Comp SM_Ch03 - CHAPTER 3 TAX DETERMINATION; PERSONAL AND...

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CHAPTER 3 TAX DETERMINATION; PERSONAL AND DEPENDENCY EXEMPTIONS; AN OVERVIEW OF PROPERTY TRANSACTIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Tax formula New 2 Transactions with no income tax effect New 3 Gross income: exclusions Unchanged 3 4 Gross income: inclusions Unchanged 4 5 Income tax: international considerations Unchanged 5 6 Effect of AGI on some deductions from New 7 Issue ID Unchanged 7 8 Dependents and the determination of their standard deduction and personal exemptions New 9 Dependency exemption: treatment of scholarships for the support and gross income tests Unchanged 9 10 Dependency exemption: multiple support agreement Unchanged 10 11 Dependency exemption: gross income and relationship tests Unchanged 11 12 Issue ID Unchanged 12 13 Issue ID Unchanged 13 14 Stealth taxes Unchanged 14 15 Income tax rates: background and instability New 16 Characteristics of the kiddie tax Unchanged 15 17 Filing requirement Modified 16 18 Marriage penalty New 19 Surviving spouse status Unchanged 19 20 Filing status Unchanged 20 21 Issue ID Unchanged 21 22 Treatment of capital gains Unchanged 22 23 Treatment of capital gains New 24 Capital loss tax treatment Unchanged 24 3-1
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3-2 2005 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 25 Capital transactions: treatment of collectibles Unchanged 25 26 Issue ID Unchanged 26 27 Multiple support agreement: planning for Unchanged 27 * 28 Taxable income calculation New * 29 Taxable income calculation Unchanged 29 * 30 Taxable income calculation Unchanged 30 31 Standard deduction of dependent Modified 31 32 Personal and dependency exemptions New 33 Personal and dependency exemptions Unchanged 33 34 Personal and dependency exemptions Modified 34 * 35 Exemption deduction determination: phaseout New * 36 Determine taxable income Unchanged 36 * 37 Unearned income of child under age 14 Modified 37 38 Dependency exemptions: joint return test Unchanged 38 39 Dependent’s tax liability: unearned income Unchanged 39 * 40 Tax liability calculations New * 41 Taxable income calculation Unchanged 41 * 42 Child’s income taxed at parents’ rate Unchanged 42 * 43 Child’s income taxed at parents’ rate Unchanged 43 * 44 Marriage penalty New 45 Filing requirements Modified 45 46 Filing requirements Unchanged 46 47 Filing status determination Unchanged 47 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 New * 52 Capital transactions: determination of tax New 53 Tax planning: alternating years for itemized deductions with standard deduction New * 54 Cumulative New * 55 Cumulative Unchanged 55 Research Problem 1 Divorced parents with equal custody of children; no waiver New 2 Joint return and innocent spouse relief Unchanged 3 Internet activity Unchanged
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This note was uploaded on 03/14/2010 for the course ACC 11101 taught by Professor Sun during the Spring '10 term at Abraham Baldwin Agricultural College.

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Comp SM_Ch03 - CHAPTER 3 TAX DETERMINATION; PERSONAL AND...

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