The authors build a secure platform for understanding:

- unique Examples & Explanations series style combines textual material with well-written examples, explanations, and questions to test student comprehension of the materials and provide practice in applying information to fact patterns

- comprehensive coverage combines cases, statutory, and regulatory analysis

- compatibility with a wide variety of casebooks

- clear and straightforward writing style helps to demystify a difficult and intimidating subject

- Exam Appendix includes eight actual law school exams, complete with suggested answers

- numerous policy questions appear throughout the text

- logical organization helps students progress through the material

- helpful introductions explain the concepts to be studied

- the book has been thoroughly updated for its Fourth Edition:

- reflects changes in the tax law since 2001, including those resulting from the Jobs and Growth Tax Relief Reconciliation Act of 2003, the Working Families Tax Relief Act of 2004, and the American Jobs Creation Act of 2004

- includes new and updated examples and explanations

This supplemental textbook clarifies which specific items are included or excluded for purposes of computing gross income according to current case law, examines personal deductions and credits, considers the basic statutory framework for deducting the costs of earning income, an explains capital gains and losses. The fourth edition reflects changes legislated by 2003 and 2004 tax relief acts.
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