Analyzes federal income taxation of property transactions, including definition and mechanics of property transactions, definition of capital assets, nonrecognition property transactions, including IRC Sections 121, 1031 and 1033; examination of the at risk and passive loss rules. Corequisite(s): TA 318, (TA 329A or TA 329), and TA 329B. Cross-listed with and equivalent
to the following course. (Note: no academic credit is awarded for retaking equivalent course.): LLM 330.