TaxAccSol_Chapter 13

TaxAccSol_Chapter 13 - CHAPTER 13 PROPERTY TRANSACTIONS:...

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CHAPTER 13 PROPERTY TRANSACTIONS: DETERMINATION OF GAIN OR LOSS, BASIS CONSIDERATIONS, AND NONTAXABLE EXCHANGES SOLUTIONS TO PROBLEM MATERIALS Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 1 Sale or other disposition Unchanged 1 2 Sale or other disposition versus mere change in value Unchanged 2 3 Amount realized: determination of Modified 3 4 Amount realized and basis considerations Unchanged 4 5 Basis and effect of liability Unchanged 5 6 Basis: note versus cash Unchanged 6 7 Amount realized and basis considerations Unchanged 7 8 Basis, capital additions, and capital recoveries New 9 Basis and cost recovery: effect of depreciation Modified 8 10 Corporate distributions Unchanged 9 11 Amortization of bond premium Unchanged 10 12 Sale of personal use assets: gain versus loss Unchanged 11 13 Sale of personal use assets: gain versus loss Unchanged 12 14 Recovery of capital and life insurance proceeds Unchanged 13 15 Lump-sum purchase, basis, and goodwill Unchanged 15 16 Gift basis: gain basis and loss basis Unchanged 16 17 Gift versus sale of asset and gift of proceeds; inheritance versus sale of asset and bequest of proceeds New 18 Gift basis: gain basis and loss basis New 19 Property transferred by inheritance versus sale before death Unchanged 19 20 Deathbed gifts: basis of Unchanged 20 21 Basis for inherited property: community property versus common law state Unchanged 21 22 Wash sale Modified 22 23 Property converted from personal use New 24 Nontaxable exchange: requirements Modified 23 13-1
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Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 25 Personal use and productive use property Modified 23 26 Like-kind exchanges: mandatory New 27 Like-kind exchanges: qualification New 28 Like-kind exchanges: partnership interests Unchanged 27 29 Effect of boot on recognition New 30 Like-kind exchanges: summary New 31 Holding period in a like-kind exchange Unchanged 29 32 Treatment of mortgage as boot Unchanged 30 33 Involuntary conversion: amount of reinvestment and losses New 34 Involuntary conversion: definition New 35 Involuntary conversion: replacement property Unchanged 33 36 Involuntary conversion: qualification requirements Modified 34 37 Involuntary conversion: replacement time period Unchanged 35 38 Involuntary conversion: condemnation Unchanged 36 39 Involuntary conversion: condemnation Unchanged 37 40 Involuntary conversion: holding period New 41 Sale of residence: qualification Unchanged 38 42 Sale of residence: qualification requirements and frequency of exclusion New 43 Sale of residence: partial exclusion Unchanged 41 44 Specialized small business investment company Modified 42 *45 Amount realized and basis determination Unchanged 43 *46 Amount realized and basis determination Unchanged 44 47 Amount realized and effect of various basis adjustments New *48 Personal use asset sale, exchange, or casualty Modified 46 *49 Amortization of bond premium: tax effect of New *50 Realization versus recognition, sale of personal use assets New *51 Recognition and condemnation Unchanged 48 52 Bargain purchase by employee
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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 13 - CHAPTER 13 PROPERTY TRANSACTIONS:...

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