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Compute Suzy's late payment penalty if she pays the rest of the balance due ($300) on August 31.
Tim failed to file his tax return on April 15 and forgot to file for an extension.
Brad and Carol Thomas made an agreement with a neighbor's child to care for their lawn.
No gain is recognized by a shareholder who contributes cash to a corporation solely in exchange for stock in the corporation ?
No gain or loss is recognized when shareholders contribute property to a corporation solely in exchange for stock in the corporation as long.
The $5,000 immediate deduction for organizational costs is not allowed when the corporation's organizational costs exceed $55,000.
The dividends received deduction is always 100% when the corporation receiving the dividends owns at least 80% of the stock.
How much gain or loss do Jeannie and the corporation recognize on the transfer?
How much gain or loss do Toby, Keith, and the corporation recognize on the transfer?
How much gain or loss do Howard, Todd, and the corporation recognize on the transfer?
What is a short year return and when would a corporation have one?
If a corporation wants to change its tax year from October 31 to July 31, what must it do?
For the current year, BB Corporation had net income from operations of $65,000 and a net long-term capital loss of $9,000.
Discuss the tax implications of the CEO's salary both to the corporation and the CEO.
ufford is now considering acquiring another farm for $180,000 and then offering that farm plus $20,000 to Jack in exchange for his farm.
Adam, who is single, sold his principal residence for $440,000. He paid $28,000 in selling expenses.
The Wholesale Dress Shop was destroyed by fire in January. The adjusted basis of the building was $150,000.
What is the amount of gain recognized for income tax purposes? What is the basis of the new warehouse?
If Kari elects to postpone recognition of her gain, by what date must she purchase replacement property.
Find the appropriate page that discusses the requirements for a qualified small business corporation under Section 1202.
Compute Tripper's recognized gain or loss on the sale of the home and on the sale of its furnishings.
The gain on the sale of inherited property results in long-term or short-term gain, depending on the amount of time the taxpayer holds the property.
In the netting process, worthless securities are always treated as long-term capital losses?
Nonbusiness bad debts are always treated as short-term capital losses ?
Distinguish between long-term capital gain and short-term capital gain for capital assets acquired January 10, 2013.