Questions from Federal Taxation

Q: Compute Aiden’s 2017 taxable income on the basis of the following information

Compute Aiden’s 2017 taxable income on the basis of the following information. Aiden is married but has not seen or heard from his wife for over three years. Salary …………………………………………………………………………………………...

Q: You are interviewing a client before preparing his tax return. He

You are interviewing a client before preparing his tax return. He indicates that he did not list as income $96,000 received as a recovery for false imprisonment. What should you do with respect to thi...

Q: Determine the amount of the 2017 standard deduction allowed in the following

Determine the amount of the 2017 standard deduction allowed in the following independent situations. In each case, assume that the taxpayer is claimed as another person’s dependent. a. Curtis, age 18,...

Q: Jane, a tax practitioner, has reviewed the law on how

Jane, a tax practitioner, has reviewed the law on how State X’s income tax applies to a client’s web-based consulting business, but is unable to reach a conclusion for which she has a high level of co...

Q: (1) Go to www.taxalmanac.org, and

(1) Go to www.taxalmanac.org, and use the website to find § 61(a). What is defined in this Code Section? Is the definition broad or narrow? (2) Go to www.legalbitstream.com, and find the case in which...

Q: Analyze each of the characteristics in considering the indicated test for dependency

Analyze each of the characteristics in considering the indicated test for dependency as a qualifying child or qualifying relative. For each of the last two columns, state whether the test is Met, Not...

Q: Go to the U.S. Tax Court website (www

Go to the U.S. Tax Court website (www.ustaxcourt.gov). a. What different types of cases can be found on the site? b. What is a Summary Opinion? Find one. c. What is a Memorandum Opinion? Find one

Q: Determine the number of personal and dependency exemptions in each of the

Determine the number of personal and dependency exemptions in each of the following independent situations. a. Leo and Amanda (ages 48 and 46, respectively) are married and furnish more than 50% of th...

Q: Donna does not think she has an income tax problem but would

Donna does not think she has an income tax problem but would like to discuss her situation with you just to make sure there is no unexpected tax liability. Base your suggestions on the following relev...

Q: Determine the number of personal and dependency exemptions in each of the

Determine the number of personal and dependency exemptions in each of the following independent situations. No tax treaty provisions apply. a. Reginald, a U.S. citizen and resident, contributes 100% o...