Federal Income Taxation (Casebook)

This text's unique, flexible structure provides solid coverage of the rudiments of the field while allowing instructors to integrate additional, in-depth material of their choice. More than 100 problems throughout Federal income Taxation challenge students to apply theory to specific, realistic situations. The "core" text covers the leading cases and explains the substantive tax law that is essential to a basic understanding of federal income tax law and principles. Meanwhile, "cells" offer supplemental material to the core by presenting additional information and treating various topics in greater detail.

Many great features make this a valuable source for students:

• a core text (approx. 500 pages) covers leading cases and explains the substantive tax law that is essential to a basic understanding of federal income tax law and principles
• "Cells" -- self-contained, optional units at the end of each chapter -- supplement the core text by presenting additional material and treating a small number of topics in greater detail
• Notes and questions provide background information and place the cases and statutes in context
• more than 100 problems throughout the core text and cells challenge students to apply theory to specific situations
• a stellar author team brings years of scholarship and teaching experience to the material
• a detailed Teacher's Manual provides comments and suggestions for teaching both the core and the cell material as well as answers to all of the questions and problems in the casebook

• the Supreme Court's recent decision in Banks replaces the older Clarks and Kenseth cases (Chapter 10)
• in response to popular demand, Supreme Court's decision in Cottage Savings has been added as a principal case (Chapter 3, part B)
• expanded and updated coverage of the AMT (Chapter 8)
• additional coverage of statutory developments such as the election to deduct state sales taxes (in lieu of state income taxes), the treatment of contingent attorney's fees as above-the-line deductions, and the introduction of several consumer energy credits (e.g., for the purchase of hybrid cars)