2.10.1 Sale of a Partnership Interest (1)

Question 問題、
Which of the following statements about the sale or exchange of a partner's interest in a partnership is true?

A. Gain or loss is the difference between the amount realized and the adjusted basis of the partner's interest in the partnership.

B. The amount realized by the selling partner does not include any partnership liabilities of which the selling partner is relieved.

C. Any amount realized due to inventory items held by the partnership results in capital gain or loss.

D. The exchange of a limited partnership interest for a limited interest in another partnership is a nontaxable exchange of like-kind property.

The correct answer is 正解は、[A. Gain or loss is the difference between the amount realized and the adjusted basis of the partner's interest in the partnership.]
選択肢A：売却損益は、実現総額 (amount realized) から持分のbasisとの差額である。 → 正しい。
選択肢B：実現総額 (amount realized) には、売却によって解放された負債の額は含まない。 → 誤り（含む）。
選択肢C：棚卸資産から実現された損益はキャピタル・ゲイン／ロスとして扱う。 → 誤り。ゲインについては例外的に通常所得として扱われる。
選択肢D：パートナーシップ持分の交換は（非課税の）同種資産の交換となる。 → 誤り。

2.09.2 Distribution of Partnership Assets (2)

Question 問題、
At a time when Nedra's basis in her partnership interest was $5,000, she received a current distribution of $6,000 cash and land with an adjusted basis of $2,000 and a fair market value of $3,000. The partnership had no unrealized receivables or substantially appreciated inventory.
What is the result of this distribution to Nedra?

A. $0 gain or loss, $0 basis in land, $(1,000) basis in partnership interest.

B. $3,000 capital gain, $2,000 basis in land, $0 basis in partnership interest.

C. $1,000 ordinary income, $2,000 basis in land, $0 basis in partnership interest.

D. $1,000 capital gain, $0 basis in land, $0 basis in partnership interest.

The correct answer is 正解は、[D. $1,000 capital gain, $0 basis in land, $0 basis in partnership interest.]
現金分配額 $6,000 ＞分配前の持分のBasis $5,000 なので超過分 $1,000 についてキャピタル・ゲインを認識する。
現物資産の受領については原則通り損益を認識しない。

2.09.2 Distribution of Partnership Assets (1)

Question 問題、
The adjusted basis of Stan's partnership interest is $15,000. He receives a distribution of cash of $6,000 and property with an adjusted basis to the partnership of $11,000. (This was not a distribution in liquidation.)
What is the basis of the distributed property in Stan's hands?

A. $9,000

B. $11,000

C. $5,000

D. $17,000

The correct answer is 正解は、[A. $9,000]
パートナーはパートナーシップから分配を受領しても、原則、損益を認識しない。
（例外：現金分配額＞分配前の持分のBasis → 超過部分キャピタル・ゲイン）

2.09.3 Partners Dealing with Their Own Partnership (4)

Question 問題、
Kay Shea owns a 55% interest in the capital and profits of Admor Antiques, a partnership. In the current year, Kay sold an oriental lamp to Admor for $5,000. Kay bought this lamp 16 years ago for her personal use at a cost of $1,000 and used it continuously in her home until she sold it to Admor. Admor purchased the lamp as inventory for sale to customers in the ordinary course of business. What is Kay's reportable gain in the current year on the sale of the lamp to Admor?

A. $4,000 ordinary income.

B. $4,000 long-term capital gain.

C. $2,200 ordinary income.

D. $2,200 long-term capital gain.

The correct answer is 正解は、[A. $4,000 ordinary income.]
パートナーシップとの関係者取引において、譲渡資産が譲受者にとって資本資産ではない場合、譲渡者はそのgainを通常所得として扱わなければならない。

2.09.3 Partners Dealing with Their Own Partnership (3)

Question 問題、
Jasmine, a calendar-year taxpayer, is a partner in Jasmine and Prince Partnership that has a fiscal year ending March 31. Starting April 1, 2018, Jasmine received a fixed monthly guaranteed payment of $1,000 a month without regard to the income of the partnership.
How much of the guaranteed payment will Jasmine report on her 2018 tax return?

A. $0

B. $8,000

C. $9,000

D. $12,000

The correct answer is 正解は、[A. $0]
パートナーはパートナーシップの割り当て額を、当該パートナーシップの課税年度末を含むパートナーの課税年度に申告する。
本問では、2018年4月以降に支払われたguaranteed paymentはパートナーシップの課税年度末2019年3月31日を含むパートナーの課税年度（2019年12月31日）に申告する。

2.09.3 Partners Dealing with Their Own Partnership (2)

Question 問題、
Under the terms of a partnership agreement, William's distributive share of the partnership's income and losses is 20%. Which of the following situations reflects an incorrect method of reporting guaranteed payments?

A. William is entitled to a fixed annual payment of $15,000 without regard to the partnership's income. The partnership has $60,000 of income after deducting the guaranteed payment. Willian must include ordinary income of $27,000.

B. William is entitled to a fixed annual payment of $15,000 without regard to the partnership's income. The partnership has a $20,000 loss after deducting the guaranteed payment. William should include an ordinary loss of $1,000.

C. William is to receive 20% of the partnership income, but not less than $15,000. The partnership has net income of $76,000. William's guaranteed payment is $0.

D. William is to receive 20% of the partnership income, but not less than $15,000. The partnership has net income of $40,000. The partnership is entitled to a deduction or guaranteed payment of $7,000.

The correct answer is 正解は、[B. William is entitled to a fixed annual payment of $15,000 without regard to the partnership's income. The partnership has a $20,000 loss after deducting the guaranteed payment. William should include an ordinary loss of $1,000.]
選択肢(A) guaranteed payment $15,000 + 通常事業所得の割当額 ($60,000 x 20%) = $27,000 → 正しい
選択肢(B) 通常事業損失の割当額 ($20,000 x 20%) = $4,000 → 誤り
選択肢(C) 通常事業所得の割当額 ($76,000 x 20%) = $15,200 ＞ ミニマム・ペイメント $15,000なのでguaranteed paymentとして扱われる部分はない → 正しい
選択肢(D) ミニマム・ペイメント $15,000 - 通常事業所得の割当額 ($40,000 x 20%) = $7,000 がguaranteed paymentとして扱われるためパートナーシップは事業経費として控除可能 → 正しい

2.09.3 Partners Dealing with Their Own Partnership (1)

Question 問題、
Under a partnership agreement, June is to receive 40% of the partnership income but not less than $12,000 a year. The partnership has net income of $20,000. What is the guaranteed payment that the partnership can deduct in figuring its ordinary income on Page 1 of Form 1065?

A. $0

B. $3,200

C. $4,000

D. $8,000

The correct answer is 正解は、[C. $4,000]
ミニマム・ペイメントの取り決め（not less than $12,000）があるので、
Net income $20,000 x 40% = $8,000 → 通常事業所得の割り当て
ミニマム・ペイメント $12,000 - 割り当て分 $8,000 = $4,000 → Guaranteed payment

2.09.1 Partnership Operations and Partner's Taxable Income (7)

Question 問題、
Partnership LIFE's profits and losses are shared equally among the four partners. The adjusted basis of Partner E's interest in the partnership on December 31, Year 1, was $25,000. On January 2, Year 2, Partner E withdrew $10,000 cash. The partnership reported $200,000 as ordinary income on its Year 2 partnership return. In addition, $5,000 for qualified travel, meals, and entertainment was shown on a separate attachment to E's Schedule K-1 of Form 1065. Due to the limitation, $2,500 of the $5,000 is unallowable as a deduction. What is the amount of E's basis in the partnership on December 31, Year 2?

A. $60,000

B. $61,000

C. $65,000

D. $71,000

The correct answer is 正解は、[A. $60,000.]
= Basis $25,000 + (Income $200,000 /4) - Withdrew $10,000 - Expense $5,000
税務上控除できない項目についてもパートナーの持分は減算する。

2.09.1 Partnership Operations and Partner's Taxable Income (6)

Question 問題、
Jane and Bill are equal partners in J & B Partnership. The partnership incurred a $10,000 loss last year. Jane and Bill's adjusted basis in the partnership at the beginning of last year was $2,000 each. Under the partnership agreement, Jane and Bill share all partnership profits and losses equally. The partnership borrowed $20,000 last year to purchase depreciable equipment to be used in the partnership's business. Jane was required under the partnership agreement to pay the creditor if the partnership defaulted. Based upon these facts, what is Jane and Bill's allowable loss on last year's tax return?

