3 credits
Fall 2026 Lecture Upper Division
Basic tax course designed to provide an understanding of the various federal taxes, including income, gift, estate, excise, federal insurance contribution, self-employment, and unemployment taxes.
Learning Outcomes1Calculate the income tax liability for individuals, understand basic tax planning strategies, and prepare individual tax returns.
2Understand broadly how different business entities are taxed including formation, operations, distributions, and liquidations.
3Calculate the income tax liability for C Corporations, understand basic tax planning strategies, and prepare basic C Corporation tax returns.
4Report the results from operations for partnerships and S Corporations.
5Understand broadly the tax treatment of property transactions encountered by individuals and business entities.
Prerequisites
Restrictions
made by Purdue students.