Chap 5 Income Tax Solution

Only available on StudyMode
  • Download(s) : 202
  • Published : February 23, 2013
Open Document
Text Preview
CHAPTER 5

GROSS INCOME: EXCLUSIONS

SOLUTIONS TO PROBLEM MATERIALS

| | | | |Status: | | Q/P | |Question/ |Learning | | |Present | | in Prior | |Problem |Objective |Topic | |Edition | |Edition | | | | | | | | | | |1 | |LO 2 |Inheritance and compensation | |Unchanged |1 | |2 | |LO 2 |Income from gifts | |New | | |3 | |LO 1, 2 |Gift versus gross income | |Unchanged |3 | |4 | |LO 2 |Life insurance proceeds and “income in respect of a decedent” | |New | | |5 | |LO 2 |Gift versus compensation | |New | | |6 | |LO 2 |Gift and effect of legal obligation | |Unchanged |6 | |7 | |LO 2 |Life insurance: transfer for valuable consideration | |Unchanged |7 | |8 | |LO 2 |Life insurance: cash surrender value and accelerated death | |Unchanged |8 | | | | |benefits | | | | |9 | |LO 2 |Scholarship and lodging | |Unchanged |9 | |10 | |LO 2 |Damages | |Unchanged |10 | |11 | |LO 2 |Damages | |Modified |11 | |12 | |LO 2 |Loss of income insurance and workers’ compensation | |Unchanged |12 | |13 | |LO 2 |Flexible benefit account | |Unchanged |13 | |14 | |LO 2, 5 |Salary decrease versus health insurance premiums | |Unchanged |14 | |15 | |LO 2 |Cafeteria plans versus flexible spending plans | |Unchanged |15 | |16 | |LO 2 |Fringe benefits: employee discounts | |Modified |16 | |17 | |LO 2, 5 |Alternative compensation options | |Unchanged |17 | |18 | |LO 2, 5 |Qualified transportation fringe | |Unchanged |18 | |19 | |LO 2 |Employer provided facilities | |Unchanged |19 | |20 | |LO 2 |Qualified retirement planning services | |Modified |20 | |21 | |LO 2 |Foreign earned income exclusion | |New | | |22 | |LO 2, 5 |Taxable versus tax-exempt bonds | |Unchanged |22 | |23 | |LO 3 |Tax benefit rule |...
tracking img