This course examines the U.S. federal tax system as it relates to property transactions of business owners and shareholders. Topics include cost recovery, such as depreciation, amortization, and depletion; calculation of realized versus recognized gains and losses; evaluation of the potential tax effects of nontaxable exchanges; and the combining, or netting, gains and losses that are different in nature. Assignments facilitate self-discovery of knowledge and development of a variety of professional skills.
Este curso faz parte do Programa de cursos integrados U.S. Federal Taxation
Federal Taxation II: Property Transactions of Business Owners and Shareholders
oferecido por
Programa - O que você aprenderá com este curso
Semana
1INTRODUCTION TO THE COURSE
In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.
1 video (Total 2 min), 5 leituras, 1 teste
1 vídeos
5 leituras
A Note from Your Instructor10min
Syllabus15min
About the Discussion Forums10min
Update Your Profile10min
Build a Learning Community with Social Media10min
1 exercício prático
Orientation Quiz10min
Module 1 Cost Recovery: Depreciation
In this module, you will be introduced to concepts of cost recovery used by U.S. Taxpayers. The nature of property will be discussed designating the difference between realty and personalty. The Modified Accelerated Cost Recovery System (MACRS) will be explained along with its classification of both real and personal assets as well as applicable conventions used in depreciating property. Finally, learners will discover how to use the tax depreciation tables to aid in the determination of allowable cost recovery deductions.
5 videos (Total 59 min), 2 leituras, 6 testes
5 videos
Overview of Depreciation14min
Using the Depreciation Tables8min
Examples Using the Depreciation Tables7min
Depreciation of Business Use Realty13min
2 leituras
Module 1 Overview and Resources10min
IRS Tables15min
6 exercícios práticos
Lesson 1.1 Knowledge Check10min
Lesson 1.2 Knowledge Check10min
Lesson 1.3 Knowledge Check10min
Lesson 1.4 Knowledge Check10min
Lesson 1.5 Knowledge Check10min
Module 1 Quiz30min
Semana
2Module 2 Depreciation: Accelerated Depreciation and Listed Property
In this module, you will take a deeper dive into concepts of cost recovery used in the U.S. Federal tax structure. This deeper dive begins with a discussion about the two different types of additional first year depreciation, known as Section 179 depreciation and "bonus" depreciation. Next, you will learn about listed property, which faces limitations on the deductibility.
4 videos (Total 41 min), 1 leitura, 5 testes
4 videos
Section 179 Election15min
Listed Property4min
Luxury Auto Limitations11min
1 leituras
Module 2 Overview and Resources10min
5 exercícios práticos
Lesson 2.1 Knowledge Check10min
Lesson 2.2 Knowledge Check10min
Lesson 2.3 Knowledge Check10min
Lesson 2.4 Knowledge Check10min
Module 2 Quiz30min
Semana
3Module 3 Amortization and Depletion
In this module, you will take a look at the remaining concepts of cost recovery used in the U.S. Federal tax structure. In the previous module, you learned about depreciation taken on tangible personal and real property. In this module, you will learn how intangible personal and real property costs are recovered through amortization, and which kinds of intangible property are eligible to be amortized. You will also learn how natural resource costs are recovered through depletion deductions. Finally, you will learn about the non-deductibility of start-up expenditures and their amortization.
5 videos (Total 38 min), 2 leituras, 5 testes
5 videos
Amortization12min
Reporting Cost Recovery on Form 456210min
Depletion13min
Tour of Property A ("Lakeside Restaurant"min
Tour of Property B ("Hillside Office")1min
2 leituras
Module 3 Overview and Resources10min
IRS Table of Class Lives15min
4 exercícios práticos
Lesson 3.1 Knowledge Check10min
Lesson 3.2 Knowledge Check10min
Lesson 3.3 Knowledge Check10min
Module 3 Quiz30min
Semana
4Module 4 Property Transactions: Gains, Losses, and Adjusted Basis
In this module, you will take a deep dive into property transactions, specifically disposals, and their tax consequences under U.S. federal tax law. First, we’ll begin by discussing the economic concept of amount realized. Next, we’ll discuss differences between the amount and gains or losses realized versus recognized, such as deferred or postponed gains and disallowed losses. Last, we’ll discuss the three main ways property basis is established, namely cost basis, gift basis, and inheritance basis.
5 videos (Total 53 min), 1 leitura, 6 testes
5 videos
Basis and Realized Gains or Losses7min
Adjusted Basis: Cost Basis11min
Adjusted Basis: Gift Basis14min
Adjusted Basis: Inheritance Basis10min
1 leituras
Module 4 Overview and Resources10min
6 exercícios práticos
Lesson 4.1 Knowledge Check10min
Lesson 4.2 Knowledge Check10min
Lesson 4.3 Knowledge Check10min
Lesson 4.4 Knowledge Check10min
Lesson 4.5 Knowledge Check10min
Module 4 Quiz30min
4.9
8 avaliaçõesMelhores avaliações
por GG•Dec 23rd 2017
Very informative and nicely presented course about the US taxation regulations. One of my favorites.
Instrutores
Matthew Hutchens
Lecturer of AccountancyDepartment of Accountancy
Petro Lisowsky, PhD, CPA
Associate Professor of AccountancyCollege of Business: Department of Accountancy
Start working towards your Master's degree
This curso is part of the 100% online Master of Science in Accountancy (iMSA) from University of Illinois at Urbana-Champaign.
If you are admitted to the full program, your courses count towards your degree learning.
Sobre University of Illinois at Urbana-Champaign
The University of Illinois at Urbana-Champaign is a world leader in research, teaching and public engagement, distinguished by the breadth of its programs, broad academic excellence, and internationally renowned faculty and alumni. Illinois serves the world by creating knowledge, preparing students for lives of impact, and finding solutions to critical societal needs.
Sobre o Programa de cursos integrados U.S. Federal Taxation
This Specialization introduces the U.S. federal tax system via conceptual and applied material. Learners will be able to apply basic principles to settings involving individuals, corporations, and other business entities, complete key components of major, individual U.S. federal tax returns, and identify tax-related strategies and implications of structuring transactions and organizations.
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