TAILIEUCHUNG - Lecture Taxation of individuals and business entities 2015 - Chapter 10: Property dispositions

In this chapter students will be able to: Calculate the amount of gain or loss recognized on the disposition of assets used in a trade or business, describe the general character types of gain or loss recognized on property dispositions, explain the rationale for and calculate depreciation recapture,. | Chapter 10 Property Dispositions Learning Objectives Calculate the amount of gain or loss recognized on the disposition of assets used in a trade or business Describe the general character types of gain or loss recognized on property dispositions Explain the rationale for and calculate depreciation recapture Describe the tax treatment of unrecaptured §1250 gains and determine the character of gains on property sold to related persons Describe the tax treatment of §1231 gains or losses, including the §1231 netting process Explain common exceptions to the general rule that realized gains and losses are recognized currently Dispositions Amount Realized Amount realized by a taxpayer from the sale or other disposition of an asset is everything of value received from the buyer less any selling costs Taxpayers typically receive cash when they sell property, they may also accept marketable securities, notes receivable, similar assets, or any combination of these items as payment Dispositions

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• Business entities
• Individual taxation
• Multijurisdictional taxation
• Transfer taxes
• Property dispositions
• Depreciation recapture
• Urban market business entities
• Competitiveness of urban market business entities
• Market business entities
• Organization and management capacity
• Finance competence and business performance
• Essentials of taxation
• Business tax credits
• Corporate alternative minimum tax
• Limited liability entities
• Profits and distributions
• Entity legal classification
• Nontax characteristics
• Business income
• Accounting methods
• Operating partnerships
• Flow through entities
• The financial statements
• Business deductions
• Financial statements
• Loss limitations
• Property transactions
• Corporate taxation
• Nonliquidating distributions
• Corporate formation
• Taxable acquisitions
• Partnership interests
• Partnership distributions
• Operating distributions
• Post termination transition period
• Local taxes
• Income taxes
• Multinational transactions
• Taxing multinational transactions
• Wealth planning
• Tax rate structures
• Federal taxes
• Tax compliance
• Tax authorities
• Tax planning strategies
• Related limitations
• Individual income tax
• Filing status
• Gross income
• Recognize income
• Individual deductions
• Deductions for AGI