South-Western Federal Taxation 2026,
1st Edition

Part I: INTRODUCTION AND BASIC TAX MODEL.
1. An Introduction to Taxation and Understanding the Federal Tax Law.
2. Working with the Tax Law.
3. Tax Formula and Tax Determination: An Overview of Property Transactions.
Part II: GROSS INCOME.
4. Gross Income: Concepts and Inclusions.
5. Gross Income: Exclusions.
Part III: DEDUCTIONS.
6. Deductions and Losses: In General.
7. Deductions and Losses: Certain Business Expenses and Losses.
8. Depreciation, Cost Recovery, Amortization, and Depletion.
9. Deductions: Employee and Self-Employed-Related Expenses.
10. Deductions and Losses: Certain Itemized Deductions.
11. Investor Losses.
Part IV: SPECIAL TAX COMPUTATIONS METHODS, TAX CREDITS, AND PAYMENT PROCEDURES.
12. Alternative Minimum Tax.
13. Tax Credits and Payment Procedures.
Part V: PROPERTY TRANSACTIONS.
14. Property Transactions: Determination of Gain or Loss, and Basis Considerations.
15. Property Transactions: Nontaxable Exchanges.
16. Property Transactions: Capital Gains and Losses.
17. Property Transactions: Section 1231, and Recapture Provisions.
Part VI: ACCOUNTING PERIODS, ACCOUNTING METHODS, AND DEFERRED COMPENSATION.
18. Accounting Periods and Methods.
19. Deferred Compensation.
Part VII: CORPORATIONS AND PARTNERSHIPS.
20. Corporations and Partnerships.
Appendix A: Tax Formulas, Tax Rate Schedules, and Tables.
Appendix B: Tax Forms.
Appendix C: Glossary.
Appendix D: Table of Code Sections Cited.
Appendix E: Present Value and Future Value Tables.
Appendix F: Practice Set Assignments – Comprehensive Tax Return Problems.
Index.

• James C. Young

  James C. Young, Ph.D., C.P.A., is the PricewaterhouseCoopers Professor of Accountancy at Northern Illinois University. He earned his B.S. from Ferris State University and his M.B.A. and Ph.D. from Michigan State University. Dr. Young's research focuses on taxpayer responses to the income tax, using archival data. His dissertation received the PricewaterhouseCoopers/American Taxation Association Dissertation Award and his subsequent research has received funding from a number of organizations, including the Ernst & Young Foundation Tax Research Grant Program. His work has been published in a variety of academic and professional journals, including the National Tax Journal, The Journal of the American Taxation Association and Tax Notes. Honored as a Northern Illinois University Distinguished Professor, Dr. Young received the Illinois C.P.A. Society Outstanding Accounting Educator Award in 2012. In addition, he has received numerous university teaching awards from Northern Illinois University, George Mason University and Michigan State University.

• Annette Nellen

  Annette Nellen, C.P.A., C.G.M.A., Esquire, directs San José State University’s graduate tax program (M.S.T.) and teaches courses in tax research, tax fundamentals, accounting methods, property transactions, employment tax, ethics and tax policy. Professor Nellen is a graduate of CSU Northridge, Pepperdine (M.B.A.) and Loyola Law School. Prior to joining San José State University (SJSU) in 1990, she worked with a Big Four firm and the IRS. At SJSU, Professor Nellen has been recognized with the Outstanding Professor and Distinguished Service awards. She is an active member of the tax sections of the AICPA, American Bar Association and California Lawyers Association. She chaired the AICPA Tax Executive Committee from October 2016 to May 2019. In 2013, she received the AICPA Arthur J. Dixon Memorial Award -- the highest award given by the accounting profession in the area of taxation. Professor Nellen is the author of Bloomberg Tax Portfolio, Amortization of Intangibles. She has published numerous articles in the AICPA Tax Insider, The Tax Adviser, State Tax Notes and The Journal of Accountancy. She has testified before the House Ways & Means and Senate Finance Committees and other committees on federal and state tax reform. Professor Nellen maintains the 21st Century Taxation website and blog (www.21stcenturytaxation.com) as well as websites on tax reform and state tax issues (www.sjsu.edu/people/annette.nellen/).

• Mark Persellin

  Mark B. Persellin, Ph.D., C.P.A., C.F.P.®, is the Ray and Dorothy Berend Professor of Accounting at St. Mary’s University. He earned his B.S. from the University of Arizona, his M.P.A. in taxation from the University of Texas at Austin and his Ph.D. from the University of Houston. Today, Dr. Persellin teaches personal income tax, business income tax and research in federal taxation. Prior to joining St. Mary’s University, Dr. Persellin taught at Florida Atlantic University and Southwest Texas University (Texas State University). He also worked on the tax staff of a Big Four firm. Dr. Persellin's research has been published in numerous academic and professional journals, including The Journal of American Taxation Association, The Accounting Educators’ Journal, The Tax Adviser, The CPA Journal, Journal of Taxation, Corporate Taxation, The Tax Executive, TAXES – The Tax Magazine, Journal of International Taxation and Practical Tax Strategies. In 2003, Dr. Persellin established the St. Mary’s University Volunteer Income Tax Assistance (VITA) site, and he continues to serve as a trainer and reviewer for the site.

