The course will survey several important areas related to the federal income taxation of property transactions. Emphasis will be on federal income tax treatment of sales and other dispositions of property, including deferred payment sales and non-recognition transactions. Potential specific topics include depreciation, the effect of debt on basis and amount realized calculations, characterization, limitations on loss allowances, like kind exchanges, involuntary conversions, installment sales and leasing.
Prerequisite: Law 220 Introduction to Federal Income Taxation