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eform_B_PSA3_A

# eform_B_PSA3_A - e-file Form | Due Date Time Team...

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e-file Form | Due Date & Time PSA3 Wednesday, October 27, 2010 @ 8 AM Team Members 1. (Last Name, First Name) 2. 3. Team Number 4. 5. Section (A, B, C): (A = TR @ 2 pm, B = TR @ 4 pm, C= MW @ 8 am) Team Score | Comments of 25 Chapter 9 – Pr #35 (p. 9-47): Student score = of 8 possible a. Rex’s adjusted basis using the automatic mileage method: Amount ½ pt Cost of automobile Less depreciation (under automatic mileage method) Year Mileage (M) Business Use (U) Rate (R) M X U X R 1 pt 2008 1 pt 2009 1 pt 2010 ½ pt Adjusted basis on 1/1/2011 b. Rex’s adjusted basis using the actual cost method: ½ pt Cost of automobile Less depreciation (under actual cost method) Yr (Y) Cost (C) R BU Amt-T Limit (L) BU Amt-L Allowed 1 pt 2008 1 pt 2009 1 pt 2010 ½ pt Adjusted basis on 1/1/2011 Chapter 9 – Pr #53 (p. 9-51): Student score = of 1 possible Amount 1 pt How much of the funds can Stuart withdraw tax free? Chapter 9 – Pr #54 (p. 9-51): Student score = of 1 possible Amount 1 pt What amount, if any, must Dana include in her gross income in 2010?

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