A. Jane $2,000; Bill $2,000

B. Jane $5,000; Bill $2,000

C. Jane $5,000; Bill $5,000

D. Jane $10,000; Bill $0

The correct answer is 正解は、[B. Jane $5,000; Bill $2,000.]
借入$20,000に対し、パートナーシップ合意によりJaneのみが責任を負うので、Janeのbasisを$20,000増加させると、損失$10,000に対し、パス・スルー前の両者の持分はJane $22,000、Bill $2,000となる。
各パートナーが控除できる損失はパス・スルー直前の持分までなので、Billに割り当てられた損失のうち$3,000は翌年以降へ繰り越される。

2.09.1 Partnership Operations and Partner's Taxable Income (5)

Question 問題、
On January 1, 2016, Thomas contributed real estate he held for investment to Fog Partnership, a dealer in real estate. The real estate had an adjusted basis to Thomas of $50,000 and a fair market value at the time of the transfer of $43,000. On June 1, 2018, Fog sold the real estate for $40,000. What are the amount and the character of the partnership's loss?

A. $3,000 capital loss; $7,000 ordinary loss.

B. $7,000 capital loss; $3,000 ordinary loss.

C. $10,000 ordinary loss; $0 capital loss.

D. $10,000 capital loss; $0 ordinary loss.

The correct answer is 正解は、[B. $7,000 capital loss; $3,000 ordinary loss.]
現物拠出された資産を7年以内に分配または売却した場合、拠出時の含み損益を拠出したパートナーが認識しなければならない（Sec. 704 special allocation：特別配分規定）。
Basis $50,000 - FMV $43,000 = $7,000 Thomasにのみ割り当て (Thomasは投資資産として保有していたのでcapital loss）
FMV $43,000 - Sold $40,000 = $3,000 パートナー全員へ割り当て（ディーラーなのでordinary loss）

2.09.1 Partnership Operations and Partner's Taxable Income (4)

Question 問題、
Juan and Adelfo are equal partners in a music store. In 2018, they bought an amplifier for use in the store to demonstrate certain instruments. The amplifier cost $30,000. The partnership's taxable income before the Sec. 179 deduction is $25,000. What amount of Sec. 179 expense can Juan and Adelfo each deduct if neither has any other Sec. 179 deductions?

A. $0

B. $12,500

C. $30,000

D. $25,000

The correct answer is 正解は、[B. $12,500.]
= Taxable income $25,000 / 2 partners.
非関係者から購入した事業用の減価償却対象動産の取得価額は、取得年度にSec.179即費用化の選択により$1,020,000（2019年）まで即費用化できる。（選択年度に取得した動産の総額が$2,550,000（2019年）を超える場合には即費用化することができる金額が超えた$1につき$1削られる。）
なお、即費用化控除できる金額はその年度の事業活動からの課税所得が上限となる。
本問の場合、パートナーシップの事業活動からの課税所得$25,000が上限となる。（パートナーシップレベルでSec.179を適用する。）
Sec.179即費用化控除は個別記載項目となり、個別に各パートナーへパス・スルーされる。

2.09.1 Partnership Operations and Partner's Taxable Income (3)

Question 問題、
Comfy Chairs Manufacturing, Ltd. operates as a partnership and files Form 1065. Comfy manufactures inflatable lounge chairs. During the current tax year ended December 31, Comfy generated income and expenses as stated below. What is the correct amount of ordinary income (loss) from trade or business activities Comfy should report Schedule K for the current year?
- Employee wages $15,000
- Income from rental real estate $20,000
- Charitable contribution $500
- Cost of goods sold $10,000
- Income from chair sales $75,000

A. $65,000

B. $69,500

C. $50,000

D. $30,000

The correct answer is 正解は、[C. $50,000.]
= Sales $75,000 - COGS $10,000 - Wages $15,000
不動産賃貸所得、寄付金は個別記載項目なので、Ordinary Business Income/Lossには含めない。

2.09.1 Partnership Operations and Partner's Taxable Income (2)

Question 問題、
All of the following items must be separately stated on the partnership's Schedule K (Form 1065) and included as separate items on the partner's return EXCEPT

A. Ordinary gains and losses from Form 4797, Part II.

B. Gains and losses from sales or exchanges of capital assets.

C. Guaranteed payments to the partners.

D. Interest income.

The correct answer is 正解は、[A. Ordinary gains and losses from Form 4797, Part II.]
事業用資産の売却損益を計算するForm 4797 (Sales of Business Property) のうち、ordinary gain/lossは個別記載事項に含まれない。
(B) キャピタルゲイン/ロス、(C) パートナーへの保証支払額、(D) 利子所得は個別記載項目。

2.09.1 Partnership Operations and Partner's Taxable Income (1)

Question 問題、
Bridget and Brenda formed B & B Partnership in Year 1 as equal partners. They closed the business during Year 5 because it was not profitable. After the partnership closed, they had debts to pay. Because Bridget was insolvent, she paid only part of her share of the partnership's debts. Brenda was required to pay all of the remaining debts during Year 5. Which of the following statements reflects the correct treatment of the debts paid by Brenda on her tax return for Year 5?

A. She cannot deduct any of the debt she paid.

B. She can deduct only her payment of her share of the debt as a bad debt.

C. She can deduct all of the debt she paid as a bad debt.

D. She can deduct only her payment of Bridget's share of debt as a bad debt.

The correct answer is 正解は、[D. She can deduct only her payment of Bridget's share of debt as a bad debt.]
パートナーシップの負債に対し、パートナーが持分を超える返済を行った場合、超過部分は貸倒損失として控除できる。

2.08.4 Partnership Interest (2)

Question 問題、
Three individuals formed a partnership sharing in profits and losses equally.
Mr. Aardvark contributed $10,000 cash.
Mr. Baboon contributed $5,000 in cash and land worth $5,000 with an adjusted basis of $4,000.
Mr. Camel contributed machinery with a fair market value of $16,000 subject to a mortgage of $6,000, which the partnership assumed, and with an adjusted basis of $16,000.
The partnership has no other liabilities.
The adjusted basis of Mr. Baboon's interest in the partnership is

A. $5,000

B. $9,000

C. $10,000

D. $11,000

The correct answer is 正解は、[D. $11,000.]
= 現金 $5,000 + 土地（簿価） $4,000 + 引き受けた負債 $6,000 x 1/3

2.08.4 Partnership Interest (1)

Question 問題、
Ed and Bob form a partnership with contributions of $30,000 each. Bob is not a general partner. Under the partnership agreement, Ed and Bob share all partnership profits and losses equally. The partnership borrows $70,000 to purchase depreciable equipment to be used in the partnership's business. Only Ed was required under the partnership agreement to pay the creditor if the partnership defaulted.
Based upon these facts, what are Ed and Bob's basis in the partnership?

A. Ed $30,000; Bob $30,000.

B. Ed $65,000; Bob $65,000.

C. Ed $100,000; Bob $30,000.

D. Ed $100,000; Bob $100,000.

The correct answer is 正解は、[C. Ed $100,000, Bob $30,000.]
パートナーシップ合意によりEdのみが負債$70,000に対する責任を負うことになっているため、Edの持分を$70,000増加させる。

2.08.3 Contributions to a Partnership (4)

Question 問題、
Earl acquired a 20% interest in a partnership by contributing property that had an adjusted basis to him of $8,000 and that was subject to a mortgage of $12,000. Which of the following results is correct?

A. Capital Gain Recognized $1,600; Basis of Partnership interest $1,600.

B. Capital Gain Recognized $0; Basis of Partnership interest $(1,600).

C. Capital Gain Recognized $4,000; Basis of Partnership interest $8,000.

D. Capital Gain Recognized $1,600; Basis of Partnership interest $0.

The correct answer is 正解は、[D. Capital Gain Recognized $1,600, Basis of Partnership interest $0.]
負債の減少分$96,000 (= $12,000 x 80%) が、拠出した資産のbasis $8,000を超過しているため、差額$1,600についてgainを認識する。

2.08.3 Contributions to a Partnership (3)

Question 問題、
Jeffrey, the sole proprietor of a hardware business, hired Eastwood on January 1, Year 1, for an agreed salary and a promise to give him a 25% ownership interest if he were still employed at the end of 3 years, and an additional 25% interest if he continued in the business for a second 3-year period. On January 1, Year 4, a partnership was was formed and Eastwood received a 25% interest in the capital and profits of the business. On that date, the net worth of the partnership was $60,000. The partnership has no liabilities. What is Eastwood's tax basis of his partnership interest at January 1, Year 4, and what amount should be added to his gross income for Year 4?

A. Basis $0; Gross Income $0

B. Basis $15,000; Gross Income $15,000

C. Basis $30,000; Gross Income $15,000

D. Basis $30,000; Gross Income $30,000

The correct answer is 正解は、[B. Basis $15,000, Gross Income $15,000]
= $60,000 x 25%

2.08.3 Contributions to a Partnership (2)

Question 問題、
Taxpayer A contributed stock with a FMV of $10,000 and a basis of $5,000 to ABC Partnership (which would be treated as an investment company is it had been incorporated) for a 50% interest. What is the partnership's basis in the stock?

