McGraw-Hill's Taxation of Individuals, 2016 Edition

1. An Introduction to Tax

2. Tax Compliance, the IRS, and Tax Authorities

3. Tax Planning Strategies and Related Limitations

4. Individual Income Tax Overview, Exemptions, and Filing Status

5. Gross Income and Exclusions

6. Individual Deductions

7. Investments

8. Individual Income Tax Computation and Tax Credits

9. Business Income, Deductions, and Accounting Methods

10. Property Acquisition and Cost Recovery

11. Property Dispositions

12. Compensation

13. Retirement Savings and Deferred Compensation

14. Tax Consequences of Home Ownership

McGraw-Hill’s Taxation of Individuals is organized to emphasize topics that are most important to undergraduates taking their first tax course. The first three chapters provide an introduction to taxation and then carefully guide students through tax research and tax planning. Part II discusses the fundamental elements of individual income tax, starting with the tax formula in Chapter 4 and then proceeding to more depth on individual topics in Chapters 5–7. Part III then discusses tax issues associated with business and investment activities. On the business side, it addresses business income and deductions, accounting methods, and tax consequences associated with purchasing assets and property dispositions (sales, trades, or other dispositions). For investments, it covers portfolio type investments such as stocks and bonds and business investments including loss limitations associated with these investments. Part IV is unique among tax textbooks; this section combines related tax issues for compensation, retirement savings, and home ownership.