Federal Tax of Income, Estates and Gifts

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The most reliable guide available on its subject, Federal Taxation of Income, Estates & Gifts is the industry-leading treatise for professionals seeking informed answers to complex tax questions.

Authors Boris Bittker and Lawrence Lokken provide unique guidance and orientation by emphasizing the purpose, structure, and principal effects of the Internal Revenue Code.

Encyclopedic in scope, Federal Taxation of Income, Estates & Gifts offers concise and lucid explanations of the complex realm of the Code and regulations, examines the ambiguities and gaps in the legislative scheme, and points out usable rules and guideposts.

• Bittker & Lokken: Federal Taxation of Income, Estates, and Gifts
  • Part 1 History, Constitutionality, and Structural Principles
    • Chapter 1: History and Constitutional Limitations
    • Chapter 2: Basic Structure of Federal Income Tax
    • Chapter 3: Federal Income Tax Policy
    • Chapter 4: Interpreting the Internal Revenue Code
    • Chapter 5: Income—Basic Definitional Concepts
    • Chapter 6: Income—The Effect of Offsetting Liabilities
    • Chapter 7: Income From Discharge of Indebtedness
  • Part 2 Exclusions From Gross Income
    • Chapter 10: Property Acquired by Gift and Inheritance
    • Chapter 11: Prizes, Awards, and Scholarships
    • Chapter 12: Life Insurance, Annuity, and Endowment Contracts and Employee Death Benefits
    • Chapter 13: Compensation for Personal Injuries and Sickness
    • Chapter 14: Miscellaneous Employee Benefits Exclusions From Gross Income [Revised]
    • Chapter 15: Tax-Exempt Interest
    • Chapter 16: Other Exclusions From Gross Income
  • Part 3 Business and Profit-Oriented Deductions and Credits
    • Chapter 20: Expenses Incurred in Business and Profit-Oriented Activities
    • Chapter 21: Travel, Entertainment, and Business Gifts
    • Chapter 22: Specially Treated Business and Profit-Oriented Expenses
    • Chapter 23: Depreciation and Amortization
    • Chapter 24: Depletion
    • Chapter 25: Losses
    • Chapter 26: Other Business Deductions
    • Chapter 27: Business Credits
    • Chapter 28: At Risk and Passive Activity Limitations
  • Part 4 Personal Exemptions, Deductions, and Credits
    • Chapter 30: Personal Exemptions and Itemized Deductions
    • Chapter 31: Personal Interest
    • Chapter 32: Taxes
    • Chapter 33: Bad Debts
    • Chapter 34: Casualty Losses
    • Chapter 35: Charitable Contributions
    • Chapter 36: Medical and Dental Expenses [Revised]
    • Chapter 36A: Other Personal Deductions [New]
    • Chapter 37: Personal Credits
  • Part 5 Sales and Other Dispositions of Property
    • Chapter 40: Realization of Gains and Losses—Taxable Events
    • Chapter 41: Original or Unadjusted Basis
    • Chapter 42: Adjusted Basis
    • Chapter 43: Amount Realized
    • Chapter 44: Nonrecognition Transactions
    • Chapter 45: Gains on Property Sales Excluded From Gross Income
  • Part 6 Capital Gains and Losses
    • Chapter 46: Taxation of Capital Gains and Losses—Basic Structure
    • Chapter 47: Definition of “Capital Asset”
    • Chapter 48: Sale or Exchange Requirement
    • Chapter 49: Holding Period
    • Chapter 50: Quasi–Capital Assets and Other Specially Treated Items
    • Chapter 51: Recapture of Depreciation and Other Allowances
  • Part 7 Interest, Time Value of Money, and Financial Instruments
    • Chapter 52: Deductions for Interest Expense
    • Chapter 53: Original Issue Discount
    • Chapter 54: Imputation of Interest in Sales and Exchanges of Property: Sections 483 and 1274
    • Chapter 55: Below-Market Loans Under § 7872
    • Chapter 56: Miscellaneous Time Value of Money Rules
    • Chapter 57: Derivative Financial Instruments
    • Chapter 58: Debt Securitizations [New]
  • Part 8 Deferred Compensation
    • Chapter 59: Employee Compensation—Introductory
    • Chapter 60: Deferred Compensation Contracts, Stock Options, and Other Nonqualified Arrangements
    • Chapter 61: Qualified Retirement Plans—Basic Rules
    • Chapter 62: Qualified Retirement Plans—Special Types of Plans, Employers, and Employees
    • Chapter 63: Miscellaneous Employee Benefits
    • Chapter 64: Deductions for Employee Compensation
  • Part 9 Foreign Income and Foreign Taxpayers
    • Chapter 65: Introduction and Classification of Individuals and Entities
    • Chapter 66: Special Rules for U.S. Persons
