Basic Federal Income Taxation: Gross Income: Gifts, Bequests, Prizes, and Donative Cancellations of Indebtedness

This lesson is best used after studying the material in class. Unlike many of CALI's other lessons, this lesson takes a more problem oriented approach to learning the material. The lesson provides students with additional problem sets to work through, allowing students to refine their ability to apply the Code and Regs. to a variety of situations.