Advanced Federal Income Tax (TX-340)
This course covers an advanced review of the inclusions, and exclusions, from gross income and of deductions therefrom in arriving at taxable income. The taxation of individuals will be stressed. Various doctrines, such as deferred compensation, assignment of income and step-transaction, will be analyzed. Characterization of transactions as capital or ordinary and the federal income tax consequences arising from sales, exchanges, and other dispositions of property will be covered in depth.

Course Name: TX-340
Departments: Tax Law
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Prerequisites: This course has a prerequisite of Federal Income Tax (JD 135) or Survey of Federal Income Tax (EPL 406).
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