Assignment - Tax Research Problems

Assignment Help Taxation

Reference no: EM132401754

Assignment - Tax Research Problems

Each research problem should be about 2 pages long (single spaced). That means the total submission should be about 4-6 pages. They should follow the facts (4-6 lines), issues (questions answerable by yes or no), conclusions (yes or no), analysis format (quotations of source material and your analysis of the source - as a general rule, the your analysis should be at least as long as the quotation). A final section should be on a single possible violation that could occur for either IRS Circular 230 (10.20 to 10.35 and how) or the AICPA Statement on Standards for Tax Services.

Problem 1: Bob and Sue were expecting a baby in January 2019, but Sue was rushed to the hospital in December 2018. She delivered the baby but it died the first night. Can Bob and Sue claim the baby as a dependent?

Problem 2: William owns a building that is leased to Lester's Machine Shop. Lester requests that William rewrite the building for new equipment Lester plans to purchase. The wiring would cost about $4000, but would not increase the value of the building because its only use is in connection with the specialized equipment . Rather than lose Lester as a lessee, William agrees to forgo one month's rent of $1,000 if Lester will pay for the wiring . Because Lester does not want to move, he agrees. What amount, if any, must William include in gross income?

A partial list of research list is

Sec 109

Reg Sec 1.109-1

CIR v. Grace H. Cunningham, 2 AFTR 2d 5511, 58-2 USTC (9^th Cir,.1958).

Attachment:- Assignment File - Tax Research Problems.rar

Reference no: EM132401754

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