Bus. 225K - Advanced Individual Taxes

Professor Annette Nellen

Fall 2008

Reading Materials

Section 469 Practice Set - Due 10/11/08

Section 163 Practice Set - Due 10/25/08

AMT Practice Set - Due 11/8/08

NOL Practice Set - Due 11/15/08

Section 469 In-class questions + answers

Links for primary authority and on-line services.

	Please see syllabus for the precise reading assignment and the date. Some materials can be read online. You will need to print the Code sections, legislative histories and forms and bring them to class with you. There will be additional reading materials handed out in class and a few more added to this page for later reading assignments.
	Passive Activity Loss Limitation - §469 IRS Pub. 925 - Passive Activity and At-Risk Rules (only need to print pages 1 - 24; or read online) IRC §469 Regulations (obtain from RIA Checkpoint or CCH) Joint Committee on Taxation, Blue Book of the Tax Reform Act of 1986, text pages 208-254 1993 legislative history to IRC §469(c)(7) on real estate professionals Form 8582 - Passive Activity Loss Limitations: (1) form (2) instructions Rev. Rul. 92-92 on treatment of COD income under §469 Notice 2008-64 - a reporting proposal (IRB pages 268-270) IRS Passive Activity Loss Audit Technique Guide Avoiding the Self-Rental Trap by Anthony Constantine, AICPA Corporate Taxation Insider, 8/28/07
	Interest Expense Limitations IRC §163 - print and bring to class with you Joint Committee on Taxation, Blue Book of the Tax Reform Act of 1986, text pages 262-270 Interest Tracing Regulations and Preamble - §1.163-8T Notice 89-35 and FSA 200011025 on 1.163-8T IRS Pub. 535 - Business Expenses (just look at pages 10 - 15 on interest expense) IRC §221 - Interest on Education Loans
	Investment Interest Limitations - §163(d) Form 4952 - Investment Interest Expense Deduction Reg §1.163(d)-1 - elections IRS Pub. 550 - Investment Income and Expenses (just read pages 31-34) Rev. Rul. 93-68 Rev. Rul. 95-16 Rev. Rul. 2008-12 - limited partner + amplified by Rev. Rul. 2008-38
	Home Mortgage Interest & Personal Interest - §163(a), §1.163-9T, §1.163-10T IRS Pub. 936 - Home Mortgage Interest Deduction (only need to print pages 1 - 12; or read online) Legislative history to the Revenue Reconciliation Act of 1987 that changed the mortgage interest deduction rules Personal Interest and Home Mortgage Regulations and Preamble - §1.163-9T & §1.163-10T Notice 88-74 Pau, TC Memo 1997-43 - debt over $1 million to acquire home (but also see §163(h)(3) definitions and Pub 936 (although not binding authority)) Form 1098 (just print page 4 - 6) Rev. Rul. 87-22 on points Rev. Proc. 87-15 on points Rev. Proc. 94-27 on points Rev. Rul. 92-91 on treatment of refund from adjustable rate mortgage Information on home equity loans from the FDIC
	Alternative Minimum Tax - §§53 - 59 Introduction - Deloitte webcast for tax students (49 minutes) IRC §§53-59 Joint Committee on Taxation, Blue Book of the Tax Reform Act of 1986, text pages 429-473 (skip the part on the corporate adjustments) Regulations Form 6251 - Alternative Minimum Tax - Individuals: (1) form (2) instructions Form 8801 - Credit for Prior Year Minimum Tax: (1) form (2) instructions Rev. Rul. 2005-11 - home mortgage refinancings IRS online calculator tool (fyi only)
	Net Operating Losses - §172 IRS Pub 536 - Net Operating Losses (NOLs) for Individuals (only need to print page 1 - 17; or read online) IRC §172 (excerpt)

Annette Nellen November 22, 2008