Homework Answers
A
for 2018 and beyond, the TCJA eliminates tax-deferred like-kind exchange treatment for exchanges of personal property.
Prior rules that allow like kind exchanges of personal property still apply if one leg of the exchange was completed on or before December 31, 2017 while one leg remained open on that date.
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Select the best answer. Due to a change in the Tax Cuts and Jobs Act (TCJA),...
The Tax Cuts Job Act (TCJA) changed the rules for like-kind exchanges so that they no...
The Tax Cuts Job Act (TCJA) changed the rules for like-kind exchanges so that they no longer apply to personal property. Discuss why the legislators made this change and whether it will be good for the generation of income tax revenue in the future. In a follow-up post, find a classmate's post you disagree with and professionally try to persuade him or her to agree with your points. Remember to avoid any political bias in your posts.
The revised text of the Tax Cuts and Jobs Act (TCJA) of 2017 provides some support...
The revised text of the Tax Cuts and Jobs Act (TCJA) of 2017 provides some support for sole-proprietorships, partnerships and S-corporations, but yet has eliminated certain miscellaneous deductions. Are sole proprietorships, partnerships and S-corporations truly benefitting from the revisions proposed by the TCJA of 2017?
The revised text of the Tax Cuts and Jobs Act (TCJA) of 2017 provides some support...
The revised text of the Tax Cuts and Jobs Act (TCJA) of 2017 provides some support for sole-proprietorships, partnerships and S-corporations, but yet has eliminated certain miscellaneous deductions. Are sole proprietorships, partnerships and S-corporations truly benefitting from the revisions proposed by the TCJA of 2017?
The revised text of the Tax Cuts and Jobs Act (TCJA) of 2017 provides some support...
The revised text of the Tax Cuts and Jobs Act (TCJA) of 2017 provides some support for sole-proprietorships, partnerships and S-corporations, but yet has eliminated certain miscellaneous deductions. Are sole proprietorships, partnerships and S-corporations truly benefitting from the revisions proposed by the TCJA of 2017? (respond with detail to help understand better plz)
The revised text of the Tax Cuts and Jobs Act (TCJA) of 2017 provides some support...
The revised text of the Tax Cuts and Jobs Act (TCJA) of 2017 provides some support for sole-proprietorships, partnerships and S-corporations, but yet has eliminated certain miscellaneous deductions. Are sole proprietorships, partnerships and S-corporations truly benefitting from the revisions proposed by the TCJA of 2017? (please explain so we fully understand thank you!)
L LTE 2:41 PM Module 2 Discussion The 2017 Tax Cuts and Jobs Act ("TCJA") is the most significant...
l LTE 2:41 PM Module 2 Discussion The 2017 Tax Cuts and Jobs Act ("TCJA") is the most significant overhaul to the Internal Revenue Code since 1986. You can get a brief overview of the TCJA here. Everything you'll be learning in this course is in accordance with the new laws that are effective beginning this tax year (2018); however, l'd like you to consider certain differences when compared to the prior law to get a better understanding of the...
Question 20 of 75. Which of the following statements is correct with regard to unrecaptured $1250...
Question 20 of 75. Which of the following statements is correct with regard to unrecaptured $1250 gain? Unrecaptured 51256 gain is: Taxed at 28% capital gains tax rate or the taxpayer's lower tax rate applicable Taxed at 25% capital gains tax rate or the taxpayer's lower tax rate, if applicable O Taxed at 18% capital gains tax rate or the taxpayer's lower tax rate, if applicable Taxed at O capital gains tax rate or the taxpayer's lower tax rate. If...
Under the TCJA, personal and dependency exemptions in 2018 are doubled remain the same are eliminated...
Under the TCJA, personal and dependency exemptions in 2018 are doubled remain the same are eliminated None of the above. Under the TCJA, miscellaneous itemized deductions, which in 2017 needed to exceed 2 percent of AGI to be deductible, in 2018 are doubled remain the same are eliminated None of the above. Under the TCJA, individual income tax rates in 2018 in general are increased remain the same are eliminated are decreased None of the above. Under the TCJA, the...
In an exchange Archie gave up his fully depreciated business use dump truck (DMV 15,000) and...
In an exchange Archie gave up his fully depreciated
business use dump truck (DMV 15,000) and 5000 for a newer business
use dump truck (DMV 20,000) The exchange was completed on January
12, 2018. Which of the following statements is TRUE In regard to
Archies exchange of business property?
1) Archie will not be 5defer a gain on his ex
The arrest lose the prod The next future yestos Last years and ending with from the h o use Mark...
Select the best answer. The Tax Cuts and Jobs Act: Requires the use of the FIFO...
Select the best answer. The Tax Cuts and Jobs Act: Requires the use of the FIFO method for determining the tax basis of stock shares that are sold in taxable accounts. Still allows the specific ID method for determining the tax basis of stock shares that are sold in taxable accounts. Requires the use of the last-in-first-out (LIFO) method for determining the tax basis of stock shares that are sold in taxable accounts. Requires the use of the dual category...
l LTE 2:41 PM Module 2 Discussion The 2017 Tax Cuts and Jobs Act ("TCJA") is the most significant overhaul to the Internal Revenue Code since 1986. You can get a brief overview of the TCJA here. Everything you'll be learning in this course is in accordance with the new laws that are effective beginning this tax year (2018); however, l'd like you to consider certain differences when compared to the prior law to get a better understanding of the...
Question 20 of 75. Which of the following statements is correct with regard to unrecaptured $1250 gain? Unrecaptured 51256 gain is: Taxed at 28% capital gains tax rate or the taxpayer's lower tax rate applicable Taxed at 25% capital gains tax rate or the taxpayer's lower tax rate, if applicable O Taxed at 18% capital gains tax rate or the taxpayer's lower tax rate, if applicable Taxed at O capital gains tax rate or the taxpayer's lower tax rate. If...
In an exchange Archie gave up his fully depreciated
business use dump truck (DMV 15,000) and 5000 for a newer business
use dump truck (DMV 20,000) The exchange was completed on January
12, 2018. Which of the following statements is TRUE In regard to
Archies exchange of business property?
1) Archie will not be 5defer a gain on his ex
The arrest lose the prod The next future yestos Last years and ending with from the h o use Mark...
Select the best answer. The Tax Cuts and Jobs Act: Requires the use of the FIFO method for determining the tax basis of stock shares that are sold in taxable accounts. Still allows the specific ID method for determining the tax basis of stock shares that are sold in taxable accounts. Requires the use of the last-in-first-out (LIFO) method for determining the tax basis of stock shares that are sold in taxable accounts. Requires the use of the dual category...
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