AIM 3351-001

Individual Tax
Fall 2005
(July 13, 2005)

I. LECTURER
Ronald J. Blair, CPA, MBA
Office: SM 4.227, M/T/Th 9:00 a.m. - 4:00 p.m.
W 11:00 a.m. - 4.00 p.m.
Phone: 972-883-4430
Email: rblair@utdallas.edu
Home Page: http://www.utdallas.edu/~blair
TA: Jennifer
972-883-6498
bxh013000@utdallas.edu

E-Mail: Use WebCT to communicate with the instructor or TA. This is a

closed system and only the person to whom the message is address is allowed
access. Students may address messages to the instructor or TA privately. Or
they may be addressed to include all other students, such as to raise a question
that might be of interest to everyone; responses will be made accordingly.

Discussion: The Discussion feature can be used to post messages to other

members of the class. This is an open system and all class members can access
postings on it. The instructor’s TAs do not normally respond to this feature.
Personal messages should be sent by email and not posted on the
Discussion Board

II. COURSE MATERIALS

West Federal Taxation – Individual Income Taxes – 2006 Edition

Hoffman/Smith/Willis
Thomson/RIA/South-Western Publishing
III. COURSE OBJECTIVES
Critical Thinking

Ø Understand and apply income tax concepts that influence decisions of individual
taxpayers.
? Computation of Tax Liability
? Determination of Appropriate Exemptions
? Determination of Gross Income
? Application of Deductions
? Tax Effects of Property Transactions
Ø Apply concepts to determine the best course of action for individual taxpayers
when confronted with options involving tax planning.

Ethical Considerations in Tax Practice

Ø Appreciate the requirements and concepts contained in the Statements on

Standards for Tax Practice.
Ø Understand the ethical issues that confront both individual taxpayers and tax
practitioners on a day-to-day basis.

Enhance Communication Skills

Ø Class participation and discussion will improve communication skills.skills

gained from the above items will be reinforced through preparation of a Federal
individual income tax return

Enhance Understanding and Use of Computers Applications

Ø By the use of an on-line tax software preparation of the individual income tax
return.

IV. GRADING
Maximum Points

1. Three Tests 50
2. Preparation of Tax Returns 15
3. Final Examination 25
4. Classroom Participation and Quizzes 10
TOTAL POINTS 100

Tax Returns : Information concerning the tax returns will be posted by

October 13, 2005. Use of professional tax preparation software is

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 recommended, not required. RIAs InSource software is available for this
project. Information concerning this software is posted on WebCT. The
returns are due no later than November 1, 2005. There will be a 5 point
penalty for each day the return is late.

Class Participation: Students should read the assigned chapter and complete
the assigned questions and problems prior to class and participate in class
discussion. Solutions to the assigned questions and problems are posted on the
instructor’s web page. The final grade for the course may be enhanced as a
result of class participation.

Quizzes: There will be quizzes. Quizzes are due at the end of some chapters.

Translation of the total point score into a letter grade will be based on the instructor’s
judgment. The letter grade will reflect each student's performance relative to the course
and standards expected of graduate students at the University of Texas at Dallas.

NOTE: You MUST have a password and login ID from UTD’s Information Resources
Department in order to access databases and electronic journals. Allow at least 24
hours to activate your computer account.

V. GENERAL INFORMATION

Make-up policy: Only for very compelling reasons will a make-up test
be allowed.

University Policy on Cheating:

Students are expected to be above reproach in all-scholastic

activities. Students who engage in scholastic dishonesty are subject to
disciplinary penalties, including the possibility of failure in the course and
dismissal from the University. "Scholastic dishonesty includes but is not
limited to cheating, plagiarism, collusion, the submission for credit of any
work or materials that are attributable in whole or in part to another person,
taking an examination for another person, any act designed to give unfair
advantage to a student or the attempt to commit such acts." Regents' Rule
and Regulations, Part One, Chapter VI, Section 3, Subsection 3.2,
Subdivision 3.22. Since scholastic dishonesty harms the individual, all
students and the integrity of the University, policies on scholastic dishonesty
will be strictly enforced.