A. $0

B. $2,500

C. $5,000

D. $10,000

The correct answer is 正解は、[D. $10,000]
投資パートナーシップへの投資はgainを認識しなければならず、持分のbasisはFMV $10,000となる。

2.08.3 Contributions to a Partnership (1)

Question 問題、
Generally, no gain or loss is recognized by the partnership or a partner when the partner contributes property to the partnership, unless

A. The partnership is being formed.

B. A gain is realized on the transfer of property to a partnership that would be treated as an investment company if the partnership were incorporated.

C. The partnership is already operating.

D. Unencumbered depreciable property is contributed.

The correct answer is 正解は、[B. A gain is realized on the transfer of property to a partnership that would be treated as an investment company if the partnership were incorporated.]
投資パートナーシップへの現物拠出は例外としてgainを認識する。
負債付き資産を拠出した場合に例外的にgainを認識する場合があるが、抵当に入っていない資産 (Unencumbered property) なので損益は認識しない。

2.08.2 Filing Requirements (2)

Question 問題、
A partnership, S corporation, or personal service corporation can elect to use a tax year other than its required tax year if it

A. Elects a year that meets the deferral period requirement.

B. Is not a member of a tiered structure as defined by the regulations.

C. Has not previously had an election in effect to use a tax year other than its required tax year.

D. All of the answers are correct.

The correct answer is 正解は、[D. All of the answers are correct.]
パートナーシップ・Sコーポレーション・人的役務提供法人は、(A)(B)(C)の要件を満たした上で法定課税年度とは異なる課税年度を用いることができる。(Sec. 444)
(A) 課税の繰延期間要件 (deferral period requirement：3ヶ月）を満たしていること。
(B) 重層組織体 (tiered structure) の一員でなないこと。
(C) 過去にSec.444規定を適用していない（法定課税年度とは異なる課税年度を採用していない）こと。

2.08.2 Filing Requirements (1)

Question 問題、
Bytes, Ltd. is a partnership formed by Warren Corporation, LCL Corporation, and Mike (an individual) to build and repair personal computers. The partners' profits interest in Bytes and their respective taxable years are stated below. Assuming there is no business purpose for any particular year and no Sec. 444 election has been made, determine the partnership's required taxable year.

Partner		Profits & Capital Interests		Taxable Year End
W Corp.		25%		May 31
LCL Corp.		40%		August 31
Mike		35%		Calendar

A. Since no business purpose to establish a particular year exists, the partnership must adopt the calendar taxable year.

B. The partnership may adopt a taxable year ending either May 31 or August 31.

C. Under the required tax year rules, the partnership must adopt a taxable year ending August 31.

D. Under the required tax year rules, the partnership must adopt a calendar year.

The correct answer is 正解は、[B. The partnership may adopt a taxable year ending either May 31 or August 31.]
パートナーシップの課税年度は以下の手順で決定する。
① Majority interest：持分が1人または複数で50%超のパートナーの課税年度（一致している場合）。
② Principal partners：5%以上を所有するパートナー全員の課税年度（一致している場合）。
③ Least aggregate defferral：課税の繰り延べ金額が一番低くなる課税年度
本問では①②の課税年度が一致していないので③により決定する。

課税年度		May 31		August 31		December 31
		繰延月数 x 持分		繰延月数 x 持分		繰延月数 x 持分
W Corp.		―		9 x 25% = 2.25		5 x 25% = 1.25
LCL Corp.		3 x 40% = 1.2		―		8 x 40% = 3.2
Mike		7 x 35% = 2.45		4 x 35% = 1.4		―
		計 3.65		計 3.65		計 4.45

2.08.1 Partnership Defined (5)

Question 問題、
In determining the ownership rules of partnerships, which one of the following combinations would total more than 50% ownership of The Peach Company for Jake?

A. Jake 30%; Jake's wife 10%; Jake's aunt 60%

B. Jake 45%; His uncle's trust 55%

C. Jake 10%; Jake's wife's corporation 90%

D. Jake 30%; Jake's father 10%; Jake's nephew 60%

The correct answer is 正解は、[C. Jake 10%, Jake's wife's corporation 90%]
配偶者、兄弟姉妹、祖父母・父母・子・孫の血族が所有する持分についても間接的に所有しているとみなすが、おじおば・甥姪は含まない。

2.08.1 Partnership Defined (4)

Question 問題、
Dianne owns 10% interest in DJJ Partnership and 20% of the outstanding stock of PAD Corporation. Her son, Nick, owns 60% of the outstanding shares of PAD Corporation. The PAD Corporation owns 50% interest in the DJJ Partnership. Dianne's sister, Dolores, owns 40% interest in the DJJ Partnership. Using the constructive ownership rules for partnerships, Dianne is considered to own how much of DJJ Partnership?

A. 80%

B. 50%

C. 90%

D. 20%

The correct answer is 正解は、[C. 90%]
= Dianne 10% + (Dianne 20% + Nick 60%) x PAD Corp. 50% + Dolores 40%
配偶者、兄弟姉妹、祖父母・父母・子・孫の血族が所有する持分についても間接的に所有しているとみなす。
法人・パートナーシップ・信託により所有されている持分についても、それらに対する持分割合に応じて間接的に所有しているとみなす。

2.08.1 Partnership Defined (3)

Question 問題、
Partnership A purchased a tract of land for investment for $50,000. It immediately sold the land to Partnership B for $70,000. The fair market value of the land at the time of sale was $75,000. Betty owns 50% of Partnership A. Betty owns 30% and her mother, Irene, owns 30% of partnership B. All other partnership owners are not related to Betty, Irene, or each other. Identify the nature and the amount of gain (loss) Partnership A should properly report for tax for the year of the sale.

A. Partnership A should report a short-term capital gain of $20,000.

B. Partnership A should report an ordinary gain of $20,000 because the sale was made to a related party.

C. Partnership A may elect to defer the $20,000 capital gain on the sale of the property.

D. Partnership A should report $25,000 capital gain on the sale of the property.

The correct answer is 正解は、[A. Partnership A should report a short-term capital gain of $20,000.]
同一の者により50%超の持分が所有されているパートナーシップ間の取引は関係者間取引となる。
配偶者、兄弟姉妹、祖父母・父母・子・孫の血族が所有する持分についても間接的に所有しているとみなす。
BettyのPartnership Aの持分は50%ちょうどなので関係者間取引には該当しない。

2.08.1 Partnership Defined (2)

Question 問題、
Which of the following statements about partnership agreements is false?

A. Modifications to the partnership agreement must be agreed to by all the partners or adopted in any other manner provided by the partnership agreement.

B. The agreement or modifications can be oral or written.

C. The partnership agreement can be modified for a particular tax year after the close of the year not later than the date for filing the partnership return for that year, including extensions.

D. A partner's share of income, gains, losses, deductions, or credits is usually determined by the partnership agreement.

The correct answer is 正解は、[C. The partnership agreement can be modified for a particular tax year after the close of the year not later than the date for filing the partnership return for that year, including extensions.]
パートナーシップ合意は口頭でも書面でもかまわないが、修正や変更はパートナー全員一致の同意を必要とする。
当該課税年度に関わるパートナーシップ合意の修正や変更は、課税年度終了後も、パートナーシップの原則的な申告期限までは認められるが、延長後の期限までは認められない。

2.08.1 Partnership Defined (1)

Question 問題、
For federal tax purposes, the term "pertnership" includes all of the following EXCEPT a

A. Syndicate.

B. Pool.

C. Joint venture.

D. Trust

The correct answer is 正解は、[D. Trust]
パートナシップとは、複数の者が共同所有者として営利事業を営む社団（人の集合体）をいう。
連邦税法上は「組合 (syndicate)、グループ (group)、共同出資 (pool)、ジョイント・ベンチャー (joint venture) などの事業活動を行う団体で、法人、信託、遺産財団ではないものをパートナーシップに含む」と定義されている。

（参考）事業の形態と主な申告書番号

個人事業主（自営業者）：	Form 1040、Schedule C、Schedule F
パートナーシップ、LLC：	Form 1065
普通法人：	Form 1120
Sコーポレーション：	Form 1120S
信託、遺産財団：	Form 1041
非課税組織：	Form 990

2.07.3 Casualty and Theft Losses (2)

Question 問題、
Tom Thumb owned a greenhouse that was built on leased land. He used the greenhouse one-half for business and one-half for personal uses. In 2019, the greenhouse was totally destroyed by a hurricane and was in a federally declared disaster area. The greenhouse cost $500,000 to build, had a fair market value of $300,000, and had accumulated depreciation of $50,000 when it was destroyed. Tom received $250,000 from his insurance company in 2019 to reimburse him for the loss. Tom's adjusted gross income for 2019 is $54,000. What is the amount of Tom's deductible loss on the greenhouse for 2019?

