Taxation of Individuals


Class Info

Law School: Liberty University School of Law

Course ID: LAW 591

Term: Fall 2018

Instructor: Dean Todd

My Grade Earned: A−

Books Used
  • Taxation of Individual Income by J. Martin Burke & Michael K. Friel
  • Selected Federal Taxation Statutes and Regulations by Daniel J. Lathrope

Just write all the important stuff you hear in class in the code book and underline copiously. Then buy a pack of something like these and put them in as follows:

Section List
Section #Section TopicTab ColorPage #
1TaxBlue 
1(h)Capital Gains RatesBlue18
1(j)(2)Rate TablesBlue21
1(j)(5)Maximum Zero Rate AmountBlue24
Part IVTax CreditsBlue27
55Alternative Minimum TaxBlue51
56AMT AdjustmentsBlue55
57Items of Tax Preference (for AMT)Blue58
58Denial of Certain Losses (for AMT)Blue59
61 & 62Gross IncomeGreen61
63Taxable IncomeGreen64
64 & 65Ordinary Gain & LossGreen67
67Misc. Itemized DeductionsPurple68
71Alimony PayeeGreen 
72AnnuitiesGreen 
74PrizesGreen 
101Life InsuranceGreen 
102GiftsGreen 
104Personal InjuryGreen 
105Health PlansGreen 
108Discharge of Indebtedness ExclusionsGreen 
111Tax Benefit RuleGreen 
117ScholarshipsGreen 
119Meals & Lodging Fringe BenefitsGreen 
121Sale of a Principal ResidenceGreen 
132Fringe BenefitsGreen 
161DeductionsPurple153
162Business DeductionsPale Purple153
163InterestPurple159
163(h)Personal InterestMagenta163
165LossesPurple175
166Bad DebtsPurple179
167DepreciationYellow179
168Accelerated DepreciationYellow181
168(k)Special DepreciationYellow190
170Charitable DeductionsPurple 
179Expense Depreciable Business AssetsYellow221
195Start-up ExpendituresPale Purple226
199AQualified Business IncomePale Purple232
212 & 213Individual DeductionsMagenta238
215Alimony PayorMagenta241
219IRAsMagenta 
221Educational InterestMagenta245
262 & 263Not-Deductible StuffPurple258
267Family TransfersOrange267
274EntertainmentPale Purple273
280AHome BusinessPale Purple282
408(m)(2)CollectiblesOrange401
408ARoth IRAsMagenta405
441Taxable YearBlue434
446Accounting MethodsBlue439
451Timing of InclusionsBlue 
461Timing of DeductionsBlue 
461(g)Timing of Prepaid InterestBlue 
1001Gain & LossGreen601
1011 & 1012BasisOrange602
1014Inheritance BasisOrange603
1015Gift BasisOrange605
1031Like-Kind ExchangesGreen611
1041Spousal TransfersGreen620
1202(e)(3)(A)Qualified Trade or BusinessPale Purple631
1221Capital AssetsOrange 
1222Capital Gains & LossesGreen 
1245(a)(3)1245 PropertyYellow649
1341Claim of RightGreen687
7702B(c)Qualified Long-Term Care ServicesMagenta906
1.72-9Annuity Tables (V & VI)Green 
1.132-6De Minimis FringesGreen984
1.165-1(d)Year of Loss DeductionPurple1021
1.263(a)-3Property ImprovementsPurple1066
1.451-2Constructive ReceiptGreen1214
1.461-4Accrual Basis IncurranceBlue1235
1.1031(a)-1(b)Like-KindGreen1509

Related: