Federal Income Taxation - NMU Bulletin

ACT 321 Federal Income Taxation 4 cr.  (4-0-0)

• Offered: Fall Winter
• Prerequisites: ACT 240 with a grade of “C” or better and CIS 222 and EN 211 or equivalency.
• Bulletin Year: 2022 - 2023 Undergraduate Bulletin | View the current NMU Catalog.

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.