Ch03 HW solutions

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

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CHAPTER 3 TAX DETERMINATION; PERSONAL AND DEPENDENCY EXEMPTIONS; AN OVERVIEW OF PROPERTY TRANSACTIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P in Question/ Present Prior Problem Topic Edition Edition 1 Tax formula Modified 1 2 Transactions with various income tax effects New 3 Gross income: inclusions New 4 Gross income: exclusions New 5 Double taxation of income earned abroad by Unchanged 5 U.S. taxpayer 6 Effect of AGI on some deductions from Unchanged 6 7 Conflict in claiming additional standard Unchanged 7 deduction and itemizing 8 Dependents and the determination of their Unchanged 8 standard deduction and personal exemptions 9 Personal exemption: claiming spouse on a New separate return 10 Dependency exemption: children as qualifying New child and as qualifying relative 11 Qualifying child: tie-breaker rules New 12 Dependency exemption: ex-spouse and New relationship test 13 Multiple support agreement: choice of eligible Unchanged 14 taxpayers 14 Dependency exemption: exceptions to the Unchanged 13 citizenship or residency test 15 Tax rate tables versus tax rate schedules Unchanged 15 16 Characteristics of the kiddie tax Unchanged 16 17 Filing requirement Unchanged 17 18 Surviving spouse status Unchanged 18 19 Head of household filing status Unchanged 19 20 Filing status Unchanged 20 21 Abandoned spouse filing status Unchanged 21 22 Treatment of capital gains Unchanged 22 23 Treatment of capital gains Unchanged 23 3-1
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3-2 2008 Individual Volume/Solutions Manual Status: Q/P in Question/ Present Prior Problem Topic Edition Edition 24 Capital loss tax treatment Unchanged 24 25 Capital transactions: treatment of collectibles Unchanged 25 26 Gross income test for married dependents: Unchanged 26 community property ramifications 27 Multiple support agreement: planning for Unchanged 27 *28 Taxable income calculation Modified 28 *29 Taxable income calculation New *30 Taxable income calculation Unchanged 30 31 Standard deduction of dependent New 32 Qualifying child versus qualifying relative categories Modified 32 33 Personal and dependency exemptions Unchanged 33 34 Personal and dependency exemptions Unchanged 34 35 Personal and dependency exemptions Modified 35 36 Qualifying child and tie-breaker rule Unchanged 36 37 Personal and dependency exemptions Modified 37 38 Multiple support agreement: eligible taxpayers Unchanged 38 *39 Exemption deduction determination: phaseout New *40 Unearned income of child under age 18 New 41 Dependency exemptions: joint return test Unchanged 40 *42 Tax liability calculations New *43 Child’s income taxed at parents’ rate Unchanged 43 *44 Child’s income taxed at parents’ rate Unchanged 44 45 Filing requirements Modified 45 46 Filing requirements Unchanged 46 47 Filing status determination New 48 Filing status determination Unchanged 48 49 Filing status determination Unchanged 49 50 Filing status determination; dependency exemptions Unchanged 50 51 Capital transactions: determination of tax Unchanged 51 52 Capital transactions: determination of tax
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Ch03 HW solutions - CHAPTER 3 TAX DETERMINATION PERSONAL...

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