TaxAccSol_Chapter 11

TaxAccSol_Chapter 11 - CHAPTER 11 PASSIVE ACTIVITY LOSSES...

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CHAPTER 11 PASSIVE ACTIVITY LOSSES SOLUTIONS TO PROBLEM MATERIALS Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 1 Purpose and general impact of at-risk limits and passive loss rules New 2 At-risk amount Modified 2 3 Changes in at-risk amount Unchanged 3 4 At-risk and passive loss limits Unchanged 4 5 Descriptions of active, portfolio, and passive income Unchanged 5 6 Preference as to active or passive classification Unchanged 6 7 Preference as to active or passive classification Unchanged 7 8 Disposition of passive activity New 9 Treatment of suspended losses and credits on disposition of an activity Unchanged 9 10 Taxpayers subject to passive loss rules Unchanged 10 11 Passive loss of a personal service corporation Unchanged 11 12 Corporate passive activity loss deduction Unchanged 12 13 Nature of passive activity Unchanged 13 14 IRS regrouping of passive activities New 15 Material participation significance Unchanged 15 16 The 500-hour standard for material participation Unchanged 16 17 Material participation determination Unchanged 17 18 Planning for material participation status Unchanged 18 19 At-risk and passive loss limits; material participation status Unchanged 19 20 Work that qualifies for material participation standard Unchanged 20 21 Application of passive loss rules: hobby versus trade or business Unchanged 21 22 Limited partnership interest and material participation standard Unchanged 22 11-1
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Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 23 Significant personal services New 24 Passive activity definition Unchanged 24 25 Rental business: active versus passive Unchanged 25 26 Real estate professional classification Unchanged 26 27 Classification of businesses and application of at-risk and passive activity loss rules Unchanged 27 28 Application of at-risk and passive loss rules New 29 Determination of passive activity status Unchanged 29 30 Real estate activity exceptions Unchanged 30 31 Differences between material and active participation Unchanged 31 32 Treatment of rental property Unchanged 32 33 At-risk rules Unchanged 33 34 At-risk rules Unchanged 34 35 At-risk rules Unchanged 35 *36 Passive loss offsets passive income Unchanged 36 37 Treatment of suspended losses Unchanged 37 38 Passive activity loss rules: general application Unchanged 38 *39 Passive activity loss rules: general application Unchanged 39 40 Passive activity loss rules: general application Unchanged 40 *41 Sale of passive activity and suspended losses Unchanged 41 42 Sale of passive activity and suspended losses Modified 42 *43 Sale of passive activity and suspended losses Unchanged 43 44 Passive losses of personal service corporation Unchanged 44 45 Passive, active, portfolio income of closely held corporation New 46 Interaction of at-risk and passive loss rules Unchanged 46 *47 Character of property: held as investment property or rental property Unchanged 47 48 Interaction of at-risk and passive loss rules Unchanged
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This note was uploaded on 04/23/2008 for the course ACC 343 taught by Professor Dr.purcell during the Spring '08 term at Creighton.

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TaxAccSol_Chapter 11 - CHAPTER 11 PASSIVE ACTIVITY LOSSES...

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