Federal income taxation of business organizations / by Paul R. McDaniel, Martin J. McMahon, Jr., Daniel L. Simmons.
2006
KF6450 .F43 2006 (Map It)
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Details
Author
Title
Federal income taxation of business organizations / by Paul R. McDaniel, Martin J. McMahon, Jr., Daniel L. Simmons.
Published
New York, NY : Foundation Press Thomson/West, 2006.
Call Number
KF6450 .F43 2006
Edition
Fourth edition.
ISBN
9781587785757 (hbk. : alk. paper)
1587785757 (hbk. : alk. paper)
9781599412214 (Study problems : alk. paper)
1599412217 (Study problems : alk. paper)
1587785757 (hbk. : alk. paper)
9781599412214 (Study problems : alk. paper)
1599412217 (Study problems : alk. paper)
Description
cv, 1,305 pages : illustrations ; 27 cm.
System Control No.
(OCoLC)70267257
Note
Includes index.
Accompanied by: Study problems (ix, 191 pages ; 26 cm.).
Accompanied by: Study problems (ix, 191 pages ; 26 cm.).
Series
Record Appears in
Local Note
Library lacks of Study problems
Added Author
Table of Contents
pt. I
Taxation of Partners And Partnerships
1
ch. 1
Introduction to Partnership Taxation
1
Section 2
Definition of a Partnership
1
A.
Partnership Versus Other Business Arrangement
1
B.
Partnership Versus Association
3
ch. 2
Formation of the Partnership
5
Section 1
Contributions of Money or Property
5
Section 2
Contributions of Encumbered Property
7
Section 3
Contribution of Property Versus Contribution of Services
8
A.
Treatment of the Partner Receiving a Partnership Interest in Exchange for Services
8
B.
Treatment of the Partnership Issuing a Partnership Interest for Services
10
ch. 3
Taxation of Prtnership Taxable Income to the Partners
11
Section 1
Pass-Thru of Partnership Income and Loss
11
Section 2
Limitation on Partners' Deductions of Partnership Losses
14
ch. 4
Determining Partners' Distributive Shares
15
Section 2
The Section 704(b) Regulations
15
A.
Allocations of Items Unrelated to Nonrecourse Debt
15
(1).
Economic effect
15
(2).
Substantiality
16
B.
Allocations Attributable to Nonrecourse Debt
18
Section 3
Allocations With Respect to Contributed Property
19
Section 5
Allocations Where Interests Vary During the Year
21
ch. 5
Allocation of Partnership Liabilities
23
Section 1
Allocation of Recourse Liabilites
23
Section 2
Allocation of Nonrecourse Debt
23
ch. 6
Transactions Between Partners and the Partnership
26
Section 1
Transactions Involving Services, Rents, and Loans
26
Section 2
Sales of Property
28
ch. 7
Special Limitations on Loss Deductions at the Partner Level
31
Section 2
The At-Risk Rules of Section 465
31
Section 3
The Passive Activity Loss Rules of Section 469
33
ch. 8
Sales of Partnership Interests by Partners
35
Section 1
The Seller's Side of the Transaction
35
Section 2
The Purchaser's Side of the Transaction: Basis Aspects
38
ch. 9
Partnership Distributions
41
Section 1
Current Distributions
41
Section 2
Distributions in Liquidation of a Partner's Interest
44
Section 3
Basis Adjustments to Remaining Partnership Assets
47
Section 4
Sale of Interest to Other Partners Versus Distribution
49
Section 5
Complete Liquidation of the Partnership
49
Section 6
"Mixing Bowl" Transactions
52
Section 8
Special Problems on the Liquidation of a Partnership Interest Following the Death of a Partner
53
pt. II
Taxation of Corporations and Shareholders
55
ch. 11
Identifying Taxable Corporate Entities
55
Section 1
What is a "Corporation" Under the Income Tax?
55
Section 2
Regard and Disregard of the Corporate Entity
57
Section 3
Reallocation of Income
58
ch. 12
Formation of the Corporation
60
Section 1
Receipt of Stock for Property
60
A.
Basic Principles
60
B.
"Property" and Midstream Transfers of Income
61
C.
"Solely for Stock" -- The Receipt of Other Property
61
Section 2
"Solely" for Stock: Assumption of Liabilities
63
A.
Basic Principles
63
B.
Liabilities in Excess of Basis
64
(1).
General Rules
64
(2).
