ACT 640 - Taxation of Property Trans

(3 credits)

Prerequisite(s): ACT 621 or equivalent; must be admitted to the College of Business as a degree-seeking graduate student to be eligible for this course. Examines federal income tax consequences of sales, exchanges, and other dispositions of property and the fundamental tax issues presented by these transactions. Topics include the concept of realization, identifying the taxable event, debt encumbered property, determining basis and adjusted basis, amount realized and gain or loss, at-risk rules, passive activity and other limitations on the use of losses, distinguishing capital gain from ordinary income, non-recognition transactions including like-kind exchanges, and involuntary conversions and replacements. Introduces depreciation and amortization.

Click here for the schedule of courses