7090904-Solutions - CHAPTER 13 PROPERTY TRANSACTIONS:...

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Unformatted text preview: CHAPTER 13 PROPERTY TRANSACTIONS: CAPITAL GAINS AND LOSSES, 1231 AND RECAPTURE PROVISIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Issue ID New 2 Issue ID Unchanged 3 3 Definition of capital assets Unchanged 4 4 Definition of capital assets Unchanged 5 5 Section 1237 treatment Unchanged 6 6 Issue ID Unchanged 7 7 Patents New 8 Lease cancellation New 9 Holding period New 10 Issue ID Unchanged 10 11 Issue ID Unchanged 11 12 Capital loss carryovers New 13 Issue ID Unchanged 12 14 Issue ID Unchanged 13 15 Section 1231: realized versus recognized New 16 Section 1231: business use property condemnation New 17 Issue ID New 18 Section 1231 gain from disposition with 1245 depreciation recapture Unchanged 15 19 Issue ID Unchanged 16 20 Section 1245 recapture and short-term holding period Unchanged 17 21 Section 1245 recapture and nonresidential real estate Unchanged 18 22 Issue ID Unchanged 19 23 Section 1250 and residential real estate Unchanged 20 24 Section 1250 recapture Unchanged 21 25 Recapture and holding period Unchanged 22 13-11 13-2 2004 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 26 Residential rental housing New 27 Unrecaptured 1250 gain Unchanged 23 28 Depreciation recapture and gifts New 29 Depreciation recapture and death New 30 Depreciation recapture for corporation: property distributions Unchanged 24 31 Related party transactions Unchanged 25 32 Capital assets Modified 26 33 Capital assets Modified 27 34 Capital assets Unchanged 28 * 35 Section 1237 treatment Unchanged 29 36 Nonbusiness bad debt and worthless securities, 1244 stock Unchanged 30 37 Options New 38 Patents New 39 Franchises Unchanged 34 40 Lease cancellation Unchanged 35 41 Holding period Unchanged 36 * 42 Net capital gain Unchanged 38 * 43 Net capital loss Unchanged 39 44 Net capital gain and alternative tax Unchanged 40 45 Corporate net capital loss and carryover Unchanged 41 46 Covenant not to compete versus goodwill Unchanged 42 * 47 Section 1231 computation and farm assets Modified 43 48 Section 1231 nonpersonal use property casualty Unchanged 44 * 49 Section 1231 lookback Modified 45 50 Section 1231 gain and loss planning Unchanged 46 * 51 Section 1245 recapture Unchanged 47 * 52 Section 1245 recapture and 1231 lookback Unchanged 48 * 53 Section 1231 gain, 1250 recapture, and unrecaptured 1250 gain Unchanged 49 * 54 Section 1231 gain and 1250 recapture Modified 50 * 55 Comprehensive 1231, 1245, and 1250 Modified 51 * 56 Sections 1245 and 1250 recapture, 1231 gain, and unrecaptured 1250 gain Modified 52 57 Recapture and gifts Unchanged 53 58 Section 1245 and inheritances New 59 Section 1245 and property distributions Unchanged 56 * 60 Sections 1245 and 1231 gain and sales price allocation Unchanged 57 * 61 Cumulative Unchanged 58 * 62 Cumulative Modified 59 *The solution to this problem is available on a transparency master. *The solution to this problem is available on a transparency master....
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This note was uploaded on 03/08/2010 for the course ACCT 3500 taught by Professor Smith during the Spring '10 term at Kwantlen Polytechnic University.

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7090904-Solutions - CHAPTER 13 PROPERTY TRANSACTIONS:...

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