BC 442 - Tax Accounting

Institution:

Mount Mercy University

Subject:

Description:

This course involves the study of basic concepts and theory of federal income taxation applicable to individuals and sole proprietorships. Topics include: the elements of gross income, exclusions, deductions from income, capitol gains and losses, passive losses, tax free exchanges, depreciation and the sale of assets used in a trade or business (including depreciation recapture). Students will complete a basic tax research memo, a complex individual income tax return by hand and a second individual income tax return using computerized tax return preparation software. Prerequisite: BC 266.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.mtmercy.edu

Phone Number:

(319) 363-8213

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Four-one-four plan

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