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VI. Course Schedule
Wee
k# Date Topic Assignment
1 A18 Chapter 1 Introduction to Federal Taxation
Discussion, Questions and Problems –
5, 7, 11, 12, 18, 23, 26, 39, 45, and 51
2 A23 Chapter 2 The Tax Law
Questions and Problems – 1, 9, 19, 22, 29, 44, 48 and 50
A25 Chapter 3 Tax Formula, Personal Exemptions, Property Trans
Questions and Problems –
1, 2, 3, 4, 8, 9, 12, 13, 17, 18, 20, 21, 41 and 55
3 A30/S1 Chapter 4 The Concept of Gross Income
Questions and Problems – 2, 3, 6, 12, 17, 19, 31, 36, 38,
45 and 60 (put data onto workpaper)
4 S6/8 Chapter 5 Exclusions from Gross Income
Questions and Problems – 5, 8, 11,1 2, 21, 24, 28, 31, 47,
49 and 59 (prepare to discuss)
5 S13 Chapter 6 Deductions and Losses in General
Questions and Problems – 2 , 4, 8, 11, 17,19, 21, 33, 45,
50,
53 and 61 (put data onto workpaper)
S15 Test #1 Test 1 - Chapters 1 - 5
6 S20 Chapter 7 Business Expenses and Losses
Questions and Problems - 3, 4, 9, 10, 21, 31, 34, 36, 37,
39, 40, 49 and 53 (put data onto workpaper)
Discuss Test #1
S22 Chapter 8 Depreciation, Amortization and Depletion
Questions and Problems – 4, 30, 31, 32, 35, 38, 39, 54,
55,
56, 57, and 59 (depreciation only)
7 S27/29 Chapter 8 Continued
Chapter 9 Employee / Self Employed Related Expenses
Questions and Problems – 2, 3, 8, 11, 19, 20, 38, 39, 40,
and 44

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8 O4/6 Chapter 10 Itemized Deductions
Questions and Problems -
1, 6, 12, 16, 24, 28, 29, 32, 38, 39, 40, and 43
9 O11 Chapter 11 Passive Activity Losses
Questions and Problems – 4, 11, 17, 18, 26, 34, 38, 40, 50
and 56
and 56
O13 Form 1040
Tax Return Software
Assign tax return problem
10 O18 Test #2 Chapters 6 – 11
O20 Chapter 12 Alternative Minimum Tax
Questions and Problems – 4, 5, 13, 17, 31, 39, 42, 43, 47,
and 58
11 O25/27 Chapter 14 Property Transactions - Gain / Loss
Questions and Problems –
6, 12, 15, 16, 18, 22, 30, 36, 44, 48, 50, 59 and 60
Discuss Test #2
12 N1/3 Chapter 15 Property Transactions - Nontaxable Exchanges
Questions and Problems -
6, 20, 28, 31, 35, 39, 49, 50, and 55
Tax Return is due
13 N8/11 Chapter 16 Property Transactions - Capital Gains / Losses
Questions and Problems – 3, 4, 7, 17, 20, 22 and 23
14 N15/17 Chapter 17 Property Transactions - Sec 1231 and Recapture
Questions and Problems -
12, 15, 23, 37, 38, 45, 49 and 52
15 N22 Form 1040 Review tax return project
N29 Final
16 Exam Chapters 12, 14-17

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Syllabus Addendum
Each student in this course is expected to exercise independent scholarly
thought, expression and aptitude. This addendum to the course syllabus is
provided to assist you in developing and maintaining academic integrity while
seeking scholastic success.
General Comments:
• All academic exercises (including assignments, essays, laboratory experiments and reports,
examinations, etc.) require individual, independent work. Any exception(s) will be clearly identified.
• Be sure your name or identifying number is on your paper.
• Complete and turn in academic exercises on time and in the required format (hardcopy, electronic,
etc.).
• Retain confirmation of document delivery if submitted electronically.
• Retain all research notes and drafts until the project or assignment has been graded.
• Obtain written authorization from your instructor prior to submitting a portion of academic work
previously submitted for any academic exercise. (This includes an individual or group project
submitted for another course or at another school.)
Essays and Significant Papers:
Be prepared
• To present periodic drafts of work in process
• To correctly and completely reference all sources of information using the citation format prescribed
• To turn your completed assignment in timely and in the prescribed manner (electronic, hardcopy, etc.)
Examinations:
Be prepared
• To leave all personal belonging at the front of the room or other designated location (this includes cell
phones, turned off of course, and beverage containers)
• To present your UTD Comet Card
• To remove your cap or hat
• To remove the batteries from any electronic device (e.g. calculator)
• To exchange blue books or bring them early as required
• To change seating
• To sign out when exiting the testing room
• To be escorted for lavatory use

All episodes of suspected scholastic dishonesty will be reported according

to University policy. Students who violate University rules on scholastic
dishonesty are subject to disciplinary penalties, including the possibility of
failure in the course and/or dismissal from the University. Since such
dishonesty harms the individual, all students and the University, policies on
scholastic dishonesty will be strictly enforced. Penalties that may be
assessed for scholastic dishonesty may be reviewed in Subchapter D.
Penalties at http://www.utdallas.edu/student/slife/chapter49.html