1. - University of Southern California



COURSE DESCRIPTIONACCT 561T Income Tax of Corporations and Their ShareholdersView Course Introduction: course offers concepts and principles governing the taxation of corporations and their shareholders; the effect of taxes on corporate formation, capital structure, distributions, and liquidations. Open only to Accounting, Business Taxation and Law/Business Taxation students. Prerequisites: ACCT 550T or ACCT 560T or LAW 600This online course is divided into modules. Module activities may include reading assignments, weekly lessons, interactive exercises, homework assignments, Blackboard discussion forums and MarshallTALK live video discussion forums. Students are required to participate in “real time” online sessions every Tuesday from 6:00 – 7:00 pm PT, in addition to completing other online content. Only register for this class if you can log on for these sessions. Blackboard Blackboard is the primary learning management system currently used at USC. From the Blackboard Course Home Page, students can access their course syllabus, identify readings, participate in discussion forums, submit assignments, and review grades at any time (asynchronously). They can also access links to the other platforms used in this course. Virtual ClassroomThe Virtual Classroom enables students to asynchronously view faculty lessons and other integrated course content. Students also use the Virtual Classroom to engage in self-assessment activities designed to help them understand and apply key course concepts. The Virtual Classroom is organized into weekly modules that correspond to the course syllabus and are designed to be taken in the order they appear. The interactive exercises within this Virtual Classroom are not graded but contain information that would otherwise be delivered in traditional class lectures and that may be included in the midterm and final exams. MarshallTALK Students and faculty will meet online on a regular basis at a pre-determined date and time (synchronously) in MarshallTALK, a live video discussion forum. MarshallTALK allows students to discuss course content and to ask questions in real time and may also be used as a forum for individual or group presentations. System Requirements:The following equipment is required to successfully participate in this online course: Computer (Note: MacBook Air laptops must use an external webcam in MarshallTALK)High speed Internet connection Headset or built-in speakers & microphoneWebcam OVERVIEW OF TOOLSETSBlackboard (Bb)This toolset is the primary learning management system currently used at USC and may be accessed at . From the Blackboard Course Home Page, students can access their course syllabus, identify readings, participate in discussion forums, submit assignments, and review grades at any time (asynchronously). They can also access links to the other platforms used in this course. Virtual ClassroomCourse content is located in the Virtual Classroom. A link to this toolset will be found in the Bb Course Home Page. The Virtual Classroom enables students to view course related videos and other integrated course content at any time (asynchronously). Students will also use the Virtual Classroom to take part in self-assessment activities to make sure they understand key course concepts. The Virtual Classroom is organized by modules. Refer to the Course Syllabus for the weekly Virtual Classroom modules that you should view and complete the exercises. The Virtual Classroom exercises are not graded but contain core course content normally found in traditional class lectures. MarshallTALKThrough MANDATORY MarshallTALK sessions, students and faculty will meet (virtually) through a live video discussion forum. MarshallTALK allows students to discuss course content and ask questions at a scheduled time (synchronously) with faculty and peers and may also be used as a forum for guest speakers and industry experts. A link and instructions to join MarshallTALK sessions will be posted in the Bb Course Home Page.SYSTEM REQUIREMENTSBrowser Requirements:Internet Explorer 9.x and above on PCsFireFox 3.6 and above on PCsSafari 3.6 and higher on Mac (only)Firefox 3.x and higher on MacGoogle ChromeComputer with camera, speakers, and microphone Recommended microphone/headset: Recommended webcam: High Speed Internet Connection (Wireless or Cabled)TECHNICAL SUPPORTUSC Information Technology