Individual Income Tax
CHAPTER 10 DEDUCTIONS AND LOSSES: CERTAIN ITEMIZED DEDUCTIONS 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
Learning Objective LO 1, 2 LO 2 LO 2 LO 2, 8 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 3 LO 5, 8 LO 5, 8 LO 5 LO 5 LO 5 LO 6 LO 6 LO 6 LO 6 LO 6, 8 LO 6, 8 LO 6, 8 LO 2 LO 2
Topic Effect of changes in AGI on medical expense deduction Definition of a medical expense Cosmetic surgery as a medical expense Nursing home expenses Medical expense qualifications Timing of medical insurance reimbursement Self-employed versus employee medical insurance Medical and casualty loss reimbursement Health savings account (HSA) Free medical care; medical expenses and divorce Apportionment of real estate tax Mortgage interest expense Home equity loan Deduction of interest on home equity loans When “points” are deductible Deduction of interest on debt between related parties Contribution to an individual and church Value received for contribution Charitable contribution: benefit received Contribution of services Timing of contribution Timing of contribution Charitable contribution: various Medical expense deduction and reimbursement Medical expenses: deduction and tax benefit rule 10-1
Status: Present Edition Unchanged Modified Unchanged Unchanged New New Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged New Unchanged Unchanged New Unchanged Unchanged Modified Unchanged New New New Updated
Q/P in Prior Edition 1 2 3 4
7 8 9 10 11 12 13 15 16 18 19 20 21
25
© 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.
10-2
2013 Individual Income Taxes/Solutions Manual Status: Present Edition New Unchanged Unchanged Unchanged New Unchanged New Unchanged New Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Modified Modified Unchanged Updated Modified 35 36 37
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
Learning Objective LO 1, 2 LO 2 LO 2 LO 2, 8 LO 2 LO 2 LO 2 LO 2 LO 2 LO 2 LO 3 LO 5, 8 LO 5, 8 LO 5 LO 5 LO 5 LO 6 LO 6 LO 6 LO 6 LO 6, 8 LO 6, 8 LO 6, 8 LO 2 LO 2
Topic Effect of changes in AGI on medical expense deduction Definition of a medical expense Cosmetic surgery as a medical expense Nursing home expenses Medical expense qualifications Timing of medical insurance reimbursement Self-employed versus employee medical insurance Medical and casualty loss reimbursement Health savings account (HSA) Free medical care; medical expenses and divorce Apportionment of real estate tax Mortgage interest expense Home equity loan Deduction of interest on home equity loans When “points” are deductible Deduction of interest on debt between related parties Contribution to an individual and church Value received for contribution Charitable contribution: benefit received Contribution of services Timing of contribution Timing of contribution Charitable contribution: various Medical expense deduction and reimbursement Medical expenses: deduction and tax benefit rule 10-1
Status: Present Edition Unchanged Modified Unchanged Unchanged New New Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged New Unchanged Unchanged New Unchanged Unchanged Modified Unchanged New New New Updated
Q/P in Prior Edition 1 2 3 4
7 8 9 10 11 12 13 15 16 18 19 20 21
25
© 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.
10-2
2013 Individual Income Taxes/Solutions Manual Status: Present Edition New Unchanged Unchanged Unchanged New Unchanged New Unchanged New Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Modified Modified Unchanged Updated Modified 35 36 37