FEDERAL INCOME TAXATION
(LAWN-8001) - 2 UNITS
This course introduces the core concepts, terminology, and rules of the federal income tax system. Students learn to articulate and apply the rules that determine a taxpayer's gross income, gains from dealings in property, exclusions from gross income, adjusted gross income, taxable income, itemized deductions, standard deduction, income characterization, tax rates, and credits. In addition, the course introduces income tax timing rules.