TAX: 660

Taxation of Property Transactions

Spring 2005 

Blackboard Site:       There is a Blackboard site associated with this course. It is available at Blackboard.odu.edu.  The login for the site is your ODU email user ID and password.  For assistance with Blackboard go to: www.odu.edu, (ODU homepage), Current Students, Blackboard (under Academic Resources), or click here.  The Blackboard site contains copies of the lecture slides, syllabus, links, practice quizzes, an online grade book, and other material.  Note that it’s content is subject to change as the course progresses.

Text:                           Federal Income Taxation of Individuals, B. Bittker, M. McMahon, & L. Zelenak (3^rd ed. RIA, student version) (ISBN: 0791345424)

                                    Internal Revenue Code (current edition) (required)(available online - use Title 26)

Course Description: This course covers determination of realized and recognized gains and losses along with their tax treatment on property dispositions.  Additionally, it includes coverage of the consequences of property transactions, such as depreciation, depletion, basis and capital gains problems.

Course Objectives:  Students will gain an understanding of the federal tax treatment of property dispositions and ownership, including determination and characterization of gains/losses, asset basis, and cost recovery.

Course Grading:    

Class Participation      Active student participation in class discussion is both encouraged and expected.

Contact Policy:          My office hours are Wednesday evenings 6-7 pm, and Thursday afternoons 2-4 pm.  You may also contact me via email and phone.    

Computer Access:    It is anticipated that every student has access to a computer, including internet access.  Students will also need an ODU email account to access many of the online course resources.  If you do not currently have an ODU account, please visit this website to get one: http://season.odu.edu. Every student that is enrolled in the course must also email me a test message before the 2^nd class, just so I have everyone’s email address. 

Instructional Method: Lecture

Course Policies:       Class attendance is expected, but will not be taken.  If you must miss class, you are responsible for any covered material.  The midterm and final exams will be given on the dates scheduled below, absent a weather cancellation.  Makeup exams will only be given after advance notice (email or phone/voice mail) and a reason acceptable to me. 

Examinations:            Examinations will be primarily problem-oriented, and will include

both objective and subjective questions.  Both examinations will be open book and calculators are allowed.  The final examination is not comprehensive. 

Prerequisites:           ACCT 421 (Federal Income Taxation) or equivalent

Student Conduct:     All provisions of the ODU Student Handbook, including provisions relating to academic integrity and classroom conduct, are incorporated by reference.  A copy of the handbook may be accessed via: http://www.odu.edu/webroot/orgs/STU/stuserv.nsf/pages/student_handbook

Special Needs:         In compliance with federal law, provisions will be made for students with special needs on an individual basis. The student must have been identified as “special needs” by the university and written documentation must be provided to the instructor.  Provisions will be made based upon written guidelines from the university’s Office of Disability Services.  All students are expected to fulfill all course requirements.

Withdraw:                Last day to withdraw from course is March 15 (via LEO)

Contact Hours:       Class Meetings - 45 and Assignments/Readings - 135