ACCT 553 STUDY Great Stories Here/acct553study.com ACCT 553 STUDY Great Stories Here/acct553study.com | Page 13

(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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Chapter 14
1. Please describe the concept of "double taxation" and discuss
which entity(ies) are subject to this type of taxation. (5 pts)
2. What type of taxpayers are considered "eligible" taxpayers with
regard to special ordinary loss treatment of IRC Section 1244 stock?
(5 pts.)
3. Please describe how the treatment of capital gains(losses) differ
for a C Corporation as compared to an Individual. ( 5 pts.)
4. Please describe the concept of "Depreciation recapture". ( 5 pts.)
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ACCT 553 Week 5 Homework
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www.acct553study.com
Chapter 14