Federal Tax

Topics: Taxation in the United States, Capital gain, Itemized deduction Pages: 30 (8707 words) Published: August 20, 2013
CHAPTER 7 DEDUCTIONS AND LOSSES: CERTAIN BUSINESS EXPENSES AND LOSSES SOLUTIONS TO PROBLEM MATERIALS

Question/ Problem 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28

Learning Objective LO 1 LO 1 LO 1 LO 1 LO 1 LO 1 LO 1 LO 2 LO 2 LO 3, 4 LO 3, 4 LO 4 LO 4 LO 4 LO 4 LO 4 LO 4 LO 4 LO 4 LO 4 LO 3, 4 LO 5 LO 5 LO 6 LO 6 LO 6 LO 7 LO 7

Topic Bad debts: accounts receivable Bad debts: basis Bad debts: worthlessness Bad debts: recovery Bad debts: business Bad debts: business Worthless securities versus theft loss Worthless securities versus bad debts Section 1244 stock Casualty loss versus business loss Casualty loss Casualty loss: timing Casualty loss: reimbursement Casualty loss: measurement rule for theft Casualty loss: insurance claim Casualty loss: cost of repairs method Casualty loss: rental property Casualty loss: miscellaneous itemized deductions Casualty loss: 10% of AGI floor Casualty loss: occurrence Casualty loss: occurrence Research expenditures Research expenditures Research expenditures Domestic production activities deduction (DPAD): tax benefit Domestic production activities deduction (DPAD): NOL effect Net operating loss: definition Net operating loss: unreimbursed employee business expense 7-1

Status: Present Edition New Unchanged Unchanged Modified Unchanged Unchanged Unchanged Unchanged Modified Modified Unchanged Unchanged Unchanged New Unchanged Unchanged Modified Unchanged New Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Modified New

Q/P in Prior Edition 2 3 4 5 6 7 8 9 10 11 12 13 15 16 17 18 20 21 22 23 24 25 26 27 28

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

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2013 Individual Income Taxes/Solutions Manual Status: Present Edition Unchanged Unchanged Unchanged Unchanged Modified Unchanged Modified Unchanged Modified Unchanged Modified Unchanged Modified Modified Unchanged Q/P in Prior Edition 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43

Question/ Problem 29 30 31 32 33 34 *35 *36 *37 *38 *39 *40 *41 42 43

Learning Objective LO 7 LO 7

Topic

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Net operating loss: itemized deductions Net operating loss: effect of carryback on charitable contribution LO 7 Net operating loss: calculation and carryback LO 1 Bad debts: nonbusiness LO 1 Bad debts: nonbusiness LO 1 Bad debts: business LO 1, 2 Bad debt and § 1244 stock and capital loss limit LO 2, 8 Section 1244 stock LO 4 Casualty loss: personal and business LO 3, 4, 8 Casualty loss: disaster area loss LO 3, 4 Casualty loss: business versus personal use property LO 3, 4 Casualty loss: insurance recovery LO 5 Research expenditures LO 6 Domestic production activities deduction (DPAD) LO 6 Domestic production activities deduction (DPAD): qualified production activities income (QPAI) and AGI for individual LO 6 Domestic production activities deduction (DPAD): qualified production activities income (QPAI) and NOL LO 6 Domestic production activities deduction (DPAD): qualified production activities income (QPAI) LO 6 Domestic production activities deduction (DPAD): qualified production activities income (QPAI) and W-2 wage limit LO 7 Net operating loss: calculation LO 7 Net operating loss: calculation LO 7 Net operating loss: calculation, recomputed taxable income, and remaining NOL LO 7 Net operating loss: calculation for farming business LO 7 Net operating loss: carryover for farming business LO 7 Net operating loss: farming business LO 7 Net operating loss: carryover LO 7 Net operating loss: calculation and carryover LO 1, 2, 7 Net operating loss and § 1244 stock: calculation

Modified

44

Unchanged Unchanged

45 46

Updated Modified Updated Updated Updated Unchanged Updated Updated Modified

47 48 49 50 51 52 53 54 55

© 2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or...
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