Federal Income Taxation

This course introduces students to the federal income system, covering issues of doctrine, interpretation, and policy. The determination of gross income, deductions, and capital gains and losses are considered in depth, with an emphasis on policy choices shaping the law, commercial realities motivating taxpayers, and interpretive skills necessary to navigate the Internal Revenue Code and other statutory regimes. 90% of a student's grade is based on a proctored final, and 10% is based on class participation. There are discussion questions for each class, which help students focus on the key issues and are used to organize class discussion. Students do not have to hand in answers.