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Nov 22, 2024
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College Catalog 2016 - 2017 [ARCHIVED CATALOG]
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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
- Compute depreciation using the MACRS tables including the Section 179 Election to Expense, “listed property” and “luxury automobile” limitations.
- Determine the long-term and short-term gains and losses from various capital asset transactions and prepare a Schedule D.
- Compute income tax on long term capital gains and qualified dividends.
- Prepare a Partnership Tax return, Form 1065 and related K-1’s using tax preparation software.
- Prepare a Corporate Income Tax Return, Form 1120 using tax preparation software.
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