Questions from General Taxation

Q: Determine the basis of stock in the hands of the shareholder in

Determine the basis of stock in the hands of the shareholder in each of the following instances. Assume that the 80% rule is met in all cases. a. Contribution of property with a basis of $1,000 and an...

Q: Using the information from Problem 47, determine the basis of the

Using the information from Problem 47, determine the basis of the property contributed in the hands of the corporation in each instance. Assume that the 80% rule is met in all cases. Data from questi...

Q: Explain the operation of the dividends received deduction.

Explain the operation of the dividends received deduction.

Q: Explain the rules associated with capital loss carrybacks and carryforwards.

Explain the rules associated with capital loss carrybacks and carryforwards.

Q: Determine the amount of dividends received deduction in each of the following

Determine the amount of dividends received deduction in each of the following instances. In all cases, the net income figure includes the full dividend. a. Dividend of $10,000 from a 45% owned corpor...

Q: For each of the following cases, determine the amount of capital

For each of the following cases, determine the amount of capital gain or loss to report in each year (after taking into account any applicable carrybacks) and the capital loss carryforward to 2017, if...

Q: Determine the deductible charitable contribution in each of the following instances.

Determine the deductible charitable contribution in each of the following instances. a. Charitable contribution of $4,000 and taxable income before charitable contribution of $50,000. b. Charitable co...

Q: Determine the amount of tax liability in each of the following cases

Determine the amount of tax liability in each of the following cases. a. Taxable income of $45,200. b. Taxable income of $450,200. c. Taxable income of $4,500,200. d. Taxable income of $14,500,200. e....

Q: Can the exchange of personal-use property qualify as a like

Can the exchange of personal-use property qualify as a like-kind exchange? Why or why not?

Q: What types of properties do not qualify for like-kind exchange

What types of properties do not qualify for like-kind exchange treatment?