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• ACCT 553 All Homework, Quiz, Midterm, Final, You
  Decide

• ACCT 553 Final Exam (New)

• Please check the Details under individual
  Assignments
• ACCT 553 Week 1 Homework
• ACCT 553 Week 2 Homework
• ACCT 553 Week 3 Homework
• ACCT 553 Week 3 Homework ES (Quiz, Set 1)
• ACCT 553 Week 3 Homework ES (Quiz, Set 2)

• 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)

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• ACCT 553 Midterm Exam

• ACCT 553 Week 1 Homework

• 1. (TCO C) Under current accounting practice,
  intangible assets are classified as (Points 5)
• 2. (TCO C) Which of the following intangible
  assets should not be amortized? (Points 5)
• 3. (TCO C) The intangible asset goodwill may be
  (Points 5)

• Chapter 1 (5 pts)
• 1. Briefly discuss the purpose of the Sixteenth
  Amendment
• Chapter 2 (5 pts)
• 2. Explain the two "safe harbors" available to an
  Individual taxpayer to avoid a penalty for
  underpayment of estimated tax.
• Chapter 3 (5 pts)

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• ACCT 553 Week 2 Homework

• ACCT 553 Week 3 Homework ES (Quiz, Set 1)

• Chapter 4
• 1. Your brother is short on cash and cannot pay
  his rent this month. You pay his rent for him. Is
  this taxable income to your brother? Do you get a
  deduction? (2 pts)
• 2. Which of the following items would be excluded
  from income?

• 1. (TCO A) A taxpayer may litigate a tax dispute
  without first paying the tax in the
• 2. (TCO F) A business bad debt is deductible for
  tax purposes as a(n)
• 3. (TCO I) Under the cash method of tax
  accounting, tax deductions are generally taken
  when
• 4. (TCO A) Which of the following constitutes tax
  evasion?

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• ACCT 553 Week 3 Homework ES (Quiz, Set 2)

• ACCT 553 Week 3 Homework

• 1. A business bad debt is deductible for tax
  purposes as a(n)
• Your Answer
• 2. Which of the following items is not subject to
  federal income tax?
• 3. Sam owes Bob 8,000. Bob cancels (forgives)
  the debt. The cancellation is not a gift and Sam
  is neither insolvent nor bankrupt. Which of the
  following statements is correct concerning the
  impact of this transaction?

• Chapter 7
• 1. In your "own" words, please describe what a
  "Suspended Loss" is, how it is generated and when
  it is becomes deductible. (5 pts)
• 2. Please describe "Active Participation" as it
  relates to a taxpayer's involvement in an
  investment in Real Estate. (5 pts).

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• ACCT 553 Week 4 Assignment You Decide

• ACCT 553 Week 4 Homework

• 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?

• 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.)

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• ACCT 553 Week 5 Homework

• ACCT 553 Week 5 Quiz

• Chapter 14
• 1. Please explain how Charitable Contributions
  come into play in determining "Corporate" taxable
  income. (5 pts)
• 2. What happens to a loss on the Corporate Tax
  Return (Form 1120)? Does it pass through to the
  shareholders? Is it available for future or past
  periods? Please explain in detail. (5 pts.)

• 1. (TCO E) For federal tax purposes, royalty
  income not derived in the ordinary course of a
  business is classified as
• 2. (TCO F) When comparing corporate and
  individual taxation, the following statements are
  true, except
• 3. (TCO H) Al and Amy file a joint return for the
  2012 tax year. Their adjusted gross income is
  80,000.

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• ACCT 553 Week 6 Assignment You Decide

• ACCT 553 Week 6 Homework

• ACCT 553 Week 6 You Decide
• Mark, and John Case
• Part I Discuss the various forms of organization
  that are available to Penelope, Mark, and John
• Part II Make your recommendation as to what form
  of organization you believe will be best, and be
  sure to explain the reasoning for your choice.

• Miyasyke, Inc., a calendar year S corporation,
  has five equal shareholders at the end of the tax
  year. Miyasyke had
• 75,000 of taxable income. Miyasyke made
  distributions to its shareholders of 32,000
  each, for a total of 160,000. Each shareholder's
  basis in the S corporation is 100,000 at the
  beginning of the tax year. What amount from
  Miyasyke should be included in each shareholder's
  gross income?

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• ACCT 553 Week 7 Homework

• Chapters 10-11-12
• 1. Please explain the distinction between a
  "realized" gain and a "recognized" gain. (5 pts)
• 2. Are there any limits to the deductibility of
  losses on sales and exchanges between related
  parties? What code section defines this
  limitation? (5 pts.)
• 3. What is the basis of property received (i.e.
  new property) in a like-kind exchange

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