Learn skills to determine personal and dependent exemptions
Understand concepts and inclusions of gross income, general deductions and losses
Learn more about business expenses and losses, property tax gains and losses, nontaxable exchanges, and capital gains and losses
About this course:
This course explores individual income taxation issues, including tax determination; personal and dependents exemptions; concepts and inclusions of gross income; general deductions and losses; deduction of certain business expenses and losses; depreciation, cost recovery amortization, and depletion; deduction of employee expenses; itemized deductions and losses; passive activity losses; property transaction gains and losses; nontaxable exchanges; and capital gains and losses. Transferable for UC credit.
MGMT X 1A and MGMT X 1B Principles of Financial Accounting or consent of instructor.