ACCT 553 help A Guide to career/uophelp.com ACCT 553 help A Guide to career/uophelp.com | Page 12

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Jane Smith Case
How is the $300,000 treated for purposes of federal tax income?
Jane Smith Tax Issues:
(a) What are the different tax consequences between paying down the
mortgage debt and assuming a new mortgage debt for federal income tax
purposes?
(b) Should John and Jane file separate or joint tax returns?
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ACCT 553 Week 4 Homework
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