Simply identify the tax issues

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Identify the tax issue(s) suggested by the following situations and state each issue in the form of a question. List as many tax research issues as you can to determine the tax consequences of the following transactions. Do NOT attempt to answer any of the questions you raise. Simply identify the tax issues.

1. On December 1, 2014, Monica receives $15,000 for three months rent ( December 2014, January 2015 and February 2015) for a commercial building.

2. Aloha Inc. sells timeshares in Hawaii. Gerry buys timeshare from Aloha Inc,. He agrees to pay $10,000 down and Alhoa Inc. will finance a seven year note for the balance of the purchase price at the current market rate of interest. Identify the issues for Aloha Inc.

Identify the tax issue(s) suggested by the following situations and state each issue, No word count there, Just write your response to state the answer briefly.l

Reference no: EM13662399

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