An introduction to the federal income tax system. Topics include items of inclusion and exclusion from gross income, deductions from gross income, capital gains and losses, basic tax accounting, and the identification of income to the appropriate taxpayer. The course gives consideration to the private attorney’s role in administering the tax law and in advising clients on the interaction of the tax law with their businesses, investments, and personal activities. This course must be taken in the fall or spring semester of the student’s second year or in the fall semester of the student’s third year.
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