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Federal Taxation II: Property Transactions of Business Owners and Shareholders
  • Level Professional
  • Duration 31 hours
  • Course by University of Illinois Urbana-Champaign
  • Offered by

About

This course examines the U.S. federal tax system as it relates to property transactions of business owners and shareholders. Topics include cost recovery, such as depreciation, amortization, and depletion; calculation of realized versus recognized gains and losses; evaluation of the potential tax effects of nontaxable exchanges; and the combining, or netting, gains and losses that are different in nature. Assignments facilitate self-discovery of knowledge and development of a variety of professional skills.

Modules

About the Course

    • 4 Videos
    • 3 Readings
    • 1 Quiz
Show info about module content

4 Videos

  • Course Overview and Meet Your Instructors
  • About Professor Matthew Hutchens
  • About Professor Petro Lisowsky
  • Learn on Your Terms

3 Readings

  • Syllabus
  • About the Discussion Forums
  • Online Education at Gies College of Business

1 Quiz

  • Orientation Quiz

About Your Classmates

    • 2 Readings
    • 1 Discussion
Show info about module content

1 Discussions

  • Get to Know Your Classmates

2 Readings

  • Update Your Profile
  • Build a Learning Community with Social Media

Module 1 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 1 Overview and Resources

Lesson 1.1 Concepts in Cost Recovery

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Concepts in Cost Recovery

1 Quiz

  • Lesson 1.1 Knowledge Check

Lesson 1.2 Overview of Depreciation

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Overview of Depreciation

1 Quiz

  • Lesson 1.2 Knowledge Check

Lesson 1.3 Using the Depreciation Tables

    • 1 Videos
    • 1 Readings
    • 1 Quiz
Show info about module content

1 Videos

  • Using the Depreciation Tables

1 Readings

  • IRS Tables

1 Quiz

  • Lesson 1.3 Knowledge Check

Lesson 1.4 Examples Using the Depreciation Tables

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Examples Using the Depreciation Tables

1 Quiz

  • Lesson 1.4 Knowledge Check

Lesson 1.5 Depreciation of Business Use Realty

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Depreciation of Business Use Realty

1 Quiz

  • Lesson 1.5 Knowledge Check

Lesson 1.6 Depreciation in Year of Disposition

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Depreciation in Year of Disposition

1 Quiz

  • Lesson 1.6 Knowledge Check

Module 1 Review

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 1 Quiz

Module 2 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 2 Overview and Resources

Lesson 2.1 Bonus Depreciation

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Bonus Depreciation

1 Quiz

  • Lesson 2.1 Knowledge Check

Lesson 2.2: Section 179 Election

    • 1 Videos
    • 1 Readings
    • 1 Quiz
Show info about module content

1 Videos

  • Section 179 Election

1 Readings

  • Inflation-adjusted Section 179 Amounts

1 Quiz

  • Lesson 2.2 Knowledge Check

Lesson 2.3 Listed Property

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Listed Property

1 Quiz

  • Lesson 2.3 Knowledge Check

Lesson 2.4 Luxury Auto Limitations

    • 1 Videos
    • 1 Readings
    • 1 Quiz
Show info about module content

1 Videos

  • Luxury Auto Limitations

1 Readings

  • Luxury Auto Limitations

1 Quiz

  • Lesson 2.4 Knowledge Check

Lesson 2.5 Amortization

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Amortization

1 Quiz

  • Lesson 2.5 Knowledge Check

Lesson 2.6 Depletion

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Depletion

1 Quiz

  • Lesson 2.6 Knowledge Check

Lesson 2.7 Capitalization vs Expensing

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Capitalization vs Expensing

1 Quiz

  • Lesson 2.7 Knowledge Check

Reporting Cost Recovery on Form 4562 (Optional)

    • 1 Videos
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1 Videos

  • Reporting Cost Recovery on Form 4562

Module 2 Review

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 2 Quiz

Module 3 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 3 Overview and Resources

Lesson 3.1 Overview of Gains and Losses; Amount Realized

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Overview of Gains and Losses; Amount Realized

1 Quiz

  • Lesson 3.1 Knowledge Check

Lesson 3.2 Basis and Realized Gains or Losses

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Basis and Realized Gains or Losses

1 Quiz

  • Lesson 3.2 Knowledge Check

Lesson 3.3 Adjusted Basis: Cost Basis

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Adjusted Basis: Cost Basis

1 Quiz

  • Lesson 3.3 Knowledge Check

Lesson 3.4 Adjusted Basis: Gift Basis

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Adjusted Basis: Gift Basis

1 Quiz

  • Lesson 3.4 Knowledge Check

Lesson 3.5 Adjusted Basis: Inheritance Basis

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Adjusted Basis: Inheritance Basis

1 Quiz

  • Lesson 3.5 Knowledge Check

Module 3 Review

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 3 Quiz

Module 4 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 4 Overview and Resources

