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0324660529_130657 - CHAPTER 10 DEDUCTIONS AND LOSSES...

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CHAPTER 10 DEDUCTIONS AND LOSSES: CERTAIN ITEMIZED DEDUCTIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Effect of changes in AGI on medical expense New deduction 2 Definition of a medical expense New 3 Cosmetic surgery as a medical expense Unchanged 3 4 Nursing home expenses New 5 Timing of medical insurance reimbursement Unchanged 5 6 Medical expense qualifications Unchanged 6 7 Self-employed versus employee medical Unchanged 7 insurance 8 Medical and casualty loss reimbursement Unchanged 8 9 Health savings account (HSA) Unchanged 9 10 Free medical care; medical expenses and Unchanged 10 divorce 11 Apportionment of real estate tax Unchanged 11 12 Property tax rebate and subsequent return New 13 Mortgage interest expense Unchanged 12 14 Home equity loan Unchanged 13 15 When “points” are deductible Unchanged 14 16 Deduction of interest on home equity loans Unchanged 15 17 Contribution to an individual and church Unchanged 16 18 Value received for contribution New 19 Charitable contribution: benefit received Unchanged 18 20 Contribution of services New 21 Charitable contribution: various Unchanged 20 22 Timing of contribution Unchanged 21 23 Charitable contribution: reduced deduction Unchanged 23 election 10-1
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10-2 2009 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition *24 Medical expense deduction and reimbursement New *25 Medical expenses: nursing home New 26 Capital expenditures as medical expense deduction Unchanged 26 27 Self-employed health insurance Unchanged 27 *28 Medical expense deduction: taxpayer and Unchanged 28 dependents 29 Medical expenses: dependent and capital Unchanged 29 expenditures 30 Health savings accounts Unchanged 30 31 Apportionment of real estate taxes: effect on basis New 32 State income tax deduction and refund Unchanged 32 *33 Home equity loan: calculation of interest Modified 35 expense deduction 34 Related party loans: interest deduction and Unchanged 36 income inclusion 35 Charitable contribution deduction: exception Unchanged 37 to tangible-benefit-received rule 36 Stock donation: value of contribution Modified 38 37 Charitable contribution: reduced deduction Unchanged 39 election 38 Application of percentage limitations to contribution Unchanged 40 of long-term capital gain property 39 Charitable contribution: reduced deduction New election 40 Tangible benefit derived, year of charitable Unchanged 42 contribution deduction 41 Choice of property for contribution Unchanged 43 *42 Itemized deductions: joint vs. separate returns Modified 44 and overall limit on itemized deductions *43 Overall limitation on certain itemized deductions New *44 Overall limitation on certain itemized deductions Unchanged 46 *45 Overall limitation on certain itemized deductions Unchanged 47 *46 Itemized deduction limitation Unchanged 48 *47 Cumulative Modified 49 *48 Cumulative Unchanged 50 Research Problem 1 Interest deduction Unchanged 1 2 Medical expense deduction: capital expenditure New 3 Internet activity Unchanged 3 *The solution to this problem is available on a transparency master.
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