Advanced Individual Tax Topics Utilizing Romney’s Tax Return

• In Event: Teaching Resources: Effective Learning Strategies

Abstract

This series of six assignments uses Romney’s 2011 federal individual income tax return to explore advanced individual tax issues. The assignments provide insight into the taxation of high-wealth individuals and require students to understand complex reporting and measurement issues within individual tax returns. The students also perform research, think strategically, and explore international taxation. The topics studied are flow-through entities within individual tax returns; investment interest expense; noncash charitable contributions; new taxes for 2013 including the additional 0.9% medicare tax, the 3.8% net investment income tax, and the increase to 20% for capital gains tax; alternative minimum tax; and foreign financial assets reporting.

Author

• Jane R Livingstone, Western Carolina University