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College Catalog 2017-2018 [ARCHIVED CATALOG]

ACCT 275 - Taxation II - Business Entities

Credits 3
Income tax Principles related to partnerships, limited partnerships, corporations, s-corporations, and limited liability companies are studied.
Course Outcomes

  1. Compute depreciation using the MACRS tables including the Section 179 Election to Expense, “listed property” and “luxury automobile” limitations.
  2. Determine the long-term and short-term gains and losses from various capital asset transactions and prepare a Schedule D.
  3. Compute income tax on long term capital gains and qualified dividends.
  4. Prepare a Partnership Tax return, Form 1065 and related K-1’s using tax preparation software.
  5. Prepare a Corporate Income Tax Return, Form 1120 using tax preparation software.