Bulletin Year: 2020 - 2021 Undergraduate Bulletin | View the current NMU Catalog. | View this course in the current bulletin.
ACT 321 Federal Income Taxation 4 cr. Basics of individual federal income taxation. Major topics include basic tax model, gross income, deductions, alternative minimum tax, property, nontaxable exchanges, capital gains/losses, depreciation and deferred compensation. Policy and historical developments are studied to aid comprehension of current law.