Federal Taxation II: Property Transactions of Business Owners and Shareholders
By External Provider
About this course
NOTE: Course Update Coming Soon! We’re currently updating this course to reflect major changes to U.S. tax law made by the 2025 legislation commonly known as the One Big Beautiful Bill Act. An updated version of the course will launch in early 2026, with revised lessons, examples, and explanations that align with the new law. In the meantime, please note that some content may reflect pre-2025 rules. This course examines the U.S. federal tax system as it relates to property transactions of business owners and shareholders. Topics include cost recovery, such as depreciation, amortization, and depletion; calculation of realized versus recognized gains and losses; evaluation of the potential tax effects of nontaxable exchanges; and the combining, or netting, gains and losses that are different in nature. Assignments facilitate self-discovery of knowledge and development of a variety of professional skills.
What you will learn
- Identify classifications, conventions, and limitations used in the cost recovery of assets.
- Calculate the depreciation of tangible assets, amortization of intangible assets, and depletion of natural resources.
- Distinguish between realized gains and losses versus recognized gains and losses.
- Compute the netting of gains and losses for ordinary items, Section 1231 assets, and short-term or long-term capital transactions.