• Sharon Lassar

  Sharon Lassar, Ph.D., C.P.A. (Florida), is the John J. Gilbert Professor and director of the School of Accountancy at The University of Denver. Dr. Lassar earned her Ph.D. at the University of Southern California, her M.S.T. at Bentley University and her B.S.B.A. from West Virginia University. Prior to joining the University of Denver, Dr. Lassar was the director of the School of Accounting at Florida International University. She also previously served on the faculties of Florida Atlantic University and the University of Arizona. Dr. Lassar began her career with a Big 4 firm and has served the profession in many ways, most recently as a member of AICPA Council. Dr. Lassar is a past president of the Accounting Programs Leadership Group and past chair of the Colorado Society of C.P.A.s. Dr. Lassar also served on the Accounting Accreditation Task Force of AACSB International whose work resulted in new standards for accreditation--the hallmark of them being fully engaging practitioners in the accreditation process.

• Andrew D. Cuccia

  Andrew D. Cuccia, Ph.D., C.P.A., is the Steed Professor of Accounting at the University of Oklahoma. He is a graduate of Loyola University, New Orleans (B.B.A.) and the University of Florida (Ph.D.). Prior to entering academia, Dr. Cuccia practiced as a C.P.A. at a Big Four accounting firm. Before joining the University of Oklahoma, he served on the faculties at Louisiana State University and the University of Illinois. His research focuses on taxpayer and tax professional judgment and decision making and has been published in several journals, including The Accounting Review, Journal of Accounting Research, The Journal of the American Taxation Association, The Journal of Economic Psychology and Tax Notes. He has taught undergraduate and graduate courses in income tax fundamentals as well as graduate courses in corporate tax, tax policy and tax research. Dr. Cuccia is a past president of the American Taxation Association and is a member of the American Accounting Association and the AICPA.

• Brad Cripe

  Brad Cripe, Ph.D., C.P.A., is a presidential teaching professor and the Donald E. Kieso Endowed Chair of Accountancy at Northern Illinois University. Dr. Cripe earned a B.A. in economics, a B.C.J. and an M.Acc. from New Mexico State University. He also received his Ph.D. from the University of Nebraska. Dr. Cripe worked for KPMG in Texas. Dr. Cripe has taught taxation of business entities and individuals, tax strategy, corporate taxation and advanced issues in taxation to undergraduate and graduate students. In addition to teaching, Dr. Cripe has published in The Accounting Review, Issues in Accounting Education, Journal of Accountancy, Tax Notes and other academic and practitioner journals. His research investigates issues that make a difference in how professionals use (or should use) information at their disposal to make tax compliance decisions and how financial statements are affected by audit quality and recent FASB reporting changes.

• Stay informed with the latest 2025 tax changes and emerging developments. Our up-to-date content provides reliable, detailed revisions reflecting the most current tax legislation for individual taxpayers.

• Access current tax software from Intuit® ProConnect and refine your skills with hands-on practice. Also, enhance your knowledge with interactive C.P.A. review questions from Becker Professional Education®.

• This edition's print and digital materials, including CNOWv2 online tools, work seamlessly to reinforce tax skills. Use them independently or in the classroom to master current tax concepts for individual filing.

• This edition integrates memorable taxation examples throughout, making complex concepts easy to understand. Printed and digital tools enhance the learning experience.

• Memorable learning videos correspond with practical applications to strengthen students' comprehension and ensure they understand how to complete end-of-chapter homework successfully.

• Explore practical tax scenarios at the start and end of each chapter. Big Picture: Tax Solutions for the Real World scenarios examine lives, careers and tax situations facing typical tax filers.

• Numerous proven learning features such as Ethics and Equity features, Global Tax Issues and Decision-Making Problems help readers strengthen professional skills.

• Help students gain hands-on experience with updated end-of-chapter computational exercises so they can apply what they’ve learned and reinforce specific learning objectives in each chapter.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

Cengage Testing, powered by Cognero® for Young/Nellen/Persellin/Lassar/Cuccia/Cripe’s South-Western Federal Taxation 2026: Individual Income Taxes
9798214043982

Cengage Testing, Powered by Cognero® for Young/Nellen/Persellin/Lassar/Cuccia/Cripe’s South-Western Federal Taxation 2026: Individual Income Taxes, Instant Access
9798214043975

Instructor's Companion Website for Young/Nellen/Persellin/Lassar/Cuccia/Cripe’s South-Western Federal Taxation 2026: Individual Income Taxes
9798214043968