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ACCT 553 Midterm Exam ACCT 553 Week 6 Assignment You Decide ACCT 553 Week 4 Assignment You Decide --------------------------------------------------------------------------- ACCT 553 Final Exam (New) For more course tutorials visit www.uophelp.com 1. (TCO E) Zelda Zayer has been a widow for over 3 years and files a return as a single taxpayer. Items of income received by Zelda in 2011 were as follows. (TCO E) Distinguish between realized gains and losses and recognized gains and losses. (Points : 17) (TCO F) Describe the current tax law for sale of residence. (Points : 17) (TCO I) Amos, a single individual with a salary of $50,000, incurred and paid the following expenses during the year. Question 4. (TCO G) Briefly describe what "material participation" is. Why is the determination of whether a taxpayer materially participates important? (Points : 17)