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Basic Federal Income Taxation: Gross Income: Realization Concepts in Gross Income

This 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.

Learning Outcome
On completion of the lesson, the student will be able to:
1. Explain the application of I.R.C. section 61 to different fact patterns.

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Basic Federal Income Taxation: Gross Income: The Taxability of Employment Connected Payments: Fringe Benefits, Meals and Lodging, Unemployment Compensation, and Social Security Benefits

This lesson will introduce users to regulations concerning employment connected payments, including fringe benefits, meals and lodging, unemployment compensation and social security benefits. The questions cover IRS Code section 132 and others.

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Basic Federal Income Taxation: Gross Income: Gifts, Bequests, Prizes, and Donative Cancellations of Indebtedness

This lesson will provide users with scenarios in applying regulations concerning the exclusion of gifts, prizes, and related income from gross income calculations. Questions review Internal Revenue Code section 102.

Learning Outcome
On completion of the lesson, the student will be able to:
1. Apply the rules under I.R.C. § 102 and all its sub-sections.

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