A. 150,000

B. 144,500

C. 25,000

D. 99,500

The correct answer is 正解は、[D. 99,500]
事業用部分 $75,000 = 取得価額 $500,000/2 - 減価償却累計額 $50,000 - 保険金 $250,000/2
個人使用分 $24,500 = 時価 $300,000/2 (＜ 取得価額 $500,000/2) - 保険金 $250,000/2 - 災害1件につき $500(*)
事業用資産が全壊した場合は災害直前のbasisを、部分損壊及び個人資産の場合は時価の減少額かbasisの小さい方を損失の額とします。
(* 2018年までは災害1件につき$100とAGIの10%)

2.07.3 Casualty and Theft Losses (1)

Question 問題、
A taxpayer suffered an $11,000 loss of inventory when his cooler malfunctioned. He had no insurance for this type of loss. He shows this loss on his tax return by

A. Taking a bad debt deduction of $22,000, the amount he would have sold the inventory for.

B. Taking an ordinary loss on Form 4797 of $11,000.

C. Taking a business loss on his Schedule C as reflected by an increase of $11,000 in cost of goods sold.

D. Taking a loss of $11,000 as a bad debt on Schedule D.

The correct answer is 正解は、[C. Taking a  business loss on his Schedule C as reflected by an increase of $11,000 in cost of goods sold.]
棚卸資産に生じた偶発的な損失は売上原価に加算（期末棚卸高を減少）して控除する。
Form 4797: Sale of Business Propertyは事業用資産の売却等の計算フォーム。

2.07.2 Net Operating Loss (2)

Question 問題、
Based on the following information, compute the 2018 net operating loss (NOL) that an individual can carry over 2019.
- 2017 NOL $(15,000)
- Wages $25,000
- S corporation loss $(40,000)
- Schedule C net profit $7,000
- Interest income $500
- 2018 Standard deduction $12,000

A. $22,500

B. $8,000

C. $19,500

D. $20,000

The correct answer is 正解は、[B. $8,000]
= Taxable income (wages $25,000 - S Corp. loss $40,000 + Sch.C net profit $7,000 + interest income $500 - standard deduction $12,000) - interest income $500 + standard deduction $12,000
個人納税者の欠損金 (NOL) は、事業活動から生じた純損失であるため、投資活動等の非事業活動から生じた損益は足し戻す。
本問では2018年のNOLの計算を求められているので前年度のNOLは含まない。

2.07.2 Net Operating Loss (1)

Question 問題、
Mr. Trim sustained a net operation loss (NOL) for 2018. To what years may he carry the NOL?

A. Back 3 years; forward 5 years.

B. Back 0 years; forward indefinitely.

C. Back 5 years; forward 20 years.

D. Back 3 years; forward 15 years.

The correct answer is 正解は、[B. Back 0 years; forward indefinitely.]
2018年1月1日以降に終了する課税年度に生じたNOLは無期限繰越し可能（80%控除制限）。
2017年12月31日以前に終了する課税年度に生じたNOLは20年繰越し（控除制限なし）。

2.07.1 General Business Credit (5)

Question 問題、
Ryan runs a manufacturing business employing several people with young children. These employees require daycare as both parents work. He dicided that, in order to make it easier for his employees to come to work each day, he would allocate some of the unused space in his manufacturing facility to a childcare facility. In 2018, he incurred $20,000 in qualified childcare facility expenditures. He had no qualified childcare resource and referral expenditures and had no pass-though credits. What is Ryan's credit for 2018?

A. $20,000

B. $2,000

C. $10,000

D. $5,000

The correct answer is 正解は、[D. $5,000]
雇用主提供チャイルドケア税額控除 (employer-provided childcare credit) は年間$150,000を上限として当該費用の25%を控除可。
$20,000 x 25% = $5,000

2.07.1 General Business Credit (4)

Qestion 問題、
The F & E Pertnership spent $100,000 on eligible access expenditures that qualify for the Disabled Access Credit. The partnership had gross receipts of $1 million and 30 full-time employees during the preceding tax year. What is the amount of the Disabled Access Credit for the year 2018?

A. $5,000

B. $10,000

C. $250

D. $50,000

The correct answer is 正解は、[A. $5,000]
障がい者アクセス税額控除 (Disabled Access Credit) は前年売上100万ドル以下または従業員30人以下の小規模事業者に対し適用され、建物改造費用等の$250を超えて$10,250までのうちの50％（$10,250 - $250 = $5,000）まで控除可能。

2.07.1 General Business Credit (3)

Qestion 問題、
An employee who qualifies for the Work Opportunity Credit must be a mumber of a targeted group. All of the following are considered targeted groups EXCEPT

A. Qualified veretans.

B. Qualified relatives of the employer.

C. Qualified summer yourth employees.

D. Qualified food stamp recipients.

The correct answer is 正解は、[B. Qualified relatives of the employer.]
雇用機会税額控除 (work opportunity credit) は高失業率グループ（一定の生活保護受給者、指定地域居住者、退役軍人、経済的に困窮している若者等）から従業員を雇用した場合に適用される。
従業員の親族 (relatives of the employer) を雇用しても対象にはならない。

2.07.1 General Business Credit (2)

Question 問題、
During 2018, Archie had the following:
- Disabled Access Credit $5,000
- Business Energy Credit $400
- Net income tax $30,000
- Tentative minimum tax $15,000
What is the maximum amount of General Business Credit Archie can claim for 2018?

A. $5,400

B. $6,480

C. $7,200

D. $7,500

The correct answer is 正解は、[A. $5,400]
一般事業税額控除 (general business credit: GBC) はNet income tax から以下の大きい方を差し引いた金額を限度に控除可能。
1. 試算税額 (tentative minimum tax)
2. 通常税額の$25,000超の部分の25%

障がい者アクセス税額控除 $5,000 + エネルギー税額控除 $400 = $5,400 ＜ net income tax $30,000 - tentative minimum tax $15,000

2.07.1 General Business Credit (1)

Question 問題、
Your General Business Credit is limited to your net income tax minus

A. Your alternative minimum tax.

B. Your tentative minimum tax.

C. Your net income tax.

D. The greater of the tentative minimum tax (for individuals) or 25% of net regular tax liability above $25,000.

The correct answer is 正解は、[D. The greater of the tentative minimum tax (for individuals) or 25% of net regular tax liability above $25,000.]
一般事業税額控除 (general business credit: GBC) は複数の税額控除から構成されており、Net income tax から以下の大きい方を差し引いた金額を限度に控除可能。
1. 試算税額 (tentative minimum tax)
2. 通常税額の$25,000超の部分の25%

2.06.5 Depreciation Recapture (3)

Question 問題、
In 2013, you purchased a candy-making machine for your business. The machine cost $50,000, and you claimed a $20,000 Internal Revenue Code Section 179 deduction for that machine. In 2018, you sold the machine for $52,000. Your accumulated depreciation from 2013 through 2018 was $18,974 (not including the Section 179 deduction). How much is your taxable gain, and what portion of that gain must be reported as ordinary income under Internal Revenue Code Section 1245?

A. Taxable gain of $40,974 and ordinary income of $38,974.

B. Taxable gain of $40,974 and ordinary income of $40,974.

C. Taxable gain of $20,974 and ordinary income of $18,974.

D. Taxable gain of $2,000 and ordinary income of $2,000.

The correct answer is 正解は、[A. Taxable gain of $40,974 and ordinary income of $38,974.]
売却益 $40,974 = 売却額 $52,000 - (取得価額 $50,000 - Sec.179控除 $20,000 - 減価償却累計額 $18,974)
通常所得 (ordinary income) = 過去の償却部分 $38,974 = Sec.179控除 $20,000 + 減価償却累計額 $18,974
1年超保有の事業用の減価償却対象資産 (Sec.1231 asset) の売却益は長期キャピタル・ゲインとして扱うことができるが、減価償却対象の動産及び償却対象の無形資産 (Sec.1245 asset) についてはリキャプチャー規定が適用され、過去の償却部分までを通常所得 (ordinary income) として扱わなければならない。

2.06.5 Depreciation Recapture (2)

Question 問題、
A taxpayer acquired a rental house several years ago for $190,000. The taxpayer sold his rental house for $190,000 in May 2018. Under an accelerated method, the taxpayer's depreciation is $67,840. Under the S-L method, the taxpayer's depreciation is $64,960. How much Sec. 1250 gain did this taxpayer have classified as ordinary income when the house was sold?

