Crafted specifically to reflect tax law as amended by the 2017 Tax Cuts and Jobs Act, this book facilitates comprehension and mastery of the material covered in Federal Income Taxation, a course of notorious difficulty and complexity. Enrolled students face the dual challenges of digesting intricate Internal Revenue Code provisions and grasping new concepts and principles. Achieving technical expertise inevitably requires application of the law to new and varied fact scenarios. This book employs a multiple choice format not only to present students with specific application exercises but also to give them an opportunity to harness the critically-important skill of choosing carefully when presented with several carefully-worded answer options. Students preparing for the multiple choice question component of a final examination in Federal Income Taxation will find this resource particularly useful. Addressing an extraordinarily broad range of rules and concepts generally covered in every introductory-level federal tax casebook, the text’s primary goal is to help the student achieve mastery of highly relevant but select core rules and concepts from the larger body of law. Bearing in mind that professors often employ individual questions to test a student’s ability to detect subtle differences in wording, the author has designed specific exercises in the book to reflect that approach as well, giving students meaningful exposure to exam-caliber material. The questions presented in this book include, among others, those addressing the following subjects: Alimony, Amortization, Annuities, Constructive Receipt, Current Expenses v. Capital Expenditures, Charitable Contributions, Damage Recoveries, Fringe Benefits, Like-Kind Exchanges, Medical Expenses, Personal Casualty Losses, Personal Residence Sales, Progressivity, Qualified Residence Interest, Tax Exemption, and Transfers Incident to Marriage, Separation, and Divorce. Note that each question includes a clear explanation with respect to the correct answer. Students will also note specific reference to governing provisions from the Internal Revenue Code of 1986 (as amended) and the Treasury Regulations. All sales are final.
