Corporate, Partnership, Estate and Gift Taxation 2023 Edition
$132.93 – $285.70
James W. Pratt – University of Houston
William N. Kulsrud – Indiana University
Hughlene Burton – University of North Carolina at Charlotte
Includes TaxAct Software Download and Electronic Homework
- Table of Contents
Pratt & Kulsrud’s Corporate, Partnership, Estate and Gift Taxation emphasizes the areas of taxation essential to individuals pursuing careers in taxation and tax-related fields. After an in-depth exploration of the tax problems faced by regular corporations and their shareholders, this text turns its focus to the taxation of partnerships, partners, and S corporations. These chapters are followed by a pair of chapters addressing the special problems relating to international taxation and state and local taxation—two areas of growing importance. After federal estate and gift taxation are discussed, the text concludes with two additional chapters on the income taxation of estates, trusts, and beneficiaries, and the major aspects of family tax planning. The scope of this text is intentionally broad, both to accommodate a variety of uses and to provide flexibility for instructors designing advanced tax courses. Includes TaxAct desktop software and Electronic Homework.
James W. Pratt
Professor Emeritus at University of Houston
James W. (Jim) Pratt is a Professor Emeritus of Accountancy & Taxation at the University of Houston’s C.T. Bauer College of Business. Jim joined the faculty in 1972 after receiving his doctorate degree from the University of Southern California. He has published articles in leading professional journals, such as the Journal of Accountancy, Journal of Taxation, Journal of Corporate Taxation, Journal of Partnership Taxation, and The Tax Adviser. In addition to his contributions as an author and editor, Jim has received several awards for outstanding teaching. He has also taught in continuing professional education programs for more than 40 years and has served as a tax training consultant for several national and local accounting firms.
William N. Kulsrud
Professor Emeritus at Indiana University
William N. (Bill) Kulsrud is a Professor Emeritus of Accounting at the Kelley School of Business of Indiana University, Indianapolis/Bloomington, and formerly served as Chair of the Master of Science in Accounting and Master of Science in Taxation programs. Bill joined the faculty in 1979 after receiving his Ph.D. from the University of Texas. He has published numerous articles, which have appeared in leading professional journals such as the Journal of Taxation, Journal of Corporate Taxation, The Tax Adviser, Taxation for Accountants, and Taxes—The Tax Magazine. In addition to his contributions as an author and editor, Bill has received many awards for outstanding teaching. In 1990, he was named Accounting Educator of the Year by the Indiana C.P.A. Society. He has also taught hundreds of professional education programs for national and local accounting firms and has developed materials used in their continuing education programs. Bill and author Steve Thompson founded National Tax Education, which provided continuing education for tax professionals throughout the country.
University of North Carolina, Charlotte
Hughlene Burton is an Associate Professor of Accounting at the Belk College of Business of the University of North Carolina–Charlotte. She received her BS in Accounting from Wake Forest University and her Ph.D. from the University of Alabama. She is the former Director of the Turner School of Accountancy. She is a CPA and joined the Belk College in 1996. Before joining academia, she was a tax manager with EY in Charlotte and Greensboro. Her research interests include corporate integration, tax policy, and corporate and international tax issues.
Hughlene A. Burton, Ph.D., C.P.A. University of North Carolina at Charlotte
Amy J. N. Yurko, JD, Ph.D., Duquesne University
Ramon Fernandez, M.B.A., C.P.A., C.F.P.® University of St. Thomas (TX)
Robert W. Jamison, Ph.D., C.P.A. Indiana University
William N. Kulsrud, Ph.D., C.P.A. Indiana University
Nathan Oestreich, Ph.D., C.P.A. San Diego State University
James W. Pratt, D.B.A., C.P.A. University of Houston
Roby B. Sawyers, Ph.D., C.P.A. North Carolina State University
Edward J. Schnee, Ph.D., C.P.A. University of Alabama
Steven C. Thompson, Ph.D., C.P.A. Texas State University
Amy J.N. Yurko, J.D., Ph.D. Duquesne University
Table of Contents
Part 1 Corporate Taxation
Chapter 1 — Income Taxation of Corporations
Appendix: ASC 740—Accounting for Income Taxes in the Financial Statements
Chapter 2 — Corporate Formation and Capital Structure
Chapter 3 — Corporate Distributions: Cash, Property, and Stock Dividends
Chapter 4 — Corporate Distributions: Stock Redemptions and Partial Liquidations
Chapter 5 — Complete Liquidations
Chapter 6 — Penalty Taxes on Corporate Accumulations
Part 2 Advanced Corporate Tax Topics
Chapter 7 — Corporate Reorganizations
Chapter 8 — Consolidated Tax Returns
Part 3 Flow-Through Entities
Chapter 9 — Taxation of Partnerships and Partners
Chapter 10 — Partnership Distributions, Dispositions of Partnership Interests,
and Partnership Terminations
Chapter 11 — S Corporations: General Rules Applicable to All S Corporations
Chapter 12 — S Corporations: Former C Corporations, Sales and Purchases
of Stock, Comparison of Entities
Part 4 Multijurisdictional Taxation
Chapter 13 — International Taxation
Chapter 14 — State and Local Taxation
Part 5 Family Tax Planning
Chapter 15 — Estate and Gift Taxation
Chapter 16 — Income Taxation of Estates and Trusts
Chapter 17 — Family Tax Planning
Part 6 Tax Research and Tax Practice
Chapter 18 — Sources and Applications of Federal Tax Law
Chapter 19 — Tax Practice and Procedure
Appendix A — Estate and Gift Tax Valuation Tables
Appendix B — Tax Forms
Appendix C — Table of Cases Cited
Appendix D — Table of Code Sections Cited
Appendix E — Table of Regulations Cited
Appendix F — Table of Revenue Procedures and Revenue Rulings Cited
Appendix G — Glossary of Tax Terms
Appendix H — Modified ACRS Tables
- Trusted annual updates throughout the entire Pratt-Kulsrud 2023 Tax Series reflect the latest, most important developments from the previous year.
