CH03 - CHAPTER 3 GROSS INCOME CONCEPTS AND INCLUSIONS SOLUTIONS TO PROBLEM MATERIALS Question Problem 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

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CHAPTER 3 GROSS INCOME: CONCEPTS AND INCLUSIONS SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Examples of gross income items in the Form 1040 instructions Unchanged 1 2 Economic versus taxable income Modified 2 3 Issue ID Unchanged 3 4 Realization rationale New 5 Recovery of capital Unchanged 5 6 Constructive receipt and agent New 7 Cash method Unchanged 7 8 Issue ID New 9 Original issue discount New 10 Original issue discount Unchanged 10 11 Accrual basis and prepaid income New 12 Who is the taxpayer? Unchanged 12 13 Who is the taxpayer? Unchanged 13 14 Who is the taxpayer? Modified 14 15 Who is the taxpayer? Unchanged 15 16 Community property Unchanged 16 17 Transfer of property: divorce Unchanged 17 18 Issue ID Unchanged 18 19 Alimony and property settlement Unchanged 19 20 Below-market loans Unchanged 20 21 Below-market loans Unchanged 21 22 Issue ID Unchanged 22 23 Annuity Unchanged 23 24 Group-term life insurance Unchanged 24 25 Social Security benefits Unchanged 25 26 Economic versus taxable income Unchanged 26 27 Issue ID Unchanged 27 3-1
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3-2 2004 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 28 Gross income: investments Modified 28 29 Gross income New 30 Gross income Unchanged 30 * 31 Accrual basis versus cash basis Unchanged 31 * 32 Accrual basis versus cash basis Modified 32 33 Accrual basis versus cash basis Unchanged 33 34 Accrual method and disputed income Unchanged 34 35 Constructive receipt Unchanged 35 * 36 Original issue discount and savings bonds Modified 36 37 Advance payments Unchanged 37 38 Constructive receipt Unchanged 38 39 Prepaid rent and deposits Unchanged 39 40 Who is the taxpayer? New 41 Constructive receipt and agent Unchanged 41 42 Partnerships Unchanged 42 * 43 Community property Unchanged 43 * 44 Community property Unchanged 44 45 Alimony, child support, and property transfer Unchanged 45 * 46 Alimony and alimony recapture Unchanged 46 47 Alimony and property settlement Unchanged 47 48 Below-market loans Unchanged 48 * 49 Below-market loans Unchanged 49 50 Below-market loans Unchanged 50 51 Below-market loans Unchanged 51 * 52 Annuity Unchanged 52 53 Prizes and awards Unchanged 53 * 54 Group term life insurance Unchanged 54 * 55 Unemployment compensation Unchanged 55 * 56 Social Security benefits Unchanged 56 * 57 Social Security benefits New 58 Miscellaneous Unchanged 58 * 59 Cumulative Modified 59 * 60 Cumulative Modified 60 *The solution to this problem is available on a transparency master.
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Gross Income: Concepts and Inclusions 3-3 CHECK FIGURES 26.a. 26.b. 26.c. 26.d. 26.e. 26.f. 27. 28. 29.a. 29.b. 29.c.
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This note was uploaded on 09/13/2010 for the course TAX 401 taught by Professor Dr.w during the Spring '10 term at University of Wisconsin–Parkside.

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CH03 - CHAPTER 3 GROSS INCOME CONCEPTS AND INCLUSIONS SOLUTIONS TO PROBLEM MATERIALS Question Problem 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

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