최신 CPA-Regulation 무료덤프 - AICPA Certified Public Accountant CPA Regulation

Leker exchanged a van that was used exclusively for business and had an adjusted tax basis of
$20,000 for a new van. The new van had a fair market value of $10,000, and Leker also received
$3,000 in cash. What was Leker's tax basis in the acquired van?

During 2001, Adler had the following cash receipts:

What is the total amount that must be included in gross income on Adler's 2001 income tax return?

Under the uniform capitalization rules applicable to property acquired for resale, which of the following costs should be capitalized with respect to inventory if no exceptions are met?

The rule limiting the allowability of passive activity losses and credits applies to:

Conner purchased 300 shares of Zinco stock for $30,000 in 1980. On May 23, 1994, Conner sold all the stock to his daughter Alice for $20,000, its then fair market value. Conner realized no other gain or loss during 1994. On July 26, 1994, Alice sold the 300 shares of Zinco for $25,000.
What amount of the loss from the sale of Zinco stock can Conner deduct in 1994?

Gibson purchased stock with a fair market value of $14,000 from Gibson's adult child for $12,000.
The child's cost basis in the stock at the date of sale was $16,000. Gibson sold the same stock to an unrelated party for $18,000. What is Gibson's recognized gain from the sale?

Tom and Joan Moore, both CPAs, filed a joint 1994 federal income tax return showing $70,000 in taxable income. During 1994, Tom's daughter Laura, age 16, resided with Tom. Laura had no income of her own and was Tom's dependent.
Determine the amount of income or loss, if any that should be included on page one of the Moores'
1994 Form 1040.
In 1994, Joan received $3,500 as beneficiary of the death benefit, which was provided by her brother's employer. Joan's brother did not have a nonforfeitable right to receive the money while living.