Understanding Federal Income Taxation

This Understanding treatise is designed to supplement any federal income taxation casebook. Divided into five distinct sections, Understanding Federal Income Taxation addresses in detail the fundamental questions raised in individual income tax courses: What items of economic income or gain are includable in gross income? What expenses are deductible? When does a taxpayer include items of income or deduct expenses? Who is the taxpayer, i.e., who must include a specific item of income and who is entitled to deduct an expense? What is the character of an item of income and loss?Each section contains helpful overviews of all relevant topics. Throughout the overviews, the authors include numerous concrete examples demonstrating the application of specific concepts, statutes, regulations, and cases. In addition, each overview contains synopses of leading cases.