Skip to main content

National College Credit Recommendation Service

Board of Regents  |  University of the State of New York

LawShelf Educational Media | Evaluated Learning Experience

Basics of Federal Income Taxation (TAX-101)


Various (self-study, self-paced).

Various; distance learning format.

June 2021 - Present. 

Instructional delivery format: 
Online/distance learning
Learner Outcomes: 

Upon successful completion of the course, students will be able to: describe how income is calculated and taxed on the federal level; provide examples of “fringe benefits” that are taxable as additional income to an employee; distinguish between property transactions that are long- and short-term capital transactions and those transactions that would constitute ordinary income if gain were recognized;  describe the difference between standard deductions and itemized deductions and apply the rules pertaining to each; describe the purpose and impact of the Tax Cuts and Jobs Act; apply the alternative minimum tax rules.


This course provides an overview of how income is calculated and taxed on the federal level. It surveys income determinations, including what would be considered income even though it is not in one’s paycheck. Also covered are tax credits, deductions and taxation of business entities.

Credit recommendation: 

In the lower division baccalaureate / associate degree category, 3 semester hours in Accounting or Federal Income Taxation (6/21).