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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?
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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
o
o
o

Discussion Question I6-23
Problems I8-40, C3-38, C3-58, & C3-59
Case Study I10-52
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?