Services (for Blackboard support):Call (213) 740-5555 or email consult@usc.edu. For more information, visit their website at: Marshall (for Virtual Classroom support):Call (213) 740-3000 Monday through Friday, 7:00am to 6:00pm PST or visit their website at: MarshallTALK empowered by WebEx Support: marshall.talk@marshall.usc.eduACCT 561T - Income Tax of Corporations and Their ShareholdersSpring 2014 / January 13 – May 6Online Course SyllabusThis course offers concepts and principles governing the taxation of corporations and their shareholders; the effect of taxes on corporate formation, capital structure, distributions, and liquidations. Open only to Accounting, Business Taxation and Law/Business Taxation students. PREREQUISITES:ACCT 550T or ACCT 560T or LAW 600INSTRUCTOR: Joseph L. KellerLeventhal School of AccountingUniversity of Southern California3660 Trousdale Parkway, Room 212Los Angeles, CA 90089-0441CONTACT: Email: jkeller@marshall.usc.eduPhone: 213-740-4846Office Hours: By appointment and as posted on BlackboardEMERGENCY NUMBERS: USC Emergency Info Line: 213-740-9233USC Emergencies: 213-740-4321USC Information Line: 213-740-2311or KUSC Radio (91.5 FM)TEXTS:Fundamentals of Corporate Taxation, 8th Edition.Stephen Schwarz and Daniel J. LathropeFoundation Press (June 14, 2012)Federal Income Taxation of Corporations and Shareholders, 7th Edition (Student Edition). James Eustice and Boris Bittker(Free access through RIA Checkpoint)Federal Income Tax: Code and Regulations - Selected Sections, 2013-2014Edition.Martin B. DickinsonCCH Incorporated (June 1, 2013) PROGRAM LEARNING OUTCOMES:USC Leventhal School of Accounting faculty and administration have adopted five student learning outcomes for our graduate program. This course will deal primarily with Learning Outcome #1: Technical, Conceptual, Problem-Solving Requirement. To a lesser extent, this course will also touch on Outcome #3: Research/Life-Long Learning Requirement and Outcome #4: Principles and Professional Standards Requirement. 1. Technical, Conceptual, Problem-Solving Requirement Students will be competent in and be able to apply discipline-specific knowledge and skills in the fields of accounting or taxation. This learning outcome includes the development of critical thinking and problem solving skills, as well as an understanding of the strategic role of accounting in business organizations and society.2. Professional Development Requirement Students will be able to communicate clearly, and strategically, after considering the relevant audience, situation, and purpose of the communication. Students will develop the ability to work productively with others to accomplish established goals.3. Research/Life-Long Learning Requirement Students will be able to use relevant research databases and academic/professional literature to gain new knowledge and analyze business situations.4. Principles and Professional Standards RequirementStudents will be able to apply ethical principles and professional standards in analyzing situations and making informed decisions.5. Globalization RequirementStudents will be able to demonstrate an international perspective and appreciation for diversity and cultural differences, along with their significance in global business.4. EthiCOURSE LEARNING OUTCOMES:By the end of this course, students will be able to:Determine the tax consequences to each party of the formation of a corporation by analyzing case studies and solving problems Distinguish between debt and equity by applying judicial criteria to various instruments Calculate the amount of a corporate distribution that is taxable as a dividend by solving problems through application of applicable code sectionsDistinguish between a redemption that can be treated as a sale or exchange and one that is taxed as a dividend by using the internal revenue code to solve problems Determine the appropriate tax treatment of a liquidation by solving problems GRADES: Participation (Bb Discussion Forum & MarshallTALK)100 pts. Homework Problems100 pts.Independent Research Paper100 pts.Midterm Exam 300 pts.Final Exam 300 pts. -----Total900 pts. GRADING POLICIES:This course adheres to the USC Leventhal School of Accounting and Marshall School of Business grading Standards for graduate programs. In general, final course grades at the graduate level in a core course average approximately B+ (3.3) but may vary based on class performance. For