Questions from General Taxation


Q: What do you believe led to the conclusion that a sole proprietorship

What do you believe led to the conclusion that a sole proprietorship should report its results on the owner’s tax return?

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Q: Why do you think businesses are allowed an additional year to find

Why do you think businesses are allowed an additional year to find qualifying replacement real estate for realty that is condemned?

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Q: What is a corporate reorganization? Briefly define each of the types

What is a corporate reorganization? Briefly define each of the types of corporate reorganizations.

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Q: Is a depreciation deduction allowed for a warehouse used in business in

Is a depreciation deduction allowed for a warehouse used in business in the year it is sold? If yes, explain how it is calculated.

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Q: What is boot? What effect does boot have on a like

What is boot? What effect does boot have on a like-kind exchange?

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Q: What is a nonsimultaneous exchange? What are the critical factors in

What is a nonsimultaneous exchange? What are the critical factors in qualifying a nonsimultaneous exchange for tax deferral?

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Q: What is an indirect exchange? What are the two most common

What is an indirect exchange? What are the two most common forms of indirect exchanges?

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Q: How is a casualty loss that completely destroys personal-use property

How is a casualty loss that completely destroys personal-use property measured? How is a casualty loss that partially destroys personal-use property measured?

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Q: How is a casualty loss that completely destroys business or investment property

How is a casualty loss that completely destroys business or investment property measured? How is a casualty loss that partially destroys business or investment property measured?

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Q: What limits are placed on the deductibility of casualty and theft losses

What limits are placed on the deductibility of casualty and theft losses of personal-use property?

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