Lesson 4.1 Recognized Gains and Losses

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Recognized Gains and Losses

1 Quiz

  • Lesson 4.1 Knowledge Check

Lesson 4.2 Nontaxable Exchanges and Like-Kind Exchanges: In General

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Nontaxable Exchanges and Like-Kind Exchanges: In General

1 Quiz

  • Lesson 4.2 Knowledge Check

Lesson 4.3 Like-Kind Exchanges: Boot, Basis, and Holding Period

    • 2 Videos
    • 1 Quiz
Show info about module content

2 Videos

  • Part 1: Like-Kind Exchanges: Boot, Basis, and Holding Period
  • Part 2: Like-Kind Exchange Examples

1 Quiz

  • Lesson 4.3 Knowledge Check

Lesson 4.4 Involuntary Conversions: In General

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Involuntary Conversions: In General

1 Quiz

  • Lesson 4.4 Knowledge Check

Lesson 4.5 Involuntary Conversions: Replacement Time Period

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Involuntary Conversions: Replacement Time Period

1 Quiz

  • Lesson 4.5 Knowledge Check

Lesson 4.6 Involuntary Conversions: Non-recognition Rules

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Involuntary Conversions: Non-recognition Rules

1 Quiz

  • Lesson 4.6 Knowledge Check

Module 4 Review

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 4 Quiz

Module 5 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 5 Overview and Resources

Lesson 5.1 Sale of Personal Residence

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Sale of Personal Residence

1 Quiz

  • Lesson 5.1 Knowledge Check

Lesson 5.2 Contributing Property to a Corporation or Partnership

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Contributing Property to a Business

1 Quiz

  • Lesson 5.2 Knowledge Check

Lesson 5.3 Wash Sales

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Wash Sales

1 Quiz

  • Lesson 5.3 Knowledge Check

Lesson 5.4 Worthless Securities and Losses on Small Business Stock

    • 1 Videos
    • 1 Quiz
Show info about module content

1 Videos

  • Worthless Securities and Losses on Small Business Stock

1 Quiz

  • Lesson 5.4 Knowledge Check

Lesson 5.5 Gains on Small Business Stock

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Gains on Qualified Small Business Stock

1 Quiz

  • Lesson 5.5 Knowledge Check

Module 5 Review

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 5 Quiz

Module 6 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 6 Overview and Resources

Lesson 6.1 Character of Gains and Losses: Introduction

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Character of Gains and Losses: Introduction

1 Quiz

  • Lesson 6.1 Knowledge Check

Lesson 6.2 The Netting Process

    • 3 Videos
    • 1 Quiz
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3 Videos

  • Part 1: Introduction to Netting Process
  • Part 2: 3 Key Steps to Netting Process
  • Part 3: Example of Netting Process

1 Quiz

  • Lesson 6.2 Knowledge Check

Lesson 6.3 §1231 Assets

    • 3 Videos
    • 1 Quiz
Show info about module content

3 Videos

  • Part 1: Introduction to §1231 Assets
  • Part 2: Netting Process of §1231 Assets
  • Part 3: Example of Netting Process of §1231 Assets

1 Quiz

  • Lesson 6.3 Knowledge Check

Module 6 Review

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 6 Quiz

Module 7 Information

    • 1 Readings
Show info about module content

1 Readings

  • Module 7 Overview and Resources

Lesson 7.1 §1245 Depreciation Recapture

    • 1 Videos
    • 1 Quiz
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1 Videos

  • §1245 Depreciation Recapture

1 Quiz

  • Lesson 7.1 Knowledge Check

Lesson 7.2 §1250 Depreciation Recapture

    • 1 Videos
    • 1 Quiz
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1 Videos

  • §1250 Depreciation Recapture

1 Quiz

  • Lesson 7.2 Knowledge Check

Lesson 7.3 Other Items in Netting Process

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Other Items in Netting Process

1 Quiz

  • Lesson 7.3 Knowledge Check

Lesson 7.4 §1239 Sale of Depreciable Property to Related Parties

    • 1 Videos
    • 1 Quiz
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1 Videos

  • Gain from Sale of Depreciable Property Between Related Parties

1 Quiz

  • Lesson 7.4 Knowledge Check

Lesson 7.5 The Net Investment Tax

    • 1 Videos
    • 1 Quiz
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1 Videos

  • The Net Investment Tax

1 Quiz

  • Lesson 7.5 Knowledge Check

Module 7 Review

    • 1 Quiz
Show info about module content

1 Quiz

  • Module 7 Quiz

Final Comprehensive Exam

    • 1 Readings
    • 1 Quiz
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1 Readings

  • Depreciation Tables

1 Quiz

  • Final Review

Module 8 Review

    • 3 Readings
    • 1 Discussion
    • 1 Plugin
Show info about module content

1 Discussions

  • Final Reflection: What Will You Do With It?

3 Readings

  • Course Wrap-Up
  • Congratulations on completing the course!
  • Get Your Course Certificate
Matthew Hutchens
Instructor

Matthew Hutchens