Federal Income Taxation of Corporations and Partnerships, Sixth Edition

This well-regarded textbook continues its fundamental approach of clear explanations, pervasive examples, and comprehensive problem sets throughout. Utilizing a problems-based approach, Federal Income Taxation of Corporations and Partnerships, Sixth Edition by Howard E. Abrams and Don Leatherman covers taxation of the three major categories of business entities: Corporations, S Corporations, and Partnerships.

New to the Sixth Edition:

• The text has been updated to reflect the 2017 Tax Cut and Jobs Act.
• The chapter on taxable acquisitions has been modified to be more complete yet easier to understand.
• The chapter on tax-free acquisitive reorganizations has been modified to include more problems as well as a section on the substance-over-form doctrine.
• The Partnership Taxation presentation has been updated to include integration with new bonus depreciation rules, modernization of section 751(b), elimination of technical terminations, and expansion of substantial built-in loss.

Professors and students will benefit from:

• Clarification of the intricacies of the taxation of business enterprises
• Problems and examples in addition to cases and notes to cover all aspects of the subject
• Illustrations of typical commercial transactions
• An emphasis on major themes of policy and practice
• A book that is flexible enough to be used in two-, three-, or four-credit courses
• Stand-alone coverage of C corporations, S corporations, and partnerships