Aspen Publishing

Federal Income Taxation, Fifth Edition

Richard Schmalbeck, Lawrence Zelenak, Sarah B. Lawsky


  • ISBN: 9781543800197

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  • Description

    Buy a new version of this textbook and receive access to the Connected eBook with Study Center on CasebookConnect, including: lifetime access to the online ebook with highlight, annotation, and search capabilities; practice questions from your favorite study aids; an outline tool and other helpful resources. Connected eBooks provide what you need most to be successful in your law school classes. Learn more about Connected eBooks.

    Unique in its structure, Federal Income Taxation, Fifth Edition presents core materials that cover the basics of tax law and then offers supplemental "cells" at the end of the book that are self-contained units with more in-depth discussion of certain topics. 

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  • Additional Product Details

    Publication Date: 8/3/2018
    Copyright: 2018
    Pages: 1100
    Connected eBook with Study Center + Print Book: 9781543800197
    Connected eBook with Study Center: 9781543803600

    Detailed Table of Contents (PDF Download)

    Summary of Contents


    Chapter 1 An Introduction to the Income Tax
    Understanding Tax Rates: Average Rates, Marginal Rates,
    and Phaseouts
    Inflation and the Income Tax
    Compliance and Enforcement
    Tax Return Preparation Standards and Penalties

    Chapter 2 The Scope of Gross Income
    The Limits of Tax-Free Recovery of Capital
    Distinguishing Gifts from Compensation for Services
    Accelerated Death Benefits
    The Perplexing Case of the Extremely Valuable Baseball
    Free Parking, Section 132, Constructive Receipt, and
    the IRS
    Section 132 Fringe Benefits
    Frequent Flier Miles and the Better Part of Valor:
    A De Facto Administrative Exclusion
    Restricted Property and Stock Options
    Annual Accounting and Rescissions
    Defining Debt Cancellation Income
    Discharge of Gambling Debts

    Chapter 3 Property Transactions
    Determining the Amount of a Loss and the Deductible
    Portion of a Loss
    A Life Insurance-Annuity Combination
    Selected Topics in Like-Kind Exchanges
    The Personal Residence Gain Exclusion
    The Installment Method of §453
    Original Issue Discount, §483 Unstated Interest, and
    Market Discount
    Federal Wealth Transfer Taxes

    Chapter 4 Personal Deductions
    Rationale for the Charitable Contributions Deduction
    Quid Pro Quo Issues
    Casualty Losses—Materials and Problems
    Double Tax Benefits

    Chapter 5 Business Expense Deductions
    Vacation Homes

    Chapter 6 Capitalization and Cost Recovery
    Section 197 Intangibles

    Chapter 7 Tax Accounting
    Inventories and Mandatory Accrual Accounting

    Chapter 8 Tax Preferences, Tax Shelters, and the Alternative
    Minimum Tax
    The Alternative Minimum Tax and Its Discontents

    Chapter 9 Taxation of the Family
    A Comparative Perspective on Child Care as a
    Business Expense
    Family Income-Splitting by Statute
    Income Tax Marriage Penalties: Causes and Cures
    Income-Splitting for California Domestic Partnerships
    When Is a Transfer “Incident to the Divorce”?
    The Earned Income Tax Credit and Problems of
    Anti-Poverty Program Design

    Chapter 10 Identifying the Proper Taxpayer
    Interest on Client Trust Accounts: Of Technical Rules
    and Public Relations

    Chapter 11 Retirement Savings and Consumption Taxation

    Chapter 12 Capital Gains and Losses

    Table of Cases
    Table of Internal Revenue Code Sections
    Table of Treasury Regulation
    Table of Revenue Rulings
    Table of Miscellaneous IRS Pronouncements

  • Author Information

    Lawrence Zelenak

    Lawrence Zelenak teaches income tax, corporate tax, a tax policy seminar, and torts at Duke University School of Law as Pamela B. Gann Professor of Law. His publications include numerous articles on tax policy issues and a treatise on federal income taxation of individuals. His most recent publications include "Tax or Welfare? The Administration of the Earned Income Tax Credit," 52 UCLA Law Review 1867 (2005); "Tax Shelters and the Search for a Silver Bullet," 105 Columbia Law Review 1939 (2005); "Taxing Endowment," in Duke Law Journal (2006); "Justice Holmes, Ralph Kramden, and the Civic Virtues of a Tax Return Filing Requirement," 61 Tax Law Review 53 (2007); "The Theory and Practice of Tax Reform," 105 Michigan Law Review 1133 (2007); cite to "Taxing Endowment" in 55 Duke Law Journal 1145 (2006).

    Prior to joining Duke Law in 2003, Zelenak was a member of the Columbia Law School faculty. Prior to that, he was a faculty member at the University of North Carolina School of Law; professor in residence at the Office of the Chief Counsel, Internal Revenue Service, Washington, D.C.; an assistant professor at Lewis and Clark Law School in Portland, Oregon; and an associate with the firm of LeSourd and Patten in Seattle. He has also been a visiting professor at the University of Utah School of Law.

    Zelenak received his B.A., summa cum laude, from the University of Santa Clara, and his J.D., magna cum laude, from Harvard Law School in 1979.

    Sarah B. Lawsky

    Sarah B. Lawsky is a professor of law at the University of California, Irvine.

    Richard Schmalbeck

    Richard Schmalbeck is Professor of Law at Duke University. He has also served as dean of the University of Illinois College of Law, and as a visiting professor on the University of Michigan and Northwestern University law faculties. His recent scholarly work has focused on issues involving non-profit organizations, and the federal estate and gift taxes. He has also served as an advisor to the Russian Federation in connection with its tax reform efforts. The second edition of his federal income tax casebook, co-authored with Lawrence Zelenak, was released by Aspen Publishers in 2007.

    He graduated from the University of Chicago, and later from its Law School, where he served as associate editor of the University of Chicago Law Review. Prior to beginning his teaching career, he practiced tax law in Washington, D.C.

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