Question What is the amount and character of the gain Conclusion 35000 ordinary

Question what is the amount and character of the gain

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$60,000 over four years, then disposed of it for $75,000. Question: What is the amount and character of the gain? Conclusion: $35,000 ordinary gain Analysis: 1
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vG A. Basis of $40,000, gain of $35,000 B. Excluded from being a capital asset under §1221 C. Falls within the definition of a §1231 asset D. Depreciation recapture under §1245 2. Tax Research Memorandum The format for this document is as described and demonstrated in class: Facts Questions Conclusions Analysis You must cite only primary sources (Code, Regs, and court cases). This is your written work product and must be client-ready - that is, error-free. It must be presented to me in class on the target date. Your grade will be determined both by the quality of your thinking and your writing. This document expands upon the chain of logic provided in your Detailed Outline by providing the complete explanation of each step in your analysis. You must submit your graded Detailed Outline along with your Tax Research Memorandum. Your Tax Research Memorandum is due on the Target Date. 3. Presentation The final step is the oral presentation of your tax research. This will be done in class on a date I designate. You will present your research orally and respond to questions. Your grade will be determined by the quality of your presentation and by your ability to respond to questions clearly. Due Dates As an example of the due dates, assume that your case deals with Chapter 20, which will be first discussed in class #13. The following dates might apply: Detailed Outline due - Class #9 Tax Research Memorandum due - Class #13 Target Date (Chapter 20 first discussed) - Class #13 Oral Presentation - Class #13 through # 17. I will designate this in advance. This example is offered only to demonstrate that you will have time to review your graded Detailed Outline before you compose your Tax Research Memorandum. Your actual due dates will be assigned at the time your case is assigned. 2
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  • Spring '12
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  • Depreciation, Tax Research Memorandum

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