Directions: Tax Research Memo based on the information provided below

1. Your clients Millie and Bob have asked you to make a tax research memo to help them understand some complex tax issues. In the Word document titled "AC312 Unit 3 Tax Research Memo #1" you will find a summary of the issues Millie and Bob would like you to research along with the pertinent facts you require to reach a proper conclusion.
2. You have also been provided the relevant Internal Revenue Code sections in pdf format. You will NOT need to reference any additional source of authoritative guidance to provide an accurate analysis for your client.
3. Closely study the "Tax Research Memo - Helpful Tips" Word document as well as the grading rubric for this research memo assignment as you make a tax research memo for Millie and Bob using Microsoft Word. You may also find it beneficial to review the Word document titled "Sample Tax Research Memo" to better help you visualize the proper layout and format of a professional tax research memo.