On behalf of LexisNexis and the Graduate Tax Series Board of Editors (Ellen Aprill (Loyola-L.A.), Elliott Manning (Miami), Philip Postlewaite (Northwestern) and David Richardson (Florida)), I am delighted to announce the publication of Federal Taxation of Property Transactions (2012), by Elliott Manning (Miami) and David Cameron (Northwestern).

The Graduate Tax Series is the first and only series of course materials designed for use in tax LL.M. programs. Like all books in the Series, Federal Taxation of Property Transactions was designed from the ground-up with the needs of graduate tax faculty and students in mind:

• More focus on Internal Revenue Code and regulations, less on case law
• Analysis of complex, practice-oriented problems of increasing sophistication
• Teacher’s manual with solutions to problems and other guidance
• On-line access to the comprehensive and current Code and regulations, designed to complement the book

Two significant complications affect the taxation of property
transactions. The first complication is the special treatment of capital
gains and losses. The second complication arises from the time value of
money. This book aims to provide students with an appreciation for
these two significant complexities through the descriptive materials and
problems presented.

Chapter 1 introduces the concepts of basis and realization that are
fundamental to the taxation of all transactions involving property.
Chapter 2 follows with the effects of taxing gains and losses from
capital assets differently from ordinary gains and losses. Chapter 3
deals with liabilities, which are essentially the opposite of assets or
property, so that they can be considered negative property. Chapter 4
covers the rules applicable to the capitalization of costs incurred in
the creation or acquisition of property and the recovery of those costs
through a variety of expensing, amortization, and depreciation
provisions. Chapter 5 covers non-recognition transactions (other than
transfers involving partnerships, corporations or trusts) in which gain
or loss is not recognized on disposition but is deferred through the
mechanism of substituted basis. Chapter 6 deals with deferred
compensation issues and other special problems arising in executive
compensation arrangement using employer stock or stock options that
reflect the lure of capital gain treatment. Chapter 7 covers the
complexities that arise from the cliché that property is a bundle of
rights, particularly when the ownership and long-term right to
possession is divided under a lease or similar arrangement. Finally,
Chapter 8 covers a number of special provisions that affect the
deductibility of losses, including the wash sales rules, limitations on
related party transactions, the at-risk and passive loss rules, and
losses arising in certain leasing transactions.

Ten other books in the Series also are available for adoption:

• Civil Tax Procedure (2d ed. 2007) & 2011 Supp.), by David Richardson (Florida), Jerome Borison (Denver) & Steve Johnson (Florida State)
• Corporate Taxation (2012), by Charlotte Crane (Northwestern) & Linda Beale  (Wayne State)
• Employee Benefits Law: Qualification and ERISA Requirements (2d ed. 2012), by Kathryn Kennedy (John Marshall) & Paul Shultz
• Estate and Gift Taxation (2011), by Robert Danforth (Washington & Lee) & Brant Hellwig (South Carolina)
• Federal Tax Accounting (2d ed. 2011), by Michael Lang (Chapman), Elliott Manning (Miami) & Mona Hymel (Arizona)
• Partnership Taxation (2d ed. 2008), by Richard Lipton (Baker & McKenzie, Chicago), Paul Carman (Chapman & Cutler, Chicago), Charles Fassler (Greenebaum, Doll & McDonald, Louisville) & Walter Schwidetzky (Baltimore)
• Regulation of Tax Practice (2010), by Linda Galler (Hofstra) & Michael Lang (Chapman)
• Tax Crimes (2008), by Steve Johnson (Florida State), Scott Schumacher (Washington), Larry Campagna (Adjunct Professor, Houston) & John Townsend (Adjunct Professor, Houston)
• Taxation and Business Planning for Real Estate Transactions (2012), by Bradley Borden (Brooklyn)
• United States International Taxation (2d ed. 2011), by Allison Christians (Wisconsin), Samuel Donaldson (Washington) &  Philip Postlewaite (Northwestern)

Other information:

• For more details about the Graduate Tax Series, see here. 
• Click on these links to purchase a copy of Civil Tax Procedure, Corporate Taxation, Employee Benefits Law, Estate and Gift Taxation, Federal Tax Accounting, Federal Taxation of Property Transactions, Partnership Taxation, Regulation of Tax Practice, Tax Crimes, Taxation and Business Planning for Real Estate Transactions, and United States International Taxation.  Faculty can request a complimentary review copy by emailing here (in the body of your email, note the title of the book you are requesting and your contact information).
• Email me if you would like more information about the Series or if you would like to submit a book proposal.