A. $0

B. $2,880

C. $64,960

D. $67,840

The correct answer is 正解は、[A. $0]
1年超保有の事業用減価償却対象動産及び不動産 (Sec.1231 asset) の売却益は長期キャピタル・ゲインとして扱うことができる。
ただし、減価償却対象となる不動産 (Sec.1250 asset) に対し、加速度償却法を選択していた場合には、リキャプチャー規定が適用され、定額法 (SL) の償却額との差額を通常所得 (ordinary income) として扱わなければならない。
本問では数年前 (sevetal years ago) に購入されており、1986年以降に取得した賃貸住宅は定額法で償却されているはずなので、リキャプチャー規定は適用されない。

2.06.5 Depreciation Recapture (1)

Question 問題、
Sam files a calendar-year return. In February 2016, he purchased and placed in service for 100% use in his business a light-duty truck (5 year property) for a cost of $10,000. He used the half-year convention and figured his MACRS deductions for the truck were $2,000 in 2016 and $3,200 in 2017. He did not take the Sec. 179 deduction on it. He sold the truck in May 2018 for $7,000. The MACRS deduction in 2018, the year of sale, is $960 (2/1 of $1,920). How much of the gain will be treated as ordinary income in 2018?

A. $3,160

B. $2,200

C. $3,840

D. None of the answers are correct

The correct answer is 正解は、[A. $3,160]
トラックの減価償却累計額：2016年 $2,000 + 2017年 $3,200 + 2018年 $960 = $6,160
トラックの売却益：売却額 $7,000 - (取得価額 $10,000 - 減価償却累計額 $6,160) = $3,160
1年超保有の事業用減価償却対象動産及び不動産 (Sec.1231 asset) の売却益は長期キャピタル・ゲインとして扱うことができる。
ただし、減価償却対象の動産及び償却対象の無形資産 (Sec.1245 asset) についてはリキャプチャー規定が適用され、過去の償却部分までを通常所得 (ordinary income) として扱わなければならない。

2.06.4 Depletion (1)

Question 問題、
Which of the following would NOT qualify for a depletion deduction?

A. Gas well.

B. Timber lot.

C. Oil refinery.

D. Stone quarry.

The correct answer is 正解は、[C. Oil refinery.]
ガス田 (Gas well) 木材伐採場 (Timber lot) 採石場 (Stone quarry) は天然資源なので減耗控除の対象。
石油精製所 (Oil refinery) は石油を採掘する場所ではなく精製する場所なので通常の減価償却の対象。

2.06.3 Amortization (2)

Question 問題、
Michael James purchased a travel agency on July 1, 2018, and immediately took over the business. The purchase contract included the following items as part of the purchase price:
- Goodwill valued at $60,000.
- Workforce in place valued at $30,000.
- Trademark valued at $60,000
- Government permit valued at $30,000
What is the proper amount of Michael's Internal Revenue Code Sec. 197 amortization expense for 2018, assuming Michael is a calendar-year taxpayer?

A. $90,000

B. $30,000

C. $6,000

D. $12,000

The correct answer is 正解は、[C. $6,000]
= 営業権 $60,000 + 労働力 $30,000 + 商標 $60,000 + 許認可 $30,000) x 6/180ヶ月
無形資産は定額法により180ヶ月（15年）で償却する。
(Sec.197 intangible assets)

2.06.3 Amortization (1)

Question 問題、
Jeanne incurred start-up costs for her new business, which opened October 1, 2018. The costs were for advertising of $1,000, a market analysis survey of $2,500, employee training costs of $6,000, and travel costs for securing prospective distributions of $2,500. What is the maximum amount of the amortizable costs that may be deducted in 2018?

A. $12,000

B. $5,000

C. $5,117

D. $800

The correct answer is 正解は、[C. $5,117]
= (広告宣伝費 $1,000 + 市場調査費 $2,500 + 教育訓練費 $6,000 + 見込流通先確保のための旅費 $2,500 - 即費用化 $5,000) x 3/180ヶ月 + 即費用控除 $5,000
創立費及び新規事業開拓費は初年度にそれぞれ$5,000まで即費用化控除が選択可。
（それぞれの総額が$50,000超の場合は超えた分だけ控除枠が削られる。）
即費用化後の残りは資産計上し、事業開始月より180ヶ月以上で定額償却。

2.06.2 Sec. 179 Expense (3)

Question 問題、
On January 15, 2019, Amber purchased a car for $20,000. She used the car 75% for business during 2019. What is the maximum Sec. 179 deduction and depreciation Amber may elect to claim on her income tax return for 2019, assuming she forgoes additional first-year depreciation?

A. $7,575

B. $10,100

C. $15,000

D. $20,000

The correct answer is 正解は、[A. $7,575]
旅客用車輛などの指定資産 (listed property) については、事業使用割合が50%超の場合に限り、事業使用部分についてMACRSによる通常償却及びSec.179即費用化の選択が認められる。
旅客車両 (passenger automobile) については減価償却控除額に上限が設けられており、1年目の控除額は$10,100（2019年）が上限、今回、事業使用割合が75%なので $10,100 x 75% = $7,575となる。

2.06.2 Sec. 179 Expense (2)

Question 問題、
In 2019, Mary Jane placed in service a machine that cost $3,180,000. If she placed no other Sec. 179 property in service during the year and forgoes additional first-year depreciation, how much is her Sec. 179 maximum dollar limit?

A. $510,000

B. $1,000,000

C. $0

D. $390,000

The correct answer is 正解は、[D. $390,000]
= $1,020,000 - ($3,180,000 - $2,550,000)
非関係者から購入した事業用の減価償却対象動産の取得価額は、取得年度にSec.179即費用化の選択により$1,020,000（2019年）まで即費用化できるが、取得した動産の総額が$2,550,000（2019年）を超える場合には即費用化することができる金額が超えた$1につき$1削られる。

2.06.2 Sec. 179 Expense (1)

Question 問題、
In 2019, Judy placed in service a machine that cost $1,582,000. If she placed no other Sec. 179 property in service during the year, how much is her Sec. 179 maximum dollar limit?

A. $510,000

B. $582,000

C. $1,020,000

D. $1,582,000

The correct answer is 正解は、[C. $1,020,000]
非関係者から購入した事業用の減価償却対象動産の取得価額は、取得年度にSec.179即費用化の選択により$1,020,000（2019年）まで即費用化できる。
ただし、選択年度に取得した動産の総額が$2,550,000（2019年）を超える場合には即費用化することができる金額が超えた$1につき$1削られる。

2.06.1 Depreciation Methods (4)

Question 問題、
Burt bought a 2019 BMW 525i for $64,000 on March 2, 2019. He will use the automobile 100% of the time in his business. The recovery period for passenger autos is 5 years. Burt elected out of additional first-year depreciation. What is Burt's depreciation for the year 2019?

A. $12,800

B. $10,100

C. $2,800

D. $640

The correct answer is 正解は、[B. $10,100]
車両の償却年数は5年だが、旅客車両 (passenger automobile) については減価償却控除額に上限が設けられており、1年目の控除額は$10,100（2019年）が上限になる。
2017年9月28日～2022年12月31日までに取得かつ使用開始した適格資産については初年度特別償却 (bonus depreciation) により初年度に取得価額の100%を償却できるが、本問では適用していない。

2.06.1 Depreciation Methods (3)

Question 問題、
During 2019, Danny, a calendar-year taxpayer, acquired and placed in service the following business assets:
- January: Delivery trucks $35,000
- March: Manufacturing equipment $100,000
- June: Computer system $30,000
- October: Office building $100,000
- December: Office equipment $45,000
Which convention(s) is(are) used to figure Danny's depreciation for 2019?

A. Mid-quarter for all assets except the office building, which uses mid-month.

B. Half-year for all of the assets.

C. Mid-quarter for all of the assets.

D. Half-year for all assets except the office building, which uses mid-month.

The correct answer is 正解は、[D. Half-year for all assets except the office building, which uses mid-month.]
不動産 (building) 以外の動産に関しては、第4四半期に40%超を使用開始した場合のみMid-quarter concentionを用いる。
(トラック $35,000 + 製造設備 $100,000 + コンピュータ $30,000 + 事務備品 $45,000) x 40% = $84,000 ＞ 第4四半期（12月）使用開始分 $45,000

2.06.1 Depreciation Methods (2)

Question 問題、
Pat Snow bought a truck weighing 8,000 lbs. She uses the truck to make deliveries in her candy business. She bought the truck on July 1, 2018, at a cost of $25,000. What is the first year's depreciation under the MACRS rules using the following table?