    • Chapter 67: Nonresident Aliens, Foreign Corporations, and Other Foreign Persons
    • Chapter 68: U.S. Possessions
    • Chapter 69: Controlled Foreign Corporations
    • Chapter 70: Other Rules Affecting U.S. Owners of Foreign Corporations
    • Chapter 71: Transfers to and by Foreign Entities, Export Subsidiaries; Other Special Problems [Revised]
    • Chapter 72: Foreign Tax Credit
    • Chapter 73: Sources of Income
    • Chapter 74: Foreign Currencies
  • Part 10 Assignments of Income and Other Transactions Between Related Taxpayers
    • Chapter 75: Assignments of Income
    • Chapter 76: Effect of Community Property System
    • Chapter 77: Alimony and Child Support
    • Chapter 78: Disallowed and Deferred Deductions on Transactions Between Related Taxpayers
    • Chapter 79: Reallocation of Income and Deductions Among Related Taxpayers [Revised]
  • Part 11 Trusts and Estates
    • Chapter 80: Grantor Trusts
    • Chapter 81: Nongrantor Trusts and Estates
    • Chapter 82: Special Classes of Trusts
    • Chapter 83: Foreign Trusts and Foreign Grantors [Revised]
    • Chapter 84: Income and Deductions in Respect of Decedents
  • Part 12 Business Entities and Their Owners
    • Chapter 85: Classification of Business Entities
    • Chapter 86: Partnership Status
    • Chapter 87: Partnership Allocations
    • Chapter 88: Partnership Distributions and Sales and Exchanges of Partnership Interests
    • Chapter 89: Transactions Between Partnerships and Partners; Optional Adjustments; Partnerships Terminations, Mergers, Consolidations, and Divisions
  • Part 13 Corporations and Shareholders
    • Chapter 90: Corporation Income Tax
    • Chapter 91: Corporate Capitalization
    • Chapter 92: Dividends
    • Chapter 93: Redemptions and Liquidations
    • Chapter 94: Corporate Reorganizations
    • Chapter 95: Other Rules Applying to Corporate Acquisitions
    • Chapter 96: Corporate Divisions
    • Chapter 97: Affiliated Corporations; Consolidated Tax Returns
    • Chapter 98: S Corporations
    • Chapter 99: Special Problems and Types of Corporations
  • Part 14 Tax-Exempt and Other Nonprofit Organizations
    • Chapter 100: Charitable Organizations
    • Chapter 101: Private Foundations
    • Chapter 102: Other Exempt Organizations
    • Chapter 103: Business Activities and Unrelated Business Income Tax
    • Chapter 104: Consumers' and Farmers' Cooperatives
  • Part 15 Accounting Methods and Periods
    • Chapter 105: Cash and Accrual Accounting
    • Chapter 106: Capitalization
    • Chapter 107: Inventories
    • Chapter 108: Installment Sales
    • Chapter 109: Long-Term Contracts
  • Part 16 Tax Practice and Procedure
    • Chapter 110: Internal Revenue Service and Federal Tax Practice
    • Chapter 111: Tax Returns, Rates, and Payments
    • Chapter 112: Alternative Minimum Tax
    • Chapter 113: Collection of Unpaid Taxes
    • Chapter 114: Audits, Deficiencies, and Refunds
    • Chapter 115: Statutes of Limitations
    • Chapter 116: Interest on Underpayments and Overpayments of Tax
    • Chapter 117: Civil Penalties and Tax Crimes
    • Chapter 118: Tax Litigation
    • Chapter 119: Tax Legislative Process
  • Part 17 Taxes on Transmission of Wealth
    • Chapter 120: Taxes on Estates, Gifts, and Generation-Skipping Transfers—Introduction
  • Part 18 Gift Tax
    • Chapter 121: The Transfer of Property by Gift
    • Chapter 122: Defective, Revocable, and Incomplete Transfers
    • Chapter 123: Marriage, Separation, and Divorce
    • Chapter 124: Annual Per-Donee Exclusion
  • Part 19 Estate Tax
    • Chapter 125: Property Owned by Decedent at Death
    • Chapter 126: Property Transferred by Decedent During Life
    • Chapter 127: Life Insurance
    • Chapter 128: Powers of Appointment
    • Chapter 129: Marital Deduction—Bequests and Other Transfers to Surviving Spouse
    • Chapter 130: Charitable Deduction
    • Chapter 131: Other Deductions—Funeral and Administration Expenses, Claims, Debts, and Losses
    • Chapter 132: Computation of Gift and Estate Tax Liability
  • Part 20 Tax on Generation-Skipping Transfers
    • Chapter 133: Tax on Generation-Skipping Transfers
  • Part 21 Issues Common to Gift, Estate, and Generation-Skipping Transfer Taxes
    • Chapter 134: Specially Treated Taxpayers: Nonresident Aliens, Residents of U.S. Possessions, and Tax Motivated Expatriates [Revised]
    • Chapter 135: Valuation of Property
    • Chapter 136: Estate Freeze Rules
    • Chapter 137: Estate, Gift, and Generation-Skipping Transfer Tax Procedure