Ch14V1TB - CHAPTER 14 PROPERTY TRANSACTIONS DETERMINATION...

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CHAPTER 14 PROPERTY TRANSACTIONS: DETERMINATION OF GAIN OR LOSS AND BASIS CONSIDERATIONS Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Realized gain or loss: definition of Unchanged 1 2 Amount realized: mortgage assumption New 3 Amount realized: mere decline in value distinguished Unchanged 3 4 Amount realized and liabilities Unchanged 4 5 Fair market value: definition of Unchanged 5 6 Liabilities and adjusted basis Unchanged 6 7 Capital additions versus repairs and maintenance Unchanged 7 and effect on basis 8 Cost recovery: allowed and allowable Unchanged 8 9 Casualties and adjusted basis New 10 Casualties and adjusted basis Unchanged 10 11 Casualties and recognized gain Unchanged 11 12 Corporate distributions: effect of earnings and Unchanged 12 profits 13 Corporate distributions: return of capital Unchanged 13 14 Corporate distributions: return of capital Unchanged 14 15 Amortizable bond premium Unchanged 15 16 Amortizable bond premium and discount Unchanged 16 17 Easments Unchanged 17 18 Gains and losses on personal use assets Unchanged 18 19 Recovery of capital and realization Unchanged 19 20 Recovery of capital and realization Unchanged 20 21 Bargain purchase New 22 Cost identification for securities Unchanged 22 23 Lump-sum purchase New 24 Goodwill: purchased versus developed Unchanged 24 25 Nontaxable stock dividends New 26 Nontaxable stock rights New 27 Gift basis: appreciated property New 28 Gift basis: appreciated property and gift tax Unchanged 28 29 Gift basis: gain basis and loss basis Unchanged 29 30 Gift basis: depreciation New 14-1
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14-2 2009 Annual Edition/Test Bank Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 31 Gifts and holding period Unchanged 31 32 Inherited property: basis Unchanged 32 33 Inherited property: alternate valuation date Unchanged 33 34 Inherited property: alternate valuation date Unchanged 34 35 Inherited property: alternate valuation date Unchanged 35 36 Inherited property: community property versus Unchanged 36 common law property basis 37 Inherited property: holding period Unchanged 37 38 Disallowed loss: related taxpayers New 39 Disallowed loss: constructive ownership Unchanged 39 40 Disallowed loss: related taxpayers Unchanged 40 41 Disallowed loss: right of offset Unchanged 41 42 Disallowed loss: wash sale Unchanged 42 43 Disallowed loss: wash sale Unchanged 43 44 Personal use property converted to business use Unchanged 44 45 Personal use property converted to business use Unchanged 45 46 Gift versus inheritance Unchanged 46 47 Selection of property for a gift Unchanged 47 MULTIPLE CHOICE 1 Realized loss: mere decline in value Unchanged 1 2 Amount realized Unchanged 2 3 Amount realized determined
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This note was uploaded on 11/22/2011 for the course ACC 432B taught by Professor Wolod during the Fall '11 term at National.

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Ch14V1TB - CHAPTER 14 PROPERTY TRANSACTIONS DETERMINATION...

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