Tax Planning Project Due Date: December 1, 2021 5:00 p.m. Note: This

Tax Planning Project

Due Date: December 1, 2021 5:00 p.m.

Note: This is NOT a group project.

Answer the 15 questions below that are not deleted. Assume the transaction occurred in 2021. For each question you are asked to do two things:

Identify the tax issue(s) posed by the facts presented.

Determine the possible tax consequences of each issue that you identify.

Your solution must be word-processed but can be presented in any manner that is clear. You may have to do some research in your textbook (not on Checkpoint) for a couple of items. Each question should be able to be answered in 2 – 4 sentences. References to the primary sources of the tax law is not required.