Use the 2023 Tax Series with complete confidence that your course incorporates the most timely tax and business developments, including all updates to Internal Revenue laws, legislation, judicial decisions and administrative pronouncements by the Treasury Department and the Internal Revenue Service.
- Electronic Homework
Selected end of chapter problems are now available in e-format. Benefits include:
- All problems are associated with in-text learning objectives making it easy to assess students’ knowledge of specific content
- Problems are automatically graded and scores can be integrated into an LMS gradebook
If you plan on using the electronic homework, please contact firstname.lastname@example.org. A representative will be in contact with you about setting up your access to the online homework and integration into your LMS. If you plan on an LMS integration, reach out to your LMS contact as soon as possible about the submission process for external integrations at your school. We need to allow for ample time for this process. We will work directly with your LMS team and will provide you with detailed instructions that you will be able to share with your students and instructors.
- Coverage reflects the continuing impact of recent acts.
- The latest legislative updates affecting individual taxpayers keep your course up to date.
- All problems and examples reflect the most recent tax developments.
Updates and revisions to this edition’s tax return problems, test bank problems and tax return examples incorporate today’s most recent tax legislation.
- TaxAct Desktop Software download accompanies each new text.
- Data Analytics Case If you’d like to introduce your students to data analytics through a case study, Van-Griner Learning offers a complimentary case when bundled with print copies of Individual Taxation or Federal Taxation by Pratt & Kulsrud. Tax Reform: A Case Using Data Analytics (Sawyers, Dow, Jones, ISBN 978-1-61740-783-3) requires your students to interact with a United States government data set to understand how the Tax Cuts and Jobs Act of 2017 (TCJA) has impacted constituents depending on their zip codes. The case will take students approximately 2.5–3 hours to complete, and it comes with teaching notes and excel-based solutions for faculty. For more details about the case, please visit this link.
- Proven problem materials gauge comprehension. A variety of assessment tools at the end of each chapter check student understanding. These assessment tools include discussion questions and computational problems as well as tax-return problems that highlight topics discussed in the chapter.
- Solutions Manual. Solutions to end-of-chapter discussion questions and computational problems are included in this manual. Specific pages and examples from the text are referenced, as are supporting statutory and administrative authorities, when appropriate.
- Instructor’s Resource Guide and Test Bank. This guide includes solutions to comprehensive and tax research problems and tax-return problems, along with a test bank of more than 750 objective questions (true-false and multiple choice), whose answers reference specific pages and examples in the text.
- PowerPoint® Slides. Designed for classroom use, there are slides for each chapter’s principle topics, as well as slides containing solutions for many problems.
- Lecture Outlines. These outlines help instructors organize class discussions for greatest efficacy.
- Legislative Updates. Page-specific updates, tax law changes, and inflation adjustments are posted on a regular basis to the Pratt & Kulsrud website: Supplements.
- Instructor ancillaries. Including the Solutions Manual, Instructor’s Resource Guide and Test Bank, and Lecture Outlines — are provided online at our website. This gives instructors the ultimate tool for preparing and customizing lectures, presentations, and exams. To access the test bank files see the Test Bank Instructor Guide.
- Cognero is an easy-to-use test-creation online assessment system that allows you to create tests from the existing test banks. Instructors are able to edit, add, or remove from the test banks to customize them to fit their needs.
- Electronic Homework.
- Data Analytics Case. If you’d like to introduce your students to data analytics through a case study, Van-Griner Learning offers a complimentary case when bundled with print copies of Individual Taxation or Federal Taxation by Pratt & Kulsrud. Tax Reform: A Case Using Data Analytics (Sawyers, Dow, Jones, ISBN 978-1-61740-783-3) requires your students to interact with a United States government data set to understand how the Tax Cuts and Jobs Act of 2017 (TCJA) has impacted constituents depending on their zip codes. The case will take students approximately 2.5–3 hours to complete, and it comes with teaching notes and excel-based solutions for faculty. For more details about the case, please visit this link.
- TaxAct desktop software. Purchase of this book includes access for a limited time to the educational version of TaxAct Software.
- Electronic Homework.