10
Certain Business Deductions and Losses
Solutions to Tax Research Problems
10-30 Section 165(a) provides the general rule for losses, stating, "there shall be allowed
as a deduction any loss sustain
6
Gross Income: Inclusions and Exclusions
Solutions to Tax Research Problems
6-60
a. In a divorce, the custodial parent generally is allowed the exemption. Section
152(e), as revised by the Deficit Re
19
Taxation of Business Forms and Their Owners
Solutions to Tax Research Problems
19-25 Family partnerships are attractive because of both tax and non-tax incentives.
However, the Tax Reform Act of 19
18
Employee Compensation and Retirement Plans
Solutions to Tax Research Problems
18-36 There are several ways to approach this problem. Here is one: What is the present
value at the beginning of Year
17
Property Transactions: Dispositions of Trade or Business Property
Solutions to Tax Research Problems
17-58 The research question is: decide whether the fact that the grandmother used the
residence
16
Property Transactions: Capital Gains and Losses
Solutions to Tax Research Problems
16-57 The controlling question is whether a geographical limitation on the exploitation
of a patent is a substanti
14
Property Transactions: Basis Determination and Recognition of Gain or Loss
Solutions to Tax Research Problems
14-39 1. In the first situation, H is able to find a buyer who will pay $1,000 for the
15
Nontaxable Exchanges
Solutions to Tax Research Problems
15-50 Regulation 1.1031(j)-l deals with exchanges of multiple properties. Under this
regulation, assets must be broken down into exchange gro
12
Deductions for Certain Investment Expenses and Losses
Test Bank
True or False
_ 1.
The form of organization usually used for traditional tax shelters is a C
corporation.
_ 2.
The acceleration of ex
11
Itemized Deductions
Solutions to Tax Research Problems
11-41 Shirley should be able to deduct some, if not all of the interest that she pays to
Sam in each of the next 10 years. In John L. Seymour,
9
Capital Recovery: Depreciation Amortization and Depletion
Solutions to Cumulative Problems
9-43
Below are the calculations to compute the taxable income of David and Lauren
Hammack.
Note: This retur
8
Employee Business Expenses
Solutions to Cumulative Problems
8.40
The solution to 8-40 is on the following pages.
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7
Overview of Deductions and Losses
Solutions to Cumulative Problems
Solutions to 7-60 through 7-61 are found on the following pages.
Cumulative Problem 7-60
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[Inser
5
Gross Income
Solutions to Tax Return Problems
5-52
The treatment of the various items is discussed below.
1.
David's salary of $70,000 is taxable and is reported on line 7 of Form 1040.
The withhold
4
Personal and Dependency Exemptions; Filing Status; Determination of Tax for an
Individual; Filing Requirements
Solutions to Tax Return Problems
The solution to problem 4-53 is on page 4-2; the solut
13
The Alternative Minimum Tax and Tax Credits
Solutions to Tax Research Problems
13-51 According to Ltr. Rul. 8349023 (8-31-83), the answer is yes, P will be allowed to
take the credit on her return
3
Taxable Entities; Tax Formula; Introduction to Property Transactions
Solutions to Tax Research Problems
3-56
The purpose for this problem is to allow one to gain an appreciation for the
organization
2
Tax Practice and Research
Solutions to Tax Research Problems
2-23
a. CA-7. This information is shown in the citation for the case.
b. No. There is no Supreme Court citation listed.
c. Tax Court and
1
An Overview of Federal Taxation
Test Bank
True or False
_ 1.
A correlation exists between the amount of Federal tax an individual
pays and the value of benefits an individual receives.
_ 2.
The Thir