elective courses, the class average is usually higher (approximately 3.5), which is between a B+ and an A-. You must receive a C or better to pass a required class, and you must have an overall B average (3.0 minimum) in order to graduate from USC.Posts to the Blackboard discussion forum are required as noted in this syllabus. Posts must be substantive and original in content, and students must respond to at least one of their peers in a thoughtful and thought-provoking manner. Discussion forum posts and responses are required and count towards the participation grade. Participation in the MarshallTALK live video discussion forum is MANDATORY, and students should be present and prepared to engage with the class at the date and time indicated each week in order to earn participation credit for this activity. Homework Problems must be uploaded in Blackboard Assignments by the due date stated in each module. Unless otherwise indicated, these problems are to be completed individually and then turned in each week. Homework problems for MarshallTALK discussion will be included as part of the participation grade and will not be returned to you. Homework problems to be turned in as part of the homework assignment grade will be returned to you with a grade. An independent research paper will be due in Module 14 and will be graded on content as well as on grammar, spelling, punctuation and overall organization. Each student is to upload his or her research paper in Blackboard Assignments by the due date indicated in the syllabus in order to earn credit. Mid-term and final exams will be given online. Make up exams will be given only when a student has received approval from the instructor. ONLINE LEARNING:This course is divided into fifteen modules, and each module is intended to cover one week. Students are also encouraged to participate in the Orientation Week in order to learn how to use the online tools available to them before the official start of class in Module 1. Module activities may include reading assignments, weekly lessons, interactive exercises, homework assignments, Blackboard discussion forums and MarshallTALK live video discussion forums. Blackboard (Bb) Blackboard is the primary learning management system currently used at USC and may be accessed at with valid USC username and password. From the Bb Course Home Page, students can access their course syllabus, identify readings, participate in discussion forums, submit assignments, and review grades at any time (asynchronously). They can also access links to the other platforms used in this course. General questions regarding course material, content, or procedures should be posted in the Blackboard discussion board or addressed during MarshallTALK so that faculty responses may benefit all class members.Virtual ClassroomThe Virtual Classroom enables students to asynchronously view faculty lessons and other integrated course content. Students also use the Virtual Classroom to engage in self-assessment activities designed to help them understand and apply key course concepts. The Virtual Classroom is organized into weekly modules that correspond to the course syllabus and are designed to be taken in the order they appear. The interactive exercises within this Virtual Classroom are not graded but contain information that would otherwise be delivered in traditional class lectures and that may be included in the midterm and final exams. A link to this platform will be found in Bb Course Pages.MarshallTALK Students and faculty will meet online on a regular basis at a pre-determined date and time (synchronously) in MarshallTALK, a live video discussion forum. MarshallTALK allows students to discuss course content and to ask questions in real time and may also be used as a forum for individual or group presentations. A link to MarshallTALK will be found in Bb Course Pages.SYSTEM REQUIREMENTSBrowser Requirements:Internet Explorer 9.x and above on PCsFireFox 3.6 and above on PCsSafari 3.6 and higher on Mac (only)Firefox 3.x and higher on MacGoogle ChromeComputer with camera, speakers, and microphoneRecommended microphone/headset: Recommended webcam: High Speed Internet Connection (Wireless or Cabled)TECHNICAL SUPPORTUSC Information Technology Services (for Blackboard support):Call (213) 740-5555 or email consult@usc.eduFor more information, visit their website at: Marshall (for Virtual Classroom