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Unformatted text preview: child turning 18. Included un-reimbursed country club dues because much of club use is business related. Wife bought a $4,000 computer on May 1 for her consulting business. Taxpayer and wife bought a new $45,000 Acura RL for both wifes consulting business as well as some personal use. Purchase made on July 1. Taxpayer wants to maximize deduction/write-off from purchase on 2009 tax return. Bought land at cost of $50,000 on May 1, 2008 for investment purposes. Sold land to the city for $150,000 on November 22, 2009. Donated $12,000 to Prince Church in equal first-of-the-month installments. Donated $1,000 to Republican National Committee. Donated baseball card collection Childrens Hospital on September 1, 2009. Paid $3.500 for collection on May 15, 1992. Appraised at $4,000. Wife made first contribution of $3,000 to a regular IRA on December 29, 2009....
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This note was uploaded on 05/26/2011 for the course ACCT 5400 taught by Professor Staff during the Spring '08 term at University of Georgia Athens.
- Spring '08