Chapter 13 Answer

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  • Topic: Real estate, Capital gain, Fair market value
  • Pages : 89 (18797 words )
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  • Published : January 26, 2013
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CHAPTER 13

PROPERTY TRANSACTIONS: DETERMINATION OF GAIN OR
LOSS, BASIS CONSIDERATIONS, AND NONTAXABLE EXHANGES

SOLUTIONS TO PROBLEM MATERIALS

| | | | |Status: | Q/P | |Question/ |Learning | | |Present |in Prior | |Problem |Objective |Topic | |Edition |Edition | | | | | | | | | | | | 1 |LO 1 |Sale or other disposition | |Unchanged | 1 | | 2 |LO 1 |Sale or other disposition versus mere change in value | |Unchanged | 2 | | 3 |LO 1 |Amount realized: determination of | |Unchanged | 3 | | 4 |LO 1 |Amount realized and basis considerations |Modified | 4 | | 5 |LO 1 |Basis and effect of liability | |Modified | 5 | | 6 |LO 1 |Basis: note versus cash | |Modified | 6 | | 7 |LO 1 |Amount realized and basis considerations | |Modified | 7 | | 8 |LO 1 |Basis and cost recovery: allowed versus allowable | |Unchanged | 8 | | | |depreciation | | | | | 9 |LO 1 |Basis and cost recovery: effect of depreciation | |Unchanged | 9 | | 10 |LO 1 |Corporate distributions | |Modified | 10 | | 11 |LO 1 |Amortization of bond premium | |Unchanged | 11 | | 12 |LO 2 |Sale of personal use assets: gain versus loss | |Unchanged | 12 | | 13 |LO 2 |Sale of personal use assets: gain versus loss | |Unchanged | 13 | | 14 |LO 3 |Recovery of capital and life insurance proceeds | |Unchanged | 14 | | 15 |LO 4 |Lump-sum purchase, basis, and goodwill | |Unchanged | 15 | | 16 |LO 4 |Stock basis: cost basis versus no cost basis for stock | |Unchanged | 16 | | | |dividend | | | | | 17 |LO 1, 2, 4, 11 |Gift versus sale of asset and gift of proceeds | |New | | | 18 |LO 4 |Gift basis: gain basis and loss basis | |New | | | 19 |LO 4 |Property transferred by inheritance versus by gift | |Unchanged | 19 |

| | | | |Status: | Q/P | |Question/ |Learning |...
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