support):Call (213) 740-3000 Monday through Friday, 7:00am to 6:00pm PSTOr visit their website at: MarshallTALK empowered by WebEx Support: marshall.talk@marshall.usc.eduSTUDENT CONDUCT CODE:Students are subject to the Leventhal School of Accounting student honor code and to the USC student conduct code, which states: General principles of academic integrity include and incorporate the concept of respect for the intellectual property of others, the expectation that individual work will be submitted unless otherwise allowed by an instructor, and the obligations both to protect one’s own academic work from misuse by others as well as to avoid using another’s work as one’s own. All students are expected to understand and abide by these principles. For more information, go to: visit: WITH DISABILITIES:Any student requesting academic accommodations based on a disability is required to register with Disability Services and Programs (DSP) each semester. A letter of verification for approved accommodation can be obtained from DSP. Please be sure the letter is delivered to me as early in the semester as possible. DSP is located in STU 301 and is open 8:30 a.m. – 5:00 p.m., Monday through Friday. The phone number for DSP is (213) 740-0776. For more information, go to: OF GRADED PAPERS:Final exams and other graded work that affected the course grade will be kept for one year. Other papers or work that are handed back but that students fail to pick up will be held for one month. Discussion forums and other online work will be deleted at the end of the course. Orientation WeekIntroduction to Online CourseworkLearning OutcomesAccess Blackboard (Bb) Course MaterialsNavigate the Virtual Classroom (found in Bb under “Websites”)Introduce yourself using Bb Discussion ForumSubmit an Assignment on BbAttend a MarshallTALK session ReadingsCourse Syllabus (found in Blackboard)Activities Virtual Classroom (found in Blackboard)Review the weekly modules for this course. Blackboard Discussion ForumPost your bio or introduction in the Blackboard Discussion Board. In 100 words or less, describe:who you are what you do for a living where you are located what corporate tax experience you have RESPOND TO AT LEAST ONE OF YOUR PEERS. Student Pre-Course Survey Students are asked to complete the pre-course survey. A link to the survey will be found in Bb prior to the 1st week of class. AssessmentsBlackboard AssignmentBased on the syllabus for this course, write a maximum of 100 words explaining which module you are most interested in and why. Upload into Blackboard. Module 1:Wed-TueJan 15-Jan 21Formation of a Corporation ILearning OutcomesParaphrase the three basic requirements for application of Section 351.Explain the significance of Section 1032 for corporations.Calculate the consequences of Sections 351 and 1032 for shareholders and corporations, relating to gains/losses, basis, and holding period.Define the basic terms relating to Section 351, including “persons”, “property”, “control”, “immediately after”, and “transferor of property”.Interpret the treatment of a shareholder transferring property and services under Section 351.ReadingsBittker and Eustice 3.01-3.05 & 3.07-3.09Code Sections 351, 358, 362, 1032, 1223(1), 1223(2)ActivitiesVirtual Classroom Lesson 1 Review Content and Self-Assessment Exercises Bb Discussion Forum Keeping in mind that there are 3 parties in every transaction—the corporation, the shareholders and the IRS—when would the parties care whether 351 applies? Why would they care?POST YOUR DISCUSSION BY SATURDAY, 11:59 PMRESPOND TO AT LEAST ONE PEER BY SUNDAY, 11:59 PM MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 60Page 67UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 2:Wed-TueJan 22-Jan 28Formation of a Corporation IILearning OutcomesDetermine the tax treatment of “boot” under Section 351.Determine how much realized gain or loss gets recognized when a shareholder receives “boot”.Determine how “boot” is allocated when more than one property is transferred.Calculate the recognized gain when a shareholder receives an installment note in a 351 transaction.Evaluate the tax consequences of liabilities being assumed under Section 357.ReadingsBittker and Eustice 3.06 & 3.10-3.12Code Sections 351, 357ActivitiesVirtual Classroom Lesson 2 Review Content and Self-Assessment Exercises Bb Discussion Forum What are 3 ways to get around a 357(c) problem? Elaborate on your