South-Western Federal Taxation 2026

Part I: INTRODUCTION AND BASIC TAX MODEL. 1. An Introduction to Taxation and Understanding the Federal Tax Law. 2. Working with the Tax Law. 3. Tax Formula and Tax Determination. Part II: GROSS INCOME. 4. Gross Income: Concepts and Inclusions. 5. Gross Income: Exclusions. Part III: DEDUCTIONS AND CREDITS. 6. Deductions and Losses: In General. 7. Deductions and Losses: Certain Business Expenses and Losses. 8. Depreciation, Cost Recovery, Amortization, and Depletion. 9. Deductions: Employee and Self-Employed-Related Expenses. 10. Deductions and Losses: Certain Itemized Deductions. 11. Investor Losses. 12. Tax Credits and Payments. Part IV: PROPERTY TRANSACTIONS. 13. Property Transactions: Determination of Gain or Loss, Basis Considerations, and Nontaxable Exchanges. 14. Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions. Part V: SPECIAL TAX COMPUTATIONS AND ACCOUNTING PERIODS AND METHODS. 15. The Deduction for Qualified Business Income for Noncorporate Taxpayers. 16. Accounting Periods and Methods. Part VI: CORPORATIONS. 17. Corporations: Introduction and Operating Rules. 18. Corporations: Organization and Capital Structure. 19. Corporations: Distributions Not in Complete Liquidation. 20. Corporations: Distributions in Complete Liquidation and an Overview of Reorganizations. Part VII: FLOW-THROUGH ENTITIES. 21. Partnerships: Formation, Operation, and Basis. 22. Partnerships: Distributions, Transfer of Interests, and Terminations. 23. S Corporations. Part VIII: ADVANCE TAX PRACTICE CONSIDERATIONS. 24. Taxes in the Financial Statements. 25. Exempt Entities. 26. Multistate Corporate Taxation. 27. Taxation of International Transactions. 28. Tax Practice and Ethics. Part IX: FAMILY TAX PLANNING. 29. The Federal Gift and Estate Taxes. 30. Income Taxation of Trusts and Estates. Appendix A: Tax Formulas, Tax Rate Schedules, and Tables. Appendix B: Tax Forms. Appendix C: Glossary. Appendix D: Table of Code Sections Cited. Appendix E: Present Value and Future Value Tables. Appendix F: Practice Set Assignments ' Comprehensive Tax Return Problems. Index. Online Appendices. Depreciation and the Accelerated Cost Recovery System (ACRS). Affordable Care Act Provisions.