South-Western Federal Taxation 2026,
29th Edition

Part I: THE WORLD OF TAXATION.
1. Introduction to Taxation.
2. Working with the Tax Law.
3. Taxes in the Financial Statements.
Part II: STRUCTURE OF THE FEDERAL INCOME TAX.
4. Gross Income.
5. Business Deductions.
6. Losses and Loss Limitations.
Part III: PROPERTY TRANSACTIONS.
7. Property Transactions: Basis, Gain and Loss, and Nontaxable Exchanges.
8. Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions.
Part IV: TAXATION OF INDIVIDUALS.
9. Individuals as Taxpayers.
10. Individuals: Income, Deductions, and Credits.
11. Individuals as Employees and Proprietors.
Part V: BUSINESS ENTITIES.
12. Corporations: Organization, Capital Structure, and Operating Rules.
13. Corporations: Earnings & Profits and Distributions.
14. Partnerships and Limited Liability Entities.
15. S Corporations.
Part VI: CORPORATIONS.
16. Multijurisdictional Taxation.
17. Business Tax Credits and the Alternative Minimum Tax.
18. Comparative Forms of Doing Business.
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.
Index.

• 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/).

• 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.

• 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.

• 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.

• 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 business 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.

• This edition's unique presentation integrates memorable, clear taxation examples throughout, making it easy for students to read and quickly understand even complex taxation concepts.

• 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.

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