sm04 - CHAPTER 4 GROSS INCOME: EXCLUSIONS SOLUTIONS TO...

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Unformatted text preview: CHAPTER 4 GROSS INCOME: EXCLUSIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Improvements by lessee and debt forgiveness Unchanged 1 2 Income from gifts and bequests Unchanged 2 3 Gift to employees New 4 Gift versus compensation New 5 Gift versus compensation Unchanged 5 6 Life insurance: accelerated death benefits New 7 Life insurance: transfer for valuable consideration New 8 Life insurance: cash surrender value Unchanged 8 9 Scholarship and tuition waiver Unchanged 9 10 Damages Unchanged 10 11 Damages Unchanged 11 12 Damages Unchanged 12 13 Workers compensation Unchanged 13 14 Accident and health plan New 15 Fringe benefits New 16 Fringe benefits: no-additional-cost services Unchanged 16 17 Fringe benefits: employee discounts Unchanged 17 18 No-additional-cost service Unchanged 18 19 Qualified employee discounts Modified 19 20 Issue recognition 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 Modified 24 25 Tax benefit rule Unchanged 25 26 Income from discharge of indebtedness Unchanged 26 27 Issue recognition Unchanged 27 4-1 4-2 2002 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 28 Gift, life insurance, inheritance Unchanged 28 29 Life insurance Unchanged 29 30 Accelerated death benefits Unchanged 30 31 Gifts and fringe benefits Unchanged 31 32 Death benefits Modified 32 33 Life insurance Unchanged 33 34 Scholarship Unchanged 34 35 Scholarship Modified 35 36 Damages Unchanged 36 37 Damages Unchanged 37 38 Health insurance, medical reimbursement New 39 Fringe benefits Unchanged 39 40 Long-term care insurance benefits Modified 40 41 Meals and lodging New 42 Meals and lodging Unchanged 42 43 Meals and lodging Unchanged 43 * 44 Accident and health plans, athletic facilities Unchanged 44 45 Cafeteria plan and long-term care insurance Unchanged 45 * 46 Fringe benefits versus taxable compensation New 47 Flexible benefits plan New 48 Fringe benefits Unchanged 48 * 49 Foreign earned income Modified 49 50 Tax benefit rule, tax-exempt income Modified 50 * 51 Stock dividends, tax-benefit rule New 52 Tax-favored educational savings programs Unchanged 52 53 Educational savings bond exclusion Modified 53 54 Qualified state tuition program Unchanged 54 55 Tax benefit rule Unchanged 55 56 Tax benefit rule Unchanged 56 57 Income from discharge of indebtedness Unchanged 57 58 Income from discharge of indebtedness Unchanged 58 * 59 Cumulative Modified 59 * 60 Cumulative Unchanged 60 *The solution to this problem is available on a transparency master. Gross Income: Exclusions 4-3 CHECK FIGURES 28. $3,000....
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This note was uploaded on 03/19/2008 for the course ACCT 4250 taught by Professor Johnson during the Spring '08 term at Kennesaw.

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sm04 - CHAPTER 4 GROSS INCOME: EXCLUSIONS SOLUTIONS TO...

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