answers based on the Lessinger & Peracchi court cases. POST YOUR DISCUSSION BY SATURDAY, 11:59 PMRESPOND TO AT LEAST ONE PEER BY SUNDAY, 11:59 PM MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 69 Page 79 Turn in homework problems in Schwarz and Lathrope as part of your homework grade. These problems will be graded and returned to you:Page 98 #1 & #2 UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 3:Wed-TueJan 29-Feb 4Formation of a Corporation IIILearning OutcomesDistinguish between a 351 transaction and a sale.Examine the special challenges created by incorporating an existing business.Illustrate the impact of the separate entity status of a corporation after a 351 transaction.Determine the appropriate tax treatment of organizational costs.Interpret the tax provisions related to contributions to the capital of a corporation under Section pare the basis considerations to corporations of shareholders’ contributions versus non-shareholders’ contributions under Section 362.Analyze the tax treatment of the shareholder or non-shareholder contributor on a contribution to capital.ReadingsBittker and Eustice 3.13-3.21Code Sections 108, 118, 248, 351, 362, 367ActivitiesVirtual Classroom Lesson 3 Review Content and Self-Assessment Exercises Bb Discussion Forum Once property is transferred to a newly formed corporation in a 351 transaction, the corporation is considered a new entity. Discuss what is available to it as a new entity, including elections. POST YOUR DISCUSSION BY SATURDAY, 11:59 PMRESPOND TO AT LEAST ONE PEER BY SUNDAY, 11:59 PM MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 113UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 4:Wed-TueFeb 5-Feb 11Capital Structure Learning OutcomesEvaluate the business considerations of a corporation issuing debt versus equity.Classify characteristics of classic debt versus classic pute debt-to-equity ratios.Evaluate the tax treatment on disposition or worthlessness of debt/equity.Identify requirements for 1244 stock.ReadingsBittker and Eustice 4.0-4.25Code Sections 163, 385, 1244ActivitiesVirtual Classroom Lesson 4 Review Content and Self-Assessment Exercises Bb Discussion ForumIs it better that the debt or equity area of the tax law be vague or would it be better if we had detailed regulations under Section 385, as were once proposed? POST YOUR DISCUSSION BY SATURDAY, 11:59 PMRESPOND TO AT LEAST ONE PEER BY SUNDAY, 11:59 PM MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 142 #1 and #2Page 147UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 5:Wed-TueFeb 12-Feb 18Overview of Corporate TaxationLearning OutcomesReview basic judicial doctrines with regards to corporate taxation.Apply Code Sections 11 in determining corporate tax rates and the application of deductions versus credits.Construct the formula for computing the alternative minimum tax.Explain the alternate taxable years and accounting methods that a corporation can use.Identify the steps necessary to avoid situations that can result in potential penalty taxes.Apply the principles behind “check the box” regulations.ReadingsBittker and Eustice 1.01-1.07 & 2.01-2.07Code Sections 11, 55, 56, 57, 531, 542ActivitiesVirtual Classroom Lesson 5 Review Content and Self-Assessment Exercises Bb Discussion Forum Substance over Form. “Tax court is wary of extending the judicial doctrines where Congress has mandated particular results which shall flow from a given form and the taxpayers have carefully structured an otherwise legitimate transaction to comply with the statutory requirements.” Do you think this statement is still applicable or have the courts evolved into a less taxpayer-friendly position? POST YOUR DISCUSSION BY SATURDAY, 11:59 PMRESPOND TO AT LEAST ONE PEER BY SUNDAY, 11:59 PM MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. See TAXATION OF A CORPORATION in power point slidesAssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 26UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 6:Wed-TueFeb 19-Feb 25Non-Liquidating Distributions ILearning OutcomesDistinguish between a distribution and dividend.Differentiate between current Earnings & Profits and accumulated Earnings & Profits.Detect when constructive distributions occur.Demonstrate how the source of cash distributions is determined.Measure the impact of cash distributions on the distributing corporation.ReadingsBittker and Eustice 8.01-8.05Code Sections 