West's Federal Taxation: Comprehensive volume
Doing ones taxes either individual or business can be a tedious and ominous task, The West Federal Taxation Series can help to reduce anxiety and increase results by providing the necessary information in an understandable and approachable format. Each book in the series will serve as an invaluable resource in cracking the complex and often confusing Internal Revenue Code.
-- Each book provides comprehensive and up-to-date information on tax code, regulations and legislation.
-- Each offers numerous examples and exhibits, including completed tax forms to aid in the understanding of the tax topic at hand.
-- Written by the foremost experts in each of their respective fields in tax accounting.
-- The #1 market-leading educational series for 24 consecutive years!
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An Introduction to Taxation and Understanding the Federal
Depletion Methods 721
The Percentage of Completion
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accounting accrual adjusted basis allocated allowed alternative minimum tax apply Assume benefits bonds capital asset capital loss carryback carryover casualty loss Chapter charitable contribution computed corporation corporation's cost recovery debt December 31 depreciation determining discussed distribution dividend earned election employee EXAMPLE exemption expenditures fair market value Federal income tax filing gain or loss gains and losses gross income holding period income tax purposes incurred individual investment itemized deductions land LEARNING OBJECTIVE limited loan long-term capital gain medical expenses method nonrecourse debt nontaxable ordinary income paid partner partnership interest passive activity passive income passive loss payments percent purchased qualified real estate realized gain recapture received recognized gain redemption regular income tax rental residence rules salary sells shareholder shares sold standard deduction tax consequences tax credit tax liability tax rate tax return taxable income trade or business transaction transfer TurboTax USTC