Understanding federal income taxation

Gross income concepts and limitations -- The effect of an obligation to repay -- Gains derived from dealings in property -- Gifts, bequests and inheritance -- Sale of a principal residence -- Scholarships and prizes -- Life insurance, annuities, and individual retitement accounts -- Discharge of indebtedness -- Compensation for personal injury and physical sickness -- Fringe benefits -- Business and profit seeking expenses -- Capital expenditures -- Depreciation -- Losses and bad debts -- Travel expenses -- Entertainment and business meals -- Educational expenses -- Other deductible personal expenses -- Hobby losses -- Home offices, vacation homes and other dual use property -- The interest deduction -- The deduction for taxes -- Casualty losses -- Medical expenses -- Charitable deductions -- Limitations on deductions -- Cash method accounting -- Accrual method accounting -- Annual accounting -- Capital gains and losses -- Quasi-capital assets : section 1231 -- Depreciation recapture -- Assignment of income -- Below-market loans -- Tax consequences of divorce -- Effect of debt on basis and amount realized -- Like-kind exchanges -- Involuntary conversions -- Installment sales -- Sale of a business and sale-leasebacks -- An introduction to original issue discount -- Limitations on tax shelters -- The alternative minimum tax