The "holdings" and facts in this hornbook are wrong. Cases such as Harris and Clark contain horrible inaccuracies. Hope this helps.

Apparently the editor of this masterpiece is blind as a pig. My professor (LLM N.Y.U) suggested nutshells, etc., but, as her eyes narrowed, clearly stated, "Do not use the hornbook. It is wrong." She then stated, "It is just wrong." Always skeptical, I decided to check for myself. I reached the same conclusion after twenty minutes of reading. The facts (monetary amounts) in Clark are wrong. The "holding" in Harris is totally irrelevant, and the "holding" in Glenshaw Glass is downright laughable ... and wrong. Hope this helps.

My students have generally found this book helpful. The diagrams are wonderful and often help people visualize very complex tax transactions. I also think the book does an excellent job of explaining very difficult material. Other reveiws have indicated that there are erros in this book. It does appear that there is a typo in the Clark case, but I have not noticed more than the usual number of typos in this book. In addition, contrary to the statements of other reviewers, I think the discussion of both Glenshaw Glass (I am not sure what is laughable about the book's presentation of the holding in the case) and Harris are on target.

My advice is buy the book if you want some added help with Federal Income Tax, but use it as a reference, not as a bible. Also realize that Tax Professors often disagree about tax law, and about the merits of various cases, that is what makes law fun.