The Tax Law of Charitable Giving, 5th Edition

Chapter TwoThe United States Tax System: An Overview

1. § 2.1 Concept of Income
2. § 2.2 Gross Income
3. § 2.3 Exclusions from Income
4. § 2.4 Concept of Adjusted Gross Income
5. § 2.5 Deductions
   1. (a) Business Expense Deductions
   2. (b) Personal Expense Deductions
   3. (c) Itemized Deduction Limitation
6. § 2.6 Standard Deduction
7. § 2.7 Concept of Taxable Income
   1. (a) Personal Exemption
   2. (b) Dependent Exemption
   3. (c) Phaseout of Exemptions
8. § 2.8 Taxable and Nontaxable Entities
9. § 2.9 Annual Accounting Period
10. § 2.10 Accounting Methods
11. § 2.11 Timing
12. § 2.12 Property
    1. (a) Real Property
    2. (b) Personal Property
    3. (c) Tangible Personal Property
    4. (d) Intangible Personal Property
13. § 2.13 Inventory
14. § 2.14 Gain
    1. (a) Basis
    2. (b) Adjusted Basis
    3. (c) Determination of Gain
    4. (d) Realization
    5. (e) Appreciation
    6. (f) Recognition
15. § 2.15 Taxation of Income
    1. (a) General Rules
    2. (b) Tax on Net Investment Income
16. § 2.16 Capital Assets, Gains, and Losses
    1. (a) Capital Assets
    2. (b) Ordinary Income; Capital Gains and Losses
    3. (c) Long- and Short-Term Capital Gains and Losses
17. § 2.17 Carryovers and Carrybacks
18. § 2.18 Alternative Minimum Tax
19. § 2.19 Depreciation
20. § 2.20 Capital Gains and Losses Rates
21. § 2.21 Taxation of Corporate Distributions
22. § 2.22 Accumulated Earnings and Personal Holding Company Taxes
23. § 2.23 Tax Credits
24. § 2.24 Foreign Tax Credits
25. § 2.25 Federal Tax Law Definition of Marriage

The law in the United States concerning charitable giving is essentially a component of the federal income tax law.¹ The federal law of charitable giving is inextricably ...