Federal Taxation II: Property Transactions of Business Owners and Shareholders

The introduction module provides an overview of the course, introduces the instructors, and familiarizes students with the learning environment, including the syllabus, discussion forums, and online education resources. Students will complete an orientation quiz and engage in building a learning community.

Module 1 delves into the concepts of cost recovery, with a focus on depreciation. Students will explore the utilization of depreciation tables and learn about depreciation of business use realty, along with IRS tables and knowledge checks to reinforce learning.

Module 2 expands on the topic of cost recovery, covering accelerated depreciation, amortization, and depletion. Students will examine bonus depreciation, Section 179 election, listed property, and amortization, among other aspects. The module includes quizzes and knowledge checks to consolidate learning.

Module 3 explores gains, losses, and adjusted basis, offering insights into the overview of gains and losses, basis, and realized gains or losses. Students will delve into adjusted basis regarding cost, gift, and inheritance basis, reinforcing their understanding through quizzes and knowledge checks.

Module 4 delves into disallowed losses, like-kind exchanges, and involuntary conversions. Students will examine recognized gains and losses, nontaxable exchanges, like-kind exchanges, and involuntary conversions, along with knowledge checks to solidify their understanding.

Module 5 covers special gain/loss provisions, including the sale of personal residence, contributing property to a business, wash sales, and gains on qualified small business stock. Students will engage in quizzes and knowledge checks to reinforce their learning.

Module 6 focuses on the character and netting process of gains and losses. Students will gain insights into the introduction to the netting process, §1231 assets, and depreciation recapture. Quizzes and knowledge checks are integrated to consolidate learning.

Module 7 explores depreciation recapture and other items in the netting process, including §1245 and §1250 depreciation recapture, net investment tax, and gain from the sale of depreciable property between related parties. Students will engage in quizzes and knowledge checks to reinforce their understanding.

The final module encompasses a comprehensive exam to evaluate students' grasp of the course material, providing a platform for them to demonstrate their understanding of the U.S. federal tax system in relation to property transactions of business owners and shareholders.