Title 1 Individual Taxation · 7
Chapter 01 Exemptions ·················································· 9
Chapter 02 Filing Status ·············································· 12
Chapter 03 Gross Income ··········································· 14
Chapter 04 Depreciation ·············································· 33
Chapter 05 Above The Line Deductions ·················· 40
Chapter 06 Itemized Deductions ································ 47
Chapter 07 Tax Credits ················································ 71
Chapter 08 Tax Payments ··········································· 77

Title 2 Transactions in Property · 89
01 Basis of Property ························································· 91
02 Capital Gains and Losses ········································· 92
03 Sale of Business Property ········································· 94
04 Other Disposition of Property ··································· 95

Title 3 Corporations · 109
01 Introduction ································································· 111
02 Taxable Income ························································· 120
03 Contribution ································································· 137
04 Distribution ·································································· 139
05 Reorganization ··························································· 144
06 Affiliated Corporation ················································ 145
07 PHC Tax and AE Tax ············································· 146
08 Alternative Minimum Tax ········································· 149
09 Filing Procedures ······················································· 152

Title 4 Partnership · 163
01 Introduction ································································· 165
02 Contribution to a Partnership ·································· 170
03 Operations of a Partnership ···································· 171
04 Distributions from a Partnership ····························· 173
05 Sale of Partnership Interest ···································· 174

Title 5 S－Corporations · 187
01 Introduction ································································· 189
02 Tax Treatment ···························································· 190
03 Comparison of Entity Types ··································· 194

Title 6 Gift, Estate and Trust · 205
01 Gift Tax ······································································· 207
02 Estate Tax ·································································· 209
03 Income Taxation of Estates and Trusts ··············· 212
04 Exempt Organizations ··············································· 216

Title 7 Responsibilities in Tax Services · 225
01 AICPA Statement on Standards for
Tax Services ······························································ 227
02 Treasury Department Circular No.230 ·················· 230
03 Tax Preparer Requirements ···································· 242
04 Preparer Penalty ························································ 244