Accounting - Advancd Tax of Bus Entities

Catalog description

This course focuses on the taxation of corporations, pass-through entities, and their investors/owners. Topics include taxable income calculation and separately stated items, entity formation, distributions, redemptions/withdrawals, and liquidations. Owner related issues including basis, character of income, capital gain/loss, loss limitations, and income/loss allocation to pass-through owners are covered as well as a review of carryforwards and tax attributes. This course is not open to students with credit in ACCT 545. Prerequisite: Admission to MAcc program.