301, 311, 312, 316, 317, 318ActivitiesVirtual Classroom Lesson 6 Review Content and Self-Assessment Exercises Bb Discussion Forum No Discussion Forum This Week MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your homework grade. These problems will be graded and returned to you:Page 158 Page 162 UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 7:Wed-TueFeb 26-Mar 4Non-Liquidating Distributions IILearning OutcomesDifferentiate the tax consequences of a property distribution versus a cash distribution.Determine the tax consequences to the corporation of a property pute the basis to shareholders of a property distribution.Calculate the effect on earnings & profits of the distribution of depreciated property.ReadingsBittker and Eustice 8.20-8.23Code Sections 301, 311, 312, 316, 317, 318ActivitiesVirtual Classroom Lesson 7 Review Content and Self-Assessment Exercises Bb Discussion Forum No Discussion ForumMarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your homework grade. These problems will be graded and returned to you:Page 167 (GROUP PROBLEM - ONE SOLUTION TO BE TURNED IN FOR THE GROUP)UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 8:Wed-TueMar 5-Mar 11MID TERM EXAM Learning OutcomesSuccessfully complete the Mid Term Exam for 561TReadingsReview AllActivities Virtual Classroom Lesson 8 Take a Moment to Watch our Guest Speaker for this ModuleMarshallTALK will take place on Tuesday from 6:00pm to 6:30pm PT. Assessments Mid Term Exam will take place on Tuesday, March 11th, from 6:30pm to 8:30pm PT and will be accessible through Blackboard under “Quizzes and Exams.” SPRING BREAK: March 17th –March 21stModule 9:Wed-TueMar 12-Mar 25Stock Redemptions & Partial Liquidations ILearning OutcomesExplain what a redemption is.Distinguish between the tax consequences of a redemption that is treated as a 301 distribution versus a redemption that is treated as a sale or exchange.Summarize why a redemption should be treated as a sale or exchange or as a 301 distribution.Identify the four criteria of Section 302.Apply constructive ownership rules to allocate ownership to an entity.ReadingsBittker and Eustice 9.01-9.07Code Sections 302, 318ActivitiesVirtual Classroom Lesson 9 Review Content and Self-Assessment Exercises Bb Discussion Forum No Discussion Forum This WeekMarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 200 #1 and #2Page 204 #2Turn in homework problems in Schwarz and Lathrope as part of your homework grade. These problems will be graded and returned to you: Page 204 #1UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 10:Wed-TueMar 26-Apr 1Stock Redemptions & Partial Liquidations IILearning OutcomesApply the three Section 302(b)(2) tests to determine if a substantially disproportionate redemption has occurred.Distinguish when Section 302(b)(1) would apply to treat a redemption as a sale or exchange.Apply the rules of Section 302(b)(3) including the waiver of attribution rule under Section 302(c) to determine if a redemption qualifies as a sale or exchange.Evaluate situations where Section 302(b)(4) might apply and determine if all the requirements are met.Measure the benefit resulting from the application of Section 303 including the impact of stepped up basis.ReadingsBittker and Eustice 9.08-9.09Code Sections 302, 303ActivitiesVirtual Classroom Lesson 10 Review Content and Self-Assessment Exercises Bb Discussion ForumWhy do you think Congress enacted Section 303, and do you think it is a significant benefit to those taxpayers to whom it applies? Why or why not? POST YOUR DISCUSSION BY SATURDAY, 11:59 PMRESPOND TO AT LEAST ONE PEER BY SUNDAY, 11:59 PM MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 221 #1Page 235 #1, #2, and #3UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 11:Wed-TueApr 2-Apr 8Stock Redemptions & Partial Liquidations IIILearning OutcomesExplain what happens to basis when the redemption of stock is treated as a dividend under Section 301.Define redemptions through the use of related corporations under Section 304Determine if Section 301 applies to the 304 deemed redemption.Analyze the transactions that are deemed to occur if Section 301 applies to the 304 distribution.Determine the taxability of the transaction if Section 301 does not apply to a 304 deemed distribution.ReadingsBittker and Eustice 9.20-9.25Code Sections 302, 304ActivitiesVirtual Classroom Lesson 11 Review Content and Self-Assessment