Ch05 Solutions

West Federal Taxation 2008: Individual Income Taxes, Professional Version (West's Federal Taxation: Individual Income Taxes)

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: CHAPTER 5 GROSS INCOME: EXCLUSIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P in Question/ Present Prior Problem Topic Edition Edition 1 Inheritance and compensation Unchanged 1 2 Income from gifts and bequests Unchanged 2 3 Gift to employees Unchanged 3 4 Life insurance proceeds versus income in Unchanged 4 respect of a decedent 5 Gift versus compensation New 6 Life insurance: accelerated death benefits New 7 Life insurance: transfer for valuable Unchanged 7 consideration 8 Life insurance: cash surrender value and Unchanged 8 accelerated death benefits 9 Scholarships Unchanged 9 10 Damages Unchanged 10 11 Damages Unchanged 11 12 Damages Unchanged 12 13 Unemployment compensation and workers Unchanged 13 compensation 14 Health Savings Account (HSA) New 15 Salary increase versus health insurance Unchanged 15 premiums 16 Cafeteria plans versus flexible spending plans Unchanged 16 17 Fringe benefits: employee discounts Unchanged 17 18 Alternative compensation options New 19 Qualified employee discounts Unchanged 19 20 Employer provided facilities Unchanged 20 21 Foreign earned income Unchanged 21 22 Taxable versus tax-exempt bonds New 23 Patronage dividends and the tax-benefit rule Unchanged 23 24 Qualified state tuition program Unchanged 24 25 Tax benefit rule versus subsequent income Unchanged 25 payments 26 Income from discharge of indebtedness Unchanged 26 5-1 5-2 2008 Individual Volume/Solutions Manual Status: Q/P in Question/ Present Prior Problem Topic Edition Edition 27 Income from discharge of indebtedness Unchanged 27 *28 Life insurance and inheritance Unchanged 28 29 Life insurance and accident benefits Modified 29 30 Accelerated death benefits Unchanged 30 31 Gifts and fringe benefits and disaster area Unchanged 31 payments 32 Death benefits Unchanged 32 33 Life insurance: use of proceeds Modified 33 34 Scholarship Modified 34 35 Scholarship Unchanged 35 36 Damages Modified 36 37 Damages Unchanged 37 38 Health insurance, medical reimbursement Unchanged 38 39 Fringe benefits Unchanged 39 40 Medical reimbursement plan versus flexible Unchanged 40 benefits plan 41 Long-term care insurance benefits Modified 41 42 Meals and lodging Modified 42 43 Meals and lodging Unchanged 43 *44 Accident and health plans, athletic facilities Unchanged 44 45 Working condition fringe Unchanged 45 *46 Fringe benefits versus taxable compensation Unchanged 46 47 Flexible benefits plan New 48 Fringe benefits Unchanged 48 *49 Foreign earned income Modified 49 50 Tax benefit rule, tax-exempt income Unchanged 50 51 Unrealized gains and losses, stock dividends, Unchanged 51 and dividend reinvestment *52 Tax-exempt bonds versus taxable bonds New 53 Tax-favored educational savings programs Unchanged 53 54 Educational savings bond exclusion Modified 54 55 Qualified state tuition program Unchanged 55 56 Tax benefit rule New 57 Income from discharge of indebtedness Unchanged 57 58 Income from discharge of indebtedness Unchanged 58 *59 Cumulative Modified 59 *60 Cumulative...
View Full Document

This document was uploaded on 05/14/2008.

Page1 / 26

Ch05 Solutions - CHAPTER 5 GROSS INCOME: EXCLUSIONS...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online