This exercise is intended for students who have studied this issue in class, and wish to refine and apply what they have learned. It includes several essay questions, along with their model answers.
Read moreThis lesson will guide the user through a series of questions and answers to illustrate the basics of gross income and realization concepts. The lesson reviews your understanding of Internal Revenue Code section 61, among others.
Read moreThis lesson will guide students in the proper calculations concerning the taxation of annuities and life insurance payments. Questions cover Internal Revenue Code section 72 and other related sections.
Read moreThis lesson will introduce users to the procedure to account for medical expenses, accidents, and proper deductions for medical insurance. Questions cover Internal Revenue Code sections 104, 105, and 106.
Read moreThis lesson will guide students through the claim of right doctrine and tips for avoiding common mistakes in claiming income, payments, and repayments.
Read moreThis lesson will focus on Section 83(a)-(b) of the Internal Revenue Code, property transferred in connection with the performance of services, with practice questions.
Read moreThis lesson will guide users through the types of expenses that can be deducted as business or trade costs, including cost of repairs versus capital expenditures.
Read moreThis lesson will demonstrate the ways in which taxes paid may be deducted under Section 164 of the Tax Code and related regulations.
Read moreThis lesson will introduce users to the ways in which deductions can be taken for interest payments. Questions cover Internal Revenue Code section 163.
Read moreThis lesson will discuss the models by which property depreciation is calculated, and the rules which govern the calculations, including Internal Revenue Code section 168.
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