Federal Income Taxation of Corporations and Partnerships, Seventh Edition

Buy a new version of this textbook and receive access to the Connected eBook on Casebook Connect, including lifetime access to the online ebook with highlight, annotation, and search capabilities. Access also includes an outline tool and other helpful resources. Connected eBooks provide what you need most to be successful in your law school classes. 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, Seventh Edition, by Howard E. Abrams, Don A. Leatherman, and new co-author Thomas J. Brennan covers taxation of the three major categories of business entities: Corporations, S Corporations, and Partnerships. New to the Seventh Edition: Revised and expanded explanation of §351 contributions with boot and with assumption of liabilities, including examples and illustrative diagrams Discussion of new corporate alternative minimum tax Revised and expanded explanation of §332 subsidiary liquidations, with Associated Wholesale Grocers summarized and explained rather than reported in full Revised and expanded explanation of taxable acquisitions and §338 elections, including coordinated examples in different situations and illustrative diagrams Expanded discussion of the effect of prior and subsequent transactions on reorganizations, with new addition of J.E. Seagram Corp. and notes, and revised and expanded discussion of multi-step mergers, with Rev. Rul. 2008-25 summarized and explained rather than reported in full New discussion of the excise tax on the repurchase of corporate stock Expanded discussion of the treatment of consolidated groups Streamlined partnership discussion by removing coverage of non-Subchapter K loss limitations New note on private equity waivers of guaranteed payments in favor of additional profit shares and the government response under section 707(a)(1) New note on partnership basis shifting transactions and the government’s responses Additional and revised problems in Subchapter K chapters Professors and students will benefit from: Problems and examples in addition to cases and notes to cover all aspects of the subject Additional and revised problems in Subchapter K chapters Illustrations of typical commercial transactions Flexible enough to be used in two-, three-, or four-credit courses Stand-alone coverage of C corporations, S corporations, and partnerships