why a rule works the way it does (what is the logic), who it is relevant to and why, how it works, etc.
You can get the list of questions in word (rather than pdf) on D2L
Textbook - Federal Taxation of Property Transactions by Cameron, published by Lexis-Nexis; ISBN 9781593458867. Available in the Spartan Bookstore. You may also find it online to purchase.
Desire2Learn: Instructions Log-in page
List of IRC provisions pertaining to property (we will not cover all of these; the purpose of this list is to give you a sense of how these rules fit within the structure of the IRC and the range of tax rules involving property)
BNA Tax Management Portfolions - Federal and Multistate (need to enter your library card number and pin)
Textbook - pages 351-352, 359-361, 375-392
Reference materials:
IRS Publication 946, How to Depreciate Property - see the Rev. Proc. 87-56 tables starting on page 103
Treasury Department, Report to The Congress on Depreciation Recovery Periods and Methods, 7/00; read pages 2 - 3 of the report
Textbook pages 305 - 332, 364-368
Crane v. Commissioner, 331 US 1 (1947) - Textbook page 222-228
“Tangible Guidance On Intangibles – New Section 263 Regulations Provide Taxpayers With Certainty,” Business Entities, Fall 2004, Purcell and Nellen - posted at the Desire2Learn site under "additional reading" (under Content tab)
CCH, Briefing on Repair Regulations (Nov 2012)
Textbook - pages 23 - 46, 135 - 136, 721-722
Textbook - pages 179 -181, 199 - 202, 210 - 217, 221 - 229, 235 - 241,260 - 264, 287-288, 298 - 302
Review IRC Sections 108 and 1017 (obtain from RIA or CCH)
IRS Publication 4681, Cancelled Debts, Foreclosures, Repossessions and Abandonments (for individuals) (reference only; this is a layman's explanation of several topics in Week 4 reading)
FTB, Foreclosures
Summary/review of interaction of CA and federal rules - FTB February 2010 Newsletter (pages 9 - 11)
FTB, Foreclosures and Short Sales (skim)
Capital assets
Textbook - pages 69 - 80, 98 - 133
IRS Tax Tips - Ten Important Facts About Capital Gains and Losses
IRC Provisions on Capital Assets and Gains (for reference, but be sure to read Section 1221)
Corn Products Refining Co. v. Commissioner, 350 U.S. 46 (1955)
Arkansas Best Corp. v. Commissioner, 485 U.S. 212 (1988)
IRS Information Letter 2008-0042 - ordinary income versus capital gain income
Intangibles - Sections 197 and 167
Textbook - pages 428 - 440
IRC & Regulations (excerpt) on Intangibles [reference]
Textbook - pages 47-67, 562-568, 578-581, 843-847, 852-860, 896-897
References:
IRC & Regulations (267, 453, 1038, 1060, 1091, 1239) [reference]
Form 6252 (installment sales)
Textbook - pages 451-453, 462-465, 467-469, 483-494,506-508, 533-541,544-547
References
Section 121 regulations (and preambles): TD 9030 and TD 9152
Overview of Section 1031 like-kind exchanges from the IRS + link to Form 8824
Tax Gap Issues
Nellen, Property Transactions of Individuals Can Contribute to the Tax Gap, AICPA Tax Insider, 9/13/07
GAO, Capital Gains Tax Gap (6/06)
GAO, Testimony on Tax Gap (3/07) - page 17 only
California Property Taxes
LAO - Understanding California's Property Taxes (2012)
BOE Pub 29, California Property Tax: An Overview (Nov 2012) - skim
Session 10 (2/27/13) - Final Exam
Professor Annette Nellen January 21, 2013