Includes index.

Accompanied by: Teacher's manual; 1 CD-ROM teacher's manual (4 3/4 in.); Revised teacher's manual; 1 Revised CD-ROM teacher's manual (4 3/4 in.).

Gross income : concepts and limitations -- The effect of an obligation to repay -- Gains derived from dealings in property -- Gifts, bequests and inheritance -- Sale of a principal residence -- Scholarships and prizes -- Life insurance and annuities -- Discharge of indebtedness -- Compensation for personal injuries and sickness -- Fringe benefits -- Business and profit seeking expenses -- Capital expenditures -- Depreciation -- Losses and bad debts -- Travel expenses -- Entertainment and business meals -- Education expenses -- Moving expenses, child care, legal expenses -- Hobby losses -- Home offices, vacation homes and other dual use property -- The interest deduction -- The deduction for taxes -- Casualty losses -- Medical expenses -- Charitable deductions -- Limitations on deductions -- Cash method accounting -- Accrual method accounting -- Annual accounting -- Capital gains and losses -- Quasi-capital assets : section 1231 -- Recapture of depreciation -- Assignment of income -- The kiddie tax -- Interest-free or below-market loans -- Tax consequences of divorce -- Nonrecourse debt : basis and amount realized revisited -- Like kind exchanges -- Involuntary conversions -- Installment sales -- Sale of a business and sale-leasebacks -- Original issue discount -- Limitations on tax shelters ? -- The alternative minimum tax.