Describe the rules for determining basis when property is acquired by purchase, exchange, gift, or inheritance.

Explain the rules with respect to like-kind exchanges of business or investment property.

Explain the rules with respect to nontaxable exchanges of insurance or annuity contracts.

Explain the rules for exclusion of gain when a principal residence is sold.

Describe the wash sale rules.

Chapter 14 - Overview

Explain what a capital asset is, and identify items that are not treated as capital assets.

Describe the special rule for taxation on the sale or exchange of depreciable or real property used in a trade or business.

Summarize the relationship between an asset's classification and its tax treatment for a sale or exchange.

Chapter 10 - Overview