Curriculum Guide · Courses
Advanced Topics in the Taxation of Debt Instruments and Other Financial Transactions
Professors Garlock, Gibian, and M. Shulman
LL.M Course 953 (cross-listed) | 3 credit hours
This course will consist of two parts. The first part will present an in-depth analysis of the federal income taxation of debt instruments, with a focus on computational issues and techniques. For this part, students are required to bring a laptop to class with Microsoft Excel (or comparable spreadsheet program) installed. Topics covered in this part will include: basic interest and original issue discount rules; market discount and premium; convertibles, exchangeables and investment units; coupon stripping mortgage-backed securities; variable rate and contingent debt instruments; high-yield discount obligations; and foreign currency denominated debt instruments. During this part of the course, there will be several required homework assignments.
Prerequisite: (1) Basic Taxation of Debt Instruments Course or solid background in the subject matter. Strongly Recommended: basic familiarity with spreadsheet program; and ability to deal in depth with quantitative issues.