Maurice Tutor

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About Maurice Tutor

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 5 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Business & Finance Posted 12 May 2018 My Price 9.00

MS Excel file for grading

Part 1. Use the provided Excel spreadsheet. On Worksheet Column Part 1, Assume the there are no capital loss carryforwards in each of the independent situations presented. You are to:

Calculate AGI that includes the property transactions

Determine the amount and character (short-term or long-term) of any carryforward (if any)

Part 2. On Worksheet Column Part 2, compute the tax liability given each independent situation presented. Review Concept Summary 14.4 on page 14-26 for applicable tax rates. Also review the netting process on pages 14-21 through 14-26 of the text.

Requirements:
Clearly identify the requirements being addressed. Show all calculations within the cells of an Excel spreadsheet. This means that you must use formulas and links so that the thought process can be examined. Make good use of comments to convey your thought process as well. No hard coding of solutions. Submit a single MS Excel file for grading.

  Each scenario listed below is independent Part 1 Part 2
a The taxpayer has W-2 income of $50,000 and sold stock purchased 6 months ago for $5,000. The shares were purchased for $500    
b The taxpayer has W-2 income of $50,000 and sold stock purchased 3 years ago for $5,000. The shares were purchased for $50    
c The taxpayer has W-2 income of $50,000 and sold personal residence purchased 3 years ago for $400,000. The home was purchased for $100,000 (with no other basis adjustments).    
d The taxpayer has W-2 income of $50,000 and sold personal residence purchased 3 years ago for $400,000. The home was purchased for $300,000 (with no other basis adjustments).    
e The taxpayer has W-2 income of $50,000 and sold stock purchased 3 years ago for $5,000. The shares were purchased for $5000    
f The taxpayer has W-2 income of $50,000 and sold stock purchased 3 months ago for $5,000. The shares were purchased for $500    
g The taxpayer has W-2 income of $50,000. The taxpayer made a loan (with a written agreement) to a friend for $2,000. The friend filed for bankruptcy and will not be repaying the loan    
h The taxpayer has W-2 income of $50,000. The taxpayer made a loan (with a written agreement) to a friend for $5,000. The friend filed for bankruptcy and will not be repaying the loan    
 

Answers

Maurice Tutor
(5)
Status NEW Posted 12 May 2018 06:05 PM My Price 9.00

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