Year		3-year		5-year		7-year		10-year
1		33.33%		20.00%		14.29%		10.00%
2		44.45%		32.00%		24.49%		18.00%

A. $10,000

B. $5,000

C. $3,573

D. $2,500

The correct answer is 正解は、[B. $5,000]
トラック（車両）の償却年数は5年なので、償却率表より$25,000 x 20% = $5,000

2.06.1 Depreciation Methods (1)

Question 問題、
In order to determine the MACRS deduction using the percentage tables, all of the following must be determined EXCEPT

A. The basis of the property.

B. The recovery period.

C. The declining balance rate.

D. The placed-in-service date.

The correct answer is 正解は、[C. The declining balance rate.]
実務的には、償却率表 (MACRS Percentage Table) を使用するため、償却率を計算する必要はありません。

2.05.5 Involuntary Conversions (1)

Question 問題、
A tornado destroyed Ian's forklift in 2018. Ian had purchased the forklift for $8,000 and had correctly deducted $6,000 of depreciation. Ian's adjusted basis in the forklift was $2,000. Ian's insurance company reimbursed him $9,000, and he spent $7,500 for a new forklift. How much ordinary income should Ian report on his 2018 income tax return?

A. $0

B. $1,500

C. $6,000

D. $7,000

The correct answer is 正解は、[B. $1,500]
= 保険金 $9,000 - 代替資産の取得価額 $7,500
収用や自然災害により強制的に資産を失い、保険金や補償金を受領した場合のGainは、代替資産の取得を条件に認識は繰り延べられる。ただし、受領した金額が代替資産の取得価額より大きい場合、その差額まではGainを認識しなければならない。

2.05.4 Like-Kind Exchange (6)

Question 問題、
Mike and Joe are equal partners in the Dandy Partnership. On January 1, 2018, the partnership, in a like-kind exchange, exchanged a building (adjusted basis $150,000) used for business for another building (adjusted basis $150,000) used for business. The new building had a mortgage of $25,000, which Dandy assumed, and unpaid real estate taxes of $2,600, which Dandy paid but was not reimbursed. What is the adjusted basis of the new building and what is the amount of depreciation assuming a 20-year life under the straight-line method?

A. Adjusted Basis $150,000; Depreciation $7,500

B. Adjusted Basis $152,600; Depreciation $7,630

C. Adjusted Basis $175,000; Depreciation $8,750

D. Adjusted Basis $177,600; Depreciation $8,880

The corrected answer is 正解は、[D. Adjusted Basis $177,600, Depreciation $8,880]
同種資産の交換において交換差金 (boot) を渡したケースに該当するので損益は認識しない。
新資産のbasis $177,600 = 旧資産 $150,000 + 引き受けた負債 $25,000 + 固定資産税 $2,600
減価償却費 $8,880 = Basis $177,600 / 20年定額法

2.05.4 Like-Kind Exchange (5)

Question 問題、
The Andee Partnership traded its farm land with an adjusted basis of $10,000 for barren land with a fair market value of $15,000. Andee also received $3,500 cash on the trade. What is the gain, if any, on this trade?

A. $0

B. $3,500

C. $5,000

D. $1,500

The correct answer is 正解は、[B. $3,500]
同種資産の交換において交換差金 (boot) を受領した場合、交換差金のFMVかrealized gainの小さい方まで収益を認識する。
新資産FMV $15,000 + boot $3,500 - 旧資産 $10,000 = realized gain $8,500 ＞ boot $3,500
（参考）新資産のbasisは$10,000（旧資産 $10,000 - boot $3,500 + 収益認識 $3,500）。

2.05.4 Like-Kind Exchange (4)

Question 問題、
Sylvester owns farm machinery that has a fair market value of $157,000 and an adjusted basis of $90,000. The farm machinery is subject to a liability of $47,000. Dorene would like to purchase Sylvester's farm machinery and makes the following offer:
- Cash -- $15,000
- Assumption of Sylvester's liability
- Farmland owned by Dorene having a fair market value of $95,000; the land is not encumbered by any liabilities
What is the amount of Sylvester's recognized gain if he accepts Dorene's offer?

A. $15,000

B. $20,000

C. $62,000

D. $67,000

The correct answer is 正解は、[D. $67,000]
= 現金 $15,000 + 負債の引受け $47,000 + 農地のFMV $95,000 - 農機具のbasis $90,000
農機具（動産）と農地（不動産）の交換のため、同種資産の交換とはならない。
通常の交換取引で取得した新資産のbasisはその資産のFMV。

2.05.4 Like-Kind Exchange (3)

Question 問題、
Nelson, Inc., owned a manufacturing building with a fair market value of $95,000 and an adjusted basis of $75,000. Nelson, Inc., entered into an agreement to exchange the manufacturing building for a warehouse with an adjusted basis of $80,000 and a fair market value of $90,000 with Roberts Corporation. In addition, Nelson, Inc., would pay Roberts Corporation $5,000 in cash. Nelson, Inc., also incurred and paid attorney and deed preparation fees of $5,000 on this exchange. What is Nelson's basis in the warehouse it received in this like-kind exchange?

A. $85,000

B. $90,000

C. $95,000

D. $100,000

The correct answer is 正解は、[A. $85,000]
= 旧資産のbasis $75,000 + boot (Cash $5,000 + Expenses $5,000)
同種資産の交換において交換差金 (boot) を渡したケースに該当するので損益は繰越される。
交換において支払った付随費用（証書作成手数料）も加算する。

2.05.4 Like-Kind Exchange (2)

Question 問題、
David owned a warehouse, which he used in his business for the past 2 years. Its adjusted basis was $13,500. David sells his warehouse to a dealer for $14,500. He then buys a new warehouse for $20,500 from the same dealer. What is David's basis in the newly acquired warehouse?

A. $13,500

B. $14,500

C. $19,500

D. $20,500

The correct answer is 正解は、[C. $19,500]
= 旧資産のbasis $13,500 + boot ($20,500 - $14,500)
同種資産の交換において交換差金 (boot) を渡したケースに該当するので損益は認識しない。

2.05.4 Like-Kind Exchange (1)

Question 問題、
Which of the following transactions qualifies as a like-kind exchange?

A. The exchange of a copyright on a novel for a copyright on a song.

B. An exchange of the "goodwill or going concern value" of a business for the "goodwill or going concern value" of another business.

C. An exchange of land improved with an apartment house for land improved with a store building.

D. An exchange of personal property used predominantly in the United States for personal property used predominantly outside the United States.

The correct answer is 正解は、[C. An exchange of land improved with an apartment house for land improved with a store building.]
同種資産の交換として認められるのは、米国内の不動産同士の交換のみ。（2018年度申告より）
著作権 (copyright) 、営業権 (goodwill) 、継続企業価値 (going concern value) は無形資産。

2.05.3 Small Business Stock (1)

Question 問題、
Frank files a joint return with his wife, Rose. Frank incurred a loss of $125,000 on the sale of his qualifying small business stock (Sec. 1244) in 2018. How much of this loss is deductible on their joint return as an ordinary loss?

A. $125,000

B. $3,000

C. $100,000

D. $50,000

The correct answer is 正解は、[C. $100,000]
適格中小企業株式の売却等により生じた損失は$50,000 (MFJ $100,000) を限度に通常損失 (ordinary loss) として控除可能。
（特例）個人の納税者が5年超保有している中小企業株式による損失は100%をGIから控除可能。 (Sec.1202)

2.05.2 Adjustment to Basis (2)

Question 問題、
In Year 1, Mr. Mason contracted for the construction of a building for use in his business. The costs that he incurred were as follows:
- Land $30,000
- Labor and material for construction of building $80,000
- Architect's fees $12,000
- Building permit fees $4,000
In Year 2, Mr. Mason had a casualty loss of $5,000 on this building, which was not covered by insurance. He claimed the loss as a deduction. Total depreciation claimed on the building through the end of Year 3 was $3,500. What is Mr. Mason's basis in the building on December 31, Year 3?

A. $83,500

B. $87,500

C. $92,500

D. $96,000

The correct answer is 正解は、[B. $87,500]
= 建物の取得価額 ($80,000 + $12,000 + $4,000) - 災害損失控除 $5,000 - 減価償却累計額 $3,500
土地の取得価額 $30,000は含まない。
（事業用資産の災害損失控除は、個人用資産と違い大災害地域に限定されず控除制限もなし。）

2.05.2 Adjustment to Basis (1)

Question 問題、
All of the following items decrease the basis of property EXCEPT

A. Casualty or theft loss deductions and insurance reimbursements.

B. The cost of defending and perfecting a title.

C. Section 179 deduction.

D. The exclusion from income of subsidies for energy conservation measures.

The correct answer is 正解は、[B. The cost of defending and perfecting a title.]
所有権移転費用 (title cost) はbasisに加算。
省エネ対策補助金 (subsidies for energy conservation measures) は所得税が免税されるが免税分はbasisから減算。

2.05.1 Basis (6)

Question 問題、
In December of Year 1, Mr. Smith purchased a manufacturing plant for $92,600. The cost was allocated as follows:
- Land (20%) $18,520
- Building (80%) $74,080
The following items relating to the property occurred before the property was placed in service on January 1, Year 2:
- Building remodeling expenses $15,000
- Storm damage (casualty loss) to building $9,000
- Easement granted for right-of-way $2,500
- Legal fees for perfecting title paid $3,600
What is the adjusted basis of the building and land on January 1, Year 2?

