How is the basis for depreciation determined for depreciable gift property? How are gains and losses treated for exchanges of stock that is held for investment? What are the requirements for property to qualify for like-kind exchange treatment? When tax-exempt municipal bonds (that have a five-year maturity date) are purchased at a $1,000 premium, how much interest income is taxed and how much premium should be amortized in calculating the adjustment to basis annually? (Assume you are using the straight-line method of amortization) How are employee discounts treated for employee purchases of inventory? How are employee discounts treated for employee purchases of services? Section 1245 depreciation recapture generally recaptures gain as ordinary income to the extent of accumulated depreciation or the recognized gain, whichever is less. Define the type of property that is subject to Section 1245 depreciation recapture? What are the carryover provisions for Section 1245 depreciation recapture? What are the holding period carryover provisions for related party transactions? What are the rules for netting capital gains and losses from sales of long-term and short-term capital assets? Define Section 1231 property. How are Section 1231 gains and losses included in the determination of taxable income by individuals? What is the additional standard deduction for old age and blindness for a single taxpayer versus a married (filing jointly) taxpayer? When determining a dependents standard deduction, what formula is used? When determining a dependents standard deduction, what income qualifies as earned income and what income qualifies as unearned income? What are the rules applied when determining which parent (in a divorce) may claim a child as a dependent for purposes of claiming the child tax credit in 2018? What formula is used to determine the filing requirement based on gross income received? What requirements must be met to claim head of household filing status? Compare and contrast deductions for AGI and deductions from AGI. What are the income limitations applied to a potential dependent when determining whether that individual can be claimed as a dependent? What impact does the AMT have on the tax rate applied to an individuals capital gains? How did the change in tax law under the Tax Cuts and Jobs Act of 2017 impact the treatment of alimony when calculating taxable income? Which personal expenditures are not deductible as itemized deductions under the Tax Cuts and Jobs Act of 2017? Summarize the charitable contribution rules for contributions of property (not cash) to a qualifying charitable organization. Summarize the requirements to qualify for the credit for the child and dependent care expenses. What factors are used to classify an individual as an employee as compared to an independent contractor? What requirements must be met to qualify for the foreign earned income exclusion? Summarize the rules determining the deductibility of costs for mixed travel (business and personal). When may the Section 222 deduction for AGI be used in determining taxable income? When are employee benefits discriminatory and what is the consequence for the employer and employee?