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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
1.    LO.1, 5, 8, 9 During the year, Addison is involved in the following transactions. What are the possible Federal income tax effects of these transactions?
•    Lost money gambling on a trip to a casino.
•    Helped pay for her neighbor Howie’s dental bills. Howie is a good friend who is unemployed.
•    Received from the IRS a tax refund due to Addison’s overpayment of last year’s Federal income taxes.
•    Paid a traffic ticket received while double parking to attend a business meeting.
•    Contributed to the mayor’s reelection campaign. The mayor had promised Addi- son to rezone some of her  land.
•    Borrowed money from a bank to make a down payment on an automobile.
•    Sold a houseboat and a camper on eBay. Both were personal use items, and the gain from one offset the loss from the other.
•    Her dependent Aunt Katherine died on June 3 of the  year.
•    Paid for Katherine’s funeral expenses.
•    Paid premiums on her dependent son’s life insurance policy.
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