Exercises Bb Discussion Forum There is no discussion forum this week. MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 274Page 289Turn in homework problems in Schwarz and Lathrope as part of your homework grade. These problems will be graded and returned to you:Page 222 #2 (Group Problem)Page 286 #2 (Group Problem)UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 12:Wed-TueApr 9-Apr 15Stock Dividends & 306 StockLearning OutcomesCalculate the tax consequences if Section 305(a) applies/does not apply.Identify exceptions to the application of Section 305(a).Determine when a shareholder has received 306 stock.Calculate the tax consequences of a subsequent redemption of 306 stock.Calculate the tax consequences of a subsequent sale or other disposition of 306 stock.ReadingsBittker and Eustice 8.40-8.66Code Sections 305, 306, 307ActivitiesVirtual Classroom Lesson 12 Review Content and Self-Assessment Exercises Bb Discussion ForumWhat is the difference between a one-for-one stock dividend and a two-for-one stock split and why would a corporation do either one? POST YOUR DISCUSSION BY SATURDAY, 11:59 PMRESPOND TO AT LEAST ONE PEER BY SUNDAY, 11:59 PM MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 303 #1 and #2Page 316 #1 and #2Independent Research Paper DueUPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 13:Wed-TueApr 16- Apr 22Complete LiquidationsLearning OutcomesDistinguish a complete liquidation from a sale.Discuss the principle advantages of a liquidation distribution over a dividend.Calculate the tax consequences to the shareholder on receipt of property in a complete pute the amount of gain recognized by liquidating a corporation on a complete liquidation under Section 336.Calculate the amount of losses allowed in liquidating distributions under Section 336(d).Determine the basis of property received in liquidations under Section 334.ReadingsBittker and Eustice 10.01-10.08Code Sections 331, 334, 336ActivitiesVirtual Classroom Lesson 13 Review Content and Self-Assessment Exercises Bb Discussion Forum Read Reg. Section 1.332-2(c). Refer to the reading in the text regarding the 3-prong test. What is the meaning of complete liquidation? In the case of Cornerstone Real Estate Investment Corp., is a plan of complete liquidation required? Would you recommend a plan of complete liquidation for the shareholders? Why or why not? POST YOUR DISCUSSION BY SATURDAY, 11:59 PMRESPOND TO AT LEAST ONE PEER BY SUNDAY, 11:59 PM MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 322Turn in homework problems in Schwarz and Lathrope as part of your homework grade. These problems will be graded and returned to you:Page 335 (Group Problem)UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 14:Wed-TueApr 23-Apr 29Subsidiary LiquidationsLearning OutcomesApply criteria for qualifying for subsidiary liquidation under Section 332.Explain the challenges of insolvency in attempting a 332 liquidation.Illustrate the carryover of tax attributes in a Section 332 pute the basis of the liquidated assets in the hands of the Parent Corporation under Section 334 (b).Apply Section 337(a) in determining the recognition of gains/losses to the liquidating corporation.Determine affect of the subsidiary liquidation on the minority shareholders.ReadingsBittker and Eustice 10.20-10.24Code Sections 332, 334, 337, 381ActivitiesVirtual Classroom Lesson 14 Review Content and Self-Assessment Exercises Bb Discussion Forum There is no discussion forum this week. MarshallTALK will take place on Tuesday from 6:00pm to 7:00pm PT. AssessmentsBb AssignmentTurn in homework problems in Schwarz and Lathrope as part of your participation grade. Be prepared to discuss in MarshallTALK:Page 347 #2, and #3Turn in homework problems in Schwarz and Lathrope as part of your homework grade. These problems will be graded and returned to you:Page 347 #1UPLOAD ALL Bb ASSIGNMENTS BY SUNDAY, 11:59PMModule 15:Wed-TueApr 30- May 6FINAL EXAM REVIEWLearning OutcomesSuccessfully complete the Final Exam for 561TReadingsReview AllActivities Virtual Classroom Lesson 15Take a Moment to Watch our Guest Speaker for this ModuleMarshallTALK will take place on Tuesday from 6:00pm to 6:30pm PT. Assessments Final Exam will take place on Tuesday, May 6th, from 6:30pm to 8:30pm PT and will be accessible through Blackboard under “Quizzes and Exams.” ................
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