ACC 547 Week 3 DQ I6-23 Problems: I8-40, C3-38, C3-58,
C3-59, I10-52 Tax Strategy I13-65
February 20, 2006, as a result of heruncle’ s death. The stock’ s FMV on that date is $ 30,000.
• On July 30, 2006, she sells land for $ 25,000 that was received as a gift from herbrother on April 8, 2006, when the land’ s FMV was $ 30,000. Her brother purchasedthe land for $ 43,000 on October 12, 1998. No gift tax was paid.
� a. What is her NSTCL or NSTCG?
� b. What is her NLTCL or NLTCG?
� c. What is the effect of capital gains and losses on her AGI? d. What is her capital loss carryforward to 2007? ===================================================
ACC 547 Week 3 DQ I6-23 Problems: I8-40, C3-38, C3-58,
C3-59, I10-52 Tax Strategy I13-65
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ACC / 547 ACC 547 Week 3- DQ I6-23 * Problems: I8-40 * C3-38 * C3-58, & C3-59 * I10-52 * Tax Strategy I13-65 Week 3 Complete the following in Federal Taxation Comprehensive:
o Discussion Question I6-23 o Problems I8-40, C3-38, C3-58, & C3-59 o Case Study I10-52 o Tax Strategy Problem I13-65
Discussion Question I6-23 Under the related party rules of Sec. 267, why has Congress imposed the concept of constructive ownership? Problem I8-40