Law 647: Income Taxation

This is the introductory course in federal income taxation. Topics covered may include, for example, the definition of gross income, the determination of permissible deductions from gross income, timing issues, and the taxation of property transactions. The course will also address various tax policy issues. The principal source of law is the Internal Revenue Code and its accompanying regulations, and the course therefore also serves as an introduction to statutory reading and analysis. 

Sequence and Prerequisites: No prerequisites. This course is a prerequisite for a number of advanced tax courses.

Evaluation: Final examination