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Chapter 3 Tax Formula and Tax Determination; an Overview of Property Transactions Solutions to Problem Materials

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Chapter 3 Tax Formula and Tax Determination; an Overview of Property Transactions Solutions to Problem Materials
CHAPTER 3

TAX FORMULA AND TAX DETERMINATION;
AN OVERVIEW OF PROPERTY TRANSACTIONS

SOLUTIONS TO PROBLEM MATERIALS

| | | | |Status: |Q/P |
|Question/ |Learning | | |Present | in Prior |
|Problem |Objective |Topic | |Edition | Edition |
| | | | | | | | | |
| 1 |LO 1 |Tax formula | |Modified |1 |
| 2 |LO 1, 5, 8, 9 |Transactions with various income tax effects | |Modified |2 |
| 3 |LO 1 |Gross income: inclusions | |Modified |3 |
| 4 |LO 1 |Gross income: exclusions | |Modified |4 |
| 5 |LO 1 |U. S. income tax: applicable to expatriates | |New | |
| 6 |LO 1 |“Deductions for”: meaning and various designations | |New | |
| 7 |LO 1, 8, 9 |Effect of AGI on some deductions from | |Unchanged |6 |
| 8 |LO 2 |Choice between standard deduction and itemizing; variables | |Modified |7 |
| | |involved | | | |
| 9
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