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hs321

This class was created by Brainscape user Tommy Boye. Visit their profile to learn more about the creator.

By: Tommy Boye
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Decks in this class (14)

Chapter 1 – Introduction To Federal Income Tax System
Which amendment adopted in 1909 f...,
What are the four goals of income...,
What is the primary goal of incom...
32  cards
Chapter 2 – Basics Of Income Taxation
What is the definition of gross i...,
What are some items that are spec...,
When does constructive receipt occur
45  cards
Chapter 3 - Gross Income Inclusions
Alimony is tax deductible by the,
Alimony is included in the gross ...,
In order for a payment to be cons...
45  cards
Chapter 4 - Exclusions From Gross Income
The value of a gift is __________...,
A gift cannot be payment for,
If you start earning income from ...
40  cards
Chapter 5 – Income Tax Deductions
The difference between trade busi...,
Deductions ____________ for trade...,
What are the three requirements f...
36  cards
Chapter 6 – Itemized Deductions
In order for a charity contributi...,
For people like you and i chairty...,
Charity contributions that cannot...
46  cards
Chapter 7 – Losses And Credits
The income tax treatment of worth...,
Losses sustained by you as a taxp...,
Losses sustained by you as a taxp...
31  cards
Chapter 8 – Depreciation
A depreciation deduction is allow...,
Can you depreciate land,
The amount of deduction you will ...
48  cards
Chapter 9 – Sales & Exchanges Of Property
Realized gain or loss formula,
Cash plus the fair market value o...,
The value of your property after ...
38  cards
Chapter 10 – Capital Gains And Losses And AMT
A capital asset is any asset othe...,
The determination of whether a ca...,
In order for you to experience a ...
35  cards
Chapter 11 – Taxation Of Life Insurance
Death benefits received on a life...,
Death benefits received on an ann...,
Regardless if someone is a primar...
34  cards
Chapter 12 – Corporations & Corporate Income Tax
The transfer of property to a cor...,
If you transfer property cash to ...,
What is the formula to determine ...
35  cards
Chapter 13 – Taxation Of Distributions From Corporations
Distributions from a corporation ...,
John is the sole shareholder of a...,
If a company pays a dividend in f...
44  cards
Chapter 14 Dash Taxation Of Partners & Partnerships
Two or more persons as co owners ...,
The actual partnership do not pay...,
What is used to determine a partn...
46  cards

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hs321

  • Class purpose General learning

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