A. Building $81,180; Land $18,520.

B. Building $82,960; Land $16,740.

C. Building $92,680; Land $16,020.

D. Building $80,080; Land $19,240.

The correct answer is 正解は、[B. Building $82,960, Land $16,740.]
建物 $82,960 = 取得価額 $74,080 + 改良工事 $15,000 - 災害損失控除 $9,000 + 法的費用 ($3,600 x 80%)
土地 $16,740 = 取得価額 $18,520 - 地益権 $2,500 + 法的費用 ($3,600 x 20%)
地益権 (easement) を付与した (granted) 場合はbasisから減算する。

2.05.1 Basis (5)

Question 問題、
John purchased a new gasoline-electric hybrid automobile on July 2, 2010, for $18,000. He also claimed a $2,000 clean-fuel vehicle deduction on his 2010 tax return for that vehicle. From 2010 through 2017, John used this automobile only for personal purposes.
On January 1, 2018, he began using the hybrid automobile exclusively for business purposes. The fiar market value of the automobile on that day was $17,000. What is the automobile's depreciable basis as of January 1, 2018?

A. $15,000

B. $16,000

C. $17,000

D. $18,000

The correct answer is 正解は、[B. $16,000]
個人用資産を事業用に用途変更した場合、変更後のbasisは変更日のadjusted basisとFMVのいずれか小さい方。
取得価額 $18k - エコカー控除 $2k = Adjusted basis $16k ＜ FMV $17k

2.05.1 Basis (4)

Question 問題、
George purchased a business on May 31 of the current year for a lump sum price of $1,400,000. The values of the assets on the seller's books were as follows:

		Book Value		Fair Market Value
Cash		$200,000		$200,000
Land		150,000		150,000
Building		300,000		450,000
Equipment		250,000		300,000
Covenant not to compete		0		100,000

George did not assume any loans,. What is his basis for goodwill and the equipment?

A. Goodwill $0; Equipment $300,000

B. Goodwill $200,000; Equipment $300,000

C. Goodwill $200,000; Equipment $350,000

D. Goodwill $0; Equipment $350,000

The correct answer is 正解は、[B. Goodwill $200,000, Equipment $300,000]
営業権 $200k = 取得価額 $1,400k - 現金 $200k - 土地 $150k - 建物 $450k - 設備 $300 - 競業避止契約 $100

2.05.1 Basis (3)

Question 問題、
Setting Sun Partnership purchased a business, Family Dry Cleaners, for $750,000. The acquired Family Dry Cleaners assets consisted of the following:
- $50,000 in cash.
- Equipment with a fair market value of $200,000, and
- Land and building with a fair market value of $450,000
For real estate tax purposes, the city assessed the value of the land at $100,000 and the building at $200,000. The buyer and seller did not enter into an allocation agreement for this transaction. What basis must Setting Sun Partnership use for the land, building, and intangible asset "goodwill"?

A. Land, $100,000; building, $200,000; and goodwill, $150,000.

B. Land, $150,000; building, $300,000; and goodwill, $0.

C. Land, $150,000; building, $300,000; and goodwill, $50,000.

D. Land, $100,000; building, $350,000; and goodwill, $50,000.

The correct answer is 正解は、[C. Land, $150,000; building, $300,000; and goodwill, $50,000.]
営業権 (goodwill) $50k = 取得価額 $750k - 現金 $50k - 設備 $200k - 土地建物 $450k
土地と建物は合計$450kを固定資産税の評価額（土地$100k、建物$200k）で按分。

2.05.1 Basis (2)

Question 問題、
Larry purchased an office building and land on February 1 of the current year for $1,000,000. No liabilities were assumed. The assessed value of the assets for real estate purposes at the time of the purchase were as follows:
- Land $300,000
- Building $500,000
What is the basis of the building?

A. $500,000

B. $600,000

C. $625,000

D. $700,000

The correct answer is 正解は、[C. $625,000]
= 全体の取得価額 $1,000k x 建物のFMV $500k / 全体のFMV $800k

2.05.1 Basis (1)

Question 問題、
Arthur is a proprietor of Arthur's Pizza Emporium. He bought a commercial building several years ago. He made a down payment of $20,000 in cash and assumed a mortgage for $100,000. After he paid off the mortgage, Arthur later sold the building for $180,000. Straight-line depreciation taken up to the date of sale was $18,000. What is the total gain on the sale?

A. $78,000

B. $80,000

C. $60,000

D. $16,000

The correct answer is 正解は、[A. $78,000]
= $180,000 - 簿価 $102,000 (= 取得原価 (頭金 $20,000 + ローン $100,000) - 減価償却累計額 $18,000)

2.04.9 Qualified Business Income (1)

Question 問題、
Which of the following items are including in qualified business income (QBI)?

A. Pre-2018 previously disallowed losses or deductions that are allowed in the current year.

B. Allocable losses associated with a qualified trade or business.

C. Short-term capital losses.

D. Guaranteed payments paid for services rendered with respect to a qualified trade or business.

The correct answer is 正解は、[B. Allocable losses associated with a qualified trade or business.]
2018年度申告より、国内適格事業所得 (QBI) の20%が控除可能。
適格事業所得 (QBI) とは、自営業者の事業所得やPertnership、S Corp等からパス・スルーされた通常事業所得 (Ordinary business income) をいう。
給与、パートナーが受領するGuaranteed payment、利息配当、キャピタル・ゲイン等は含まれない。

2.04.6 Other Business Expenses (1)

Question 問題、
Mr. R is a self-employed over-the-road trucker who use the cash method of accounting. Which one of the following expenses paid during the current year would be deductible on Mr. R's Schedule C?

A. Penalty for late delivery of cargo paid to Corporation V.

B. Fine for speeding in business truck paid to City A.

C. Overweight fine paid to State B.

D. Contribution to Bull Moose political party in an attempt to receive a trucking contract.

The correct answer is 正解は、[A. Penalty for late delivery of cargo paid to Corporation V.]
違反による罰金（fine）や政治献金（political contribution）は控除することができません。
取引先に対する違約金は事業経費として控除可能。

2.04.5 Business Gifts (2)

Question 問題、
Vernice owns and operates her own business, Company V, as a sole proprietorship. During the current year, she gave the following gifts to business clients:
- 10 desk sets imprinted with her company's name valued at $4 each to Company B $40
- 10 bottles of wine valued at $25 each to Company C $250
- 10 floral arrangements at a cost of $40 each to Company C $400
- 10 watches imprinted with her company's name to Company D $250
What is the amount of business gifts Vernice can deduct for the current year?

A. $75

B. $90

C. $115

D. $940

The correct answer is 正解は、[B. $90]
= $40 (10 desk sets) + $25 (C社) + $25 (D社)
1個あたり$4以下の販促品は1人年間$25の控除制限を受けません。

2.04.5 Business Gifts (1)

Question 問題、
William Roberts sells products to unrelated XYZ Corporation. He gave XYZ five cheese packages to thank them for their business. Mr. Roberts paid $100 for each package for a total of $500. Five of the XYZ Corporation executives took the packages home. How much can William deduct for the gifts?

A. $125

B. $500

C. $0

D. $250

The Correct answer is 正解は、[A. $125]
事業上の贈答品は受領者1人につき年間$25まで控除可能。
受領者は5人のため、$25 x 5人 = $125 まで控除可能。

2.04.4 Bad Debts (2)

Question 問題
Landon, a sole proprietor, made the following loans in the current year. Two loans were closely related to his business operation, and the other two were personal.

To		Loan Amount		Loan Type		Unrecoverable Dept Written Off Landon's Books in Current Year
A		$2,000		Nonbusiness		$1,000
B		$1,000		Nonbusiness		$1,000
C		$3,000		Business		$1,000
D		$5,000		Business		$2,000

The unpaid balance of each loan that is not recoverable has been written off. What is the total maximum tax deduction Landon can take for business and nonbusiness worthless debt in the current year?

