Continuation of federal income tax principles with focus on business entities. Consideration of special treatment received by various business entities, including sole proprietorships, partnerships, corporations estates and trusts. Major topics covered are business income, deductions, losses and loss limitations, property transactions and comparative forms of doing business. Prerequisite(s): ACCT 3130 with a grade of C or better, Admission to the B.S.B.A. program or admission to the graduate school. Fall, Spring.