Chapter4 - Path:...

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Path: K:/TL-WFT-05-0802/Application/TL-WFT-05-0802-004_V1-SM.3d Date: 13th April 2006 Time: 15:49 User ID: 40223 CHAPTER 4 GROSS INCOME: CONCEPTS AND INCLUSIONS SOLUTIONS TO PROBLEM MATERIALS Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 1 Conservatism: financial accounting versus taxation Unchanged 1 2 Economic versus taxable income New 3 Gross income Unchanged 3 4 Realization rationale New 5 Recovery of capital Unchanged 5 6 Constructive receipt and agent Unchanged 6 7 Cash method Unchanged 7 8 Gross income: timing Unchanged 8 9 Original issue discount Unchanged 9 10 Gross income: timing Unchanged 10 11 Accrual basis and refunds Unchanged 11 12 Who is the taxpayer? Unchanged 12 13 Who is the taxpayer? New 14 Who is the taxpayer? Unchanged 14 15 Community property Unchanged 15 16 Alimony recapture Unchanged 16 17 Transfer of property: divorce Unchanged 17 18 Alimony and property settlement Unchanged 18 19 Alimony and property settlement Unchanged 19 20 Below-market loans New 21 Below-market loans New 22 Below-market loans Unchanged 22 23 Annuity Unchanged 23 24 Group-term life insurance Unchanged 24 25 Social Security benefits New 26 Economic versus taxable income New 27 Cash method Unchanged 27 * 28 Gross income: investments Unchanged 28 29 Gross income Unchanged 29 30 Gross income Unchanged 30 * 31 Accrual basis versus cash basis Unchanged 31 * 32 Accrual basis versus cash basis Unchanged 32 4-1
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Path: K:/TL-WFT-05-0802/Application/TL-WFT-05-0802-004_V1-SM.3d Date: 13th April 2006 Time: 15:49 User ID: 40223 Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 33 Accrual basis versus cash basis Unchanged 33 34 Accrual method and disputed income Unchanged 34 35 Constructive receipt New * 36 Original issue discount and savings bonds Unchanged 36 37 Advance payments Unchanged 37 38 Constructive receipt Unchanged 38 39 Prepaid rent and deposits Unchanged 39 40 Who is the taxpayer? Unchanged 40 41 Constructive receipt and agent Unchanged 41 42 Partnerships New * 43 Dividend income; stock versus bond investment Modified 43 * 44 Community property Unchanged 44 45 Alimony, child support, and property transfer Unchanged 45 46 Alimony and alimony recapture Unchanged 46 47 Alimony and property settlement Unchanged 47 48 Below-market loans Unchanged 48 * 49 Below-market loans Unchanged 49 50 Below-market loans Modified 50 51 Below-market loans Unchanged 51 * 52 Annuity Modified 52 53 Prizes and awards Unchanged 53 * 54 Group term life insurance Unchanged 54 * 55 Unemployment compensation Modified 55 * 56 Social Security benefits Unchanged 56 * 57 Social Security benefits Modified 57 58 Miscellaneous Unchanged 58 * 59 Cumulative Modified 59 * 60 Cumulative Modified 60 Research Problem 1 Gross income: prepaid income Unchanged 1 2 Realization Unchanged 2 3 Imputed interest Unchanged 3 4 Gross income New 5 Internet activity Unchanged 5 6 Internet activity Unchanged 6 *The solution to this problem is available on a transparency master.
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This homework help was uploaded on 04/17/2008 for the course ACC 1011 taught by Professor Macke during the Spring '07 term at University of Advancing Technology.

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Chapter4 - Path:...

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