Assumption of Debts that Would be Deductible When Paid: Section 357(c)(3)
65
Section 3
The Control Requirement
67
Section 4
Receipt of Stock for Services
69
ch. 13
The Capital Structure of the Corporation
72
Section 1
Debt Versus Equity
72
Section 2
Bond Discount and Premium
74
ch. 14
Dividend Distributions
76
Section 2
Dividend Distributions in General
76
Section 3
Distribution of a Dividend in Kind
78
Section 4
Disguised Dividends
80
Section 5
Intercorporate Dividends
83
ch. 15
Stock Redemptions
84
Section 1
Introduction
84
Section 2
Substantially Disproportionate Redemptions
84
Section 3
Termination of a Shareholder's Interest
88
Section 4
Distributions Not "Essentially Equivalent to a Dividend"
91
Section 5
Partial Liquidations
92
Section 6
Redemptions Through the Use of Related Corporations
94
ch. 16
Stock Dividends
97
Section 1
Taxable Versus Nontaxable Stock Dividend
97
Section 2
The Preferred Stock Bailout
100
ch. 17
Corporate Liquidations
102
Section 2
Treatment of the Corporation
102
Section 3
Treatment of Shareholders
102
Section 4
Liquidation of Subsidiary Corporations -- Section 332
106
pt. III
Elective Passthrough Tax Treatment
110
ch. 18
S Corporations
110
Section 2
Eligibility, Election and Termination
110
B.
Corporate Eligibility
112
C.
S Corporation Election Procedures
113
D.
Revocation or Termination of S Corporation Status
114
Section 3
Effect of the Subchapter S Election By a Corporation With No C Corporation History
115
A.
Passthrough of Income and Loss
115
(1).
General Principles
115
(2).
Effect of Indirect Contributions on Limitation of Loss Deductions to Shareholders Basis
117
B.
Distributions
118
Section 4
Qualifed Subchapter S Subsidiaries
119
Section 5
S Corporations That Have a C Corporation History
120
A.
Distributions From an S Corporation With Earnings and Profits Accumulated From Subchapter C Years
120
B.
Passive Investment Income of an S Corporation With Accumulated Earnings and Profits
121
C.
Built-in Gain Tax
121
pt. IV
Affiliated Corporations
123
ch. 19
Affiliated Corporations
123
Section 1
Tax Reduction With Multiple Corporate Taxpayers
123
B.
Sections 1561--1563
123
Section 2
Consolidated Returns
124
pt. V
Corporate Acquisition Techniques
129
ch. 20
Taxable Acquisitions: The Purchase and Sale of a Corporate Business
129
Section 1
Asset Sales and Acquisitions
130
Section 2
Stock Sales and Acquisitions
132
ch. 21
Distributions Made in Connection With the Sale of a Corporate Business: "Bootstrap Acquisitions"
137
Section 1
Bootstrap Transactions Involving Individuals: Capital Gain Versus Ordinary Income
137
Section 2
Bootstrap Transactions Involving Corporations
138
ch. 22
Tax Free Acquisitive Reorganizations
139
Section 2
The Fundamental Rules Governing Reorganizations
139
A.
The Basic Statutory Scheme
139
B.
The Continuity of Interest Requirement
143
(1).
Qualitative and Quantitative Aspects
143
(2).
Temporal Aspects
146
C.
Continuity of Business Enterprise
148
D.
Judicial Limitations
150
(1).
Business Purpose
150
(2).
Step transaction doctrine
150
E.
Tax Results to the Parties to an (A) Reorganization
152
(1).
Shareholders and Security Solders
152
(2).
Treatment of the Corporations Participating in an (A) Reorganization
155
Section 3
Stock-for-Stock Acquisitions: Type (B) Reorganizations
156
Section 4
Stock-for-Asset Acquisitions: Type (C) Reorganizations
161
Section 5
Triangular Reorganizations
163
Section 6
Acquisitive Type (D) Reorganizations
170
pt. VI
Nonacquisitive Reorganizations
172
ch. 23
Single Corporation Reorganizations
172
Section 2
Recapitalizations
172
Section 3
Change in Identity, Form, of Place of Organization: Type (F) Reorganizations
174
ch. 24
Corporate divisions: Spin-Offs, Split-Offs and Split-Ups
176
Section 1
Corporate Divisions: General Rules
176
Section 2
"Active Conduct of a Trade or Business," "Device," and Other Limitations
178
B.
Active Conduct of a Trade or Business
178
C.
The "Device" Limitation
180
D.
The Business Purpose Requirement
182
Section 3
Distribution of "Control" and Continuity of Interest Requirements
184
Section 4
Consequences to parties to a Corporate Division
185
Section 5
Divisive Distributions in connection with Acquisitions
187
pt. VII
Corporate Attributes in Reorganizations and Other Transactions
189
ch. 25
Carry Over and Limitation of Corporate Tax Attributes
189
Section 1
Carry Over of Tax Attributes
189
Section 2
Limitations on Net Operating Loss Carryovers Following a Change in Corporate Ownership
190