1. (30 points) Using the individual taxpayer section (starting on page file in Canvas titled "Deloitte Tax Summary 2018", pick one item from the proposed tax reform and discuss in 3 to 4 short paragraphs how you think it will help or be a detriment to the middle-class. Compare and contrast it to current tax policy.

What is the formula to calculate the gain or loss on a specific investment (hint, review Form 8949 or Schedule D or Form 4797 and instructions)?

Discuss why US provides the incentive of accelerated depreciation on assets.