A. $2,000

B. $3,000

C. $4,000

D. $5,000

The correct answer is 正解は、[C. $4,000]
非事業上の貸倒損失は全額回収不可能になるまで控除できません。（Aは控除できない。）

2.04.4 Bad Debts (1)

Question 問題
Ms. R lent her sister money to buy a new personal-use automobile. The understanding was that the loan was to be repaid. The debt was subsequently forgiven since Ms. R's sister could not repay the debt. This is an example of

A. A business bad debt.

B. A nonbusiness bad debt.

C. A gift.

D. A specific charge-off.

The correct answer is 正解は、[C. A gift.]
家族や友人への貸付金を自ら債権放棄した場合には、通常、贈与とみなされます。

2.04.3 Insurance Expenses (3)

Question 問題
Drew, a cash-basis, calendar-year taxpayer, runs an auto repair shop and has a self-employed insurance plan. His wife, Sherry, works for an employer who started health insurance coverage for Sherry and Drew on August 1, 2018. Drew's net profit, before health insurance, was $50,000. Drew paid $500 a month for all 12 months in 2018 for his health insurance plan because of pre-existing illnesses. Drew and Sherry file a joint return. What is the amount of their deduction for self-employed health insurance for 2018?

A. $6,000

B. $3,500

C. $2,450

D. $0

The correct answer is 正解は、[B. $3,500]
= $500 x 7ヶ月（1～7月）
自営業者は自身、配偶者または扶養家族の医療保険料をAGIの上で全額控除できるが、納税者自身または配偶者の勤務先企業が健康保険に加入する資格を得た月から控除できなくなります。

2.04.3 Insurance Expenses (2)

Question 問題
John owned a small advertising company, the operations of which he included on Schedule C of his current-year individual income tax return. What type of insurance may John NOT deduct on his current-year return?

A. Fire, theft, and flood insurance.

B. Employer's liability insurance.

C. Loss of earnings due to sickness or disability.

D. Overhead insurance, which pays John's overhead expenses in the event of his long period of disability caused by his sickness or injury.

The correct answer is 正解は、[C. Loss of earnings due to sickness or disability.]
自営業者自身の病気等による所得補償保険（loss of earnings insurance）は事業経費として控除できません。
事業間接費保険（overhead insurance：経営者が就業不能となっている期間の間接費（従業員の給与、賃借料等）を補償する保険）は事業経費として控除可能。

2.04.3 Insurance Expenses (1)

Question 問題
You operate a business and file your tax return on a calendar-year basis. You bought a fire insurance policy on your building effective November 1, Year 1, and paid a premium of $1,200 for 2 years of coverage. How much can you deduct on your Year 1 return?

A. $1,200

B. $600

C. $100

D. $50

The correct answer is 正解は、[C. $100]
= $1,200 / 24ヶ月 x 2ヶ月（11～12月）
前払保険料は会計主義にかかわりなく原則期間配分しなければなりません。

2.04.2 Travel Expenses (2)

Question 問題
You usually work and live in Springfield, but in March of the current year, you are assigned to a job in Indianapolis for an indefinite 不確定な period of time. How much, if any, of the following monthly expenses can you take as an expense on your current-year tax return?
- Rent $2,500
- Meals $500
- Travel: round-trip airfare to go home each weekend $150

A. $2,650

B. $0

C. $2,750

D. $2,900

The correct answer is 正解は、[B. $0]
不確定な期限、つまり無期限の異動なのですべて出張旅費とはなりません。
1年以下の一時的な異動の場合、旅費は事業経費として控除できます。

2.04.2 Travel Expenses (1)

Question 問題
With regard to deductible travel expenses when attending a convention, 会議に出席する際 all of the following statements are correct EXCEPT:

A. If you can show that your attendance benefits your trade or business, you can deduct your travel expenses if the expenses are reasonable.

B. You cannot deduct expenses for attending a convention, seminar, or similar meeting held outside of the U.S. area unless the meeting is related to your trade or business.

C. If you establish that a meeting held on a cruise ship is directly related to your trade or business, you may be able to deduct expenses of up to $2,000 per trip.

D. The fact that an attending individual uses vacation time does not necessarily 必ずしも negate 無効にする the deduction.

The correct answer is 正解は、[C. If you establish that a meeting held on a cruise ship is directly related to your trade or business, you may be able to deduct expenses of up to $2,000 per trip.]
クルーズ船での会議の旅費は、旅程ごとではなく、年間$2,000が上限となります。
（選択肢 D：出張中に休暇を取ったとしても必ずしも控除が否認されるとは限りません。）

2.04.1 Business Meals Expense (2)

Question 問題
Ms. Patel, a self-employed attorney, is a member of Executive Club, which is a professional business persons' club. Mr. Patel uses the club on a regular basis to entertain clients. Ms. Patel had the following detailed records to substantiate 実証する the expenses of Executive Club during the current year:
- Dues: $2,400
- Meals directly related to bona fide 正真正銘の business discussions with clients: $2,000
- Tips: $400
- Transportation to/from meals: $300
What amount may Ms. Patel deduct on her income tax return for the current year?

A. $5,100

B. $2,600

C. $1,700

D. $1,500

The correct answer is 正解は、[D. $1,500]
= 飲食費（$2,000 + $400）x 50％ + 交通費 $300
エグゼクティブ・クラブの会費は控除不可。

2.04.1 Business Meals Expense (1)

Question 問題
With regard to the directly related test for business meals, which of the following statements is false?

A. If the meal takes place in a clear business setting and is for the taxpayer's business, the expenses are considered directly related.

B. It is necessary to devote 費やす more time to business than to eating during the meal period.

C. The taxpayer is required to show that business income or some other business benefit resulted from each meal expense.

D. A restaurant owner providing an occasional 時折り free meal to a legal customer qualifies 見なされる as directly related.

The correct answer is 正解は、[C. The taxpayer is required to show that business income or some other business benefit resulted from each meal expense.]
飲食による実際の効果を証明する必要はありません。

2.03.5 Taxes (2)

Question 問題
Rudy, a plumber, 配管工 paid the following taxes: $800 on the purchase of a new truck, $1,500 for the current year's property tax, $150 sales tax on miscellaneous office supplies, $600 sales tax on merchandise he purchased for resale. How much can he deduct as a current business expense for tax purposes?

A. $150

B. $1,650

C. $2,250

D. $3,050

The correct answer is 正解は、[B. $1,650]
= $1,500 + $150
自動車取得税と棚卸資産の仕入に係る売上税は、資産計上されます。

2.03.5 Taxes (1)

Question 問題
During 2018, Ms. Smith had the following expenditures relating to commercial real estate she owns:
- County property tax, $1,975
- State property tax, $980
- Assessment for sewer construction, 下水道建設賦課税 $1,500
- Charges for sewer and water service, $810
What is the amount Ms. Smith may deduct as real estate taxes on her commercial real estate for 2018?

A. $2,955

B. $4,455

C. $3,765

D. $5,265

The correct answer is 正解は、[A. $2,955]
= $1,975 + $980 + $810
特別賦課税（special assessment tax）は不動産のbasisに加算し、費用として控除することはできない。

2.03.4 Rent Expense (2)

Question 問題
In 2018, Charlie purchased a lease on an office building for 4 years, beginning January 1. Charlie paid $27,000 in advance rent, of which $3,000 was for the purchase of the existing lease. The remaining was for monthly lease payment. How much can Charlie deduct for 2018?

A. $6,750

B. $0

C. $3,000

D. $9,000

The correct answer is 正解は、[A. $6,750]
= $27,000 / 4年

2.03.4 Rent Expense (1)

Question 問題
Wilma Smith leased a building for 4 years beginning in March of the current year for $1,500 per month. On March 1 of the current year, Mrs. Smith paid her landlord 家主に $33,000 in rent. How much can she deduct on her current-year tax return?

A. $33,000

B. $18,000

C. $0

D. $15,000

The correct answer is 正解は、[D. $15,000]
= $15,000 x 10ヶ月（3～12月）
前払費用は会計主義にかかわなく、原則期間配分しなければなりません。

2.03.3 Interest Expense (1)

Question 問題
On June 30, 2018, Sally who uses the cash method of accounting, borrowed $25,000 from a bank for use in her business. Sally was to repay the loan in one payment with $2,000 interest on December 30, 2018. On December 30, 2018, she renewed that loan plus the interest due. The new loan was for $27,000. What is the amount of interest expense that Sally can deduct for 2018?

A. $0

B. $333

C. $1,000

D. $2,000

The correct answer is 正解は、[A. $0]
利息を含む既存の借入金の返済のために同一の貸主から借り入れを行った場合、既存の借入金に係る利息は控除することができません。

2.03.2 Cost of Goods Sold (2)

Question 問題
XYZ Corporation, a clothing retailer, showed the following expenses in 2018:
Clothing purchased for resale -- $72,000
Freight-in -- $3,550
Freight out to customers -- $1,750
Beginning inventory -- $55,650
Ending inventory -- $42,500
What is XYZ's cost of goods sold?

A. $88,700

B. $175,450

C. $90,450

D. $86,900

The correct answer is 正解は、[A. $88,700]
= