TROY UNIVERSITY
MASTER SYLLABUS
SORRELL COLLEGE OF BUSINESS
SCHOOL OF ACCOUNTANCY
TAX 6686
Estate and Gift Taxation
Prerequisite or Corequisite
TAX 6684 Federal Tax Research
Description
This course covers the taxation of estates and gifts and provides an introduction to the
income taxation of estates and trusts. This course will have a tax planning focus.
Objectives
On completion of the course, the student should be able to:
1. Explain gift splitting
2. Explain the annual gift tax exclusion
3. Explain the gift tax exclusion for medical and educational purposes
4. Explain the gift tax exclusion for spousal transfers
5. Explain the gift tax charitable exclusion
6. Calculate the taxable gifts for the year
7. Calculate the gift tax liability
8. Calculate the gross estate
9. Calculate the adjusted gross estate
10. Calculate the taxable estate
11. Calculate the estate tax liability
12. Explain the difference between the gross estate and the probate estate
13. Explain the generation-skipping transfer tax
14. Describe special valuation rules
15. Explain estate or trust accounting, income, distributable net income, and taxable
income
16. Calculate the income tax liability of an estate or trust
17. Prepare sample tax research memoranda regarding estate and gift tax issues
18. Write a research paper on an estate and gift topic suitable for submission to a high
quality professional tax journal
Master Syllabi are developed by the senior faculty in each business discipline. This Master Syllabus must be used as the basis for
developing the instructor syllabus for this course, which must also comply with the content specifications outlined in the Troy
University Faculty Handbook.
The objectives included on this Master Syllabus must be included among the objectives on the instructor’s syllabus, which may
expand upon the same as the instructor sees fit. The statement of purpose seeks to position the course properly within the curriculum
and should be consulted by faculty as a source of advisement guidance. Specific choice of text and other details are further subject to
Program Coordinator guidance.
1 August 2005
Master Syllabus: TAX 6686
Purpose
To provide students with an in-depth understanding of estate and gift taxation and an
introduction to the income taxation of estates and trusts.
Approved Text
WG&L Federal Estate and Gift Taxation by Richard B. Stephens, Guy B. Maxfield,
Stephen A. Lind, Dennis A. Calfee, and Robert B. Smith. Warren, Gorham & Lamont.
ISBN 0-7913-4752-4
Supplements (optional)
James E. Smith, Internal Revenue Code of 1986 and Treasury Regulations: Annotated
and Selected (current edition). Mason, OH: South-Western Cengage Learning.
CPA Exam Review Manual: Regulation
Course Outline
Part I:
Overview
Part II:
The Estate Tax
Part III:
The Gift Tax
Part IV:
Generation-Skipping Transfers
Part V:
Special Valuation Rules
Part VI:
Introduction to the Income Taxation of Estates and Trusts
Troy University Faculty Handbook (2010): Section 3.9.2.8 [extract] — essential elements of the syllabus (somewhat modified for
space):
1. Course title
2. Course number
+ section
3. Term
4. Instructor
5. Prerequisites
6. Office hours
7. Class days, times
8. Classroom
14. Grading
location
methods,
9. Office location +
criterion
e-mail address
weights, make10. Office telephone
up policy, mid11. Course
term grade
description,
reports
objectives
15. Procedure,
12. Text(s)
course
13. Other materials
requirements
16. General supports
(computer
works, writing
center)
17. Daily
assignments,
holidays,
add/drop & open
dates, dead day,
final exam
18. ADA statement 23. Cheating policy
19. Electronic
24. Specialization
device statement
requirements
20. Additional
(certification,
services,
licensure,
statements
teacher
21. Absence policy
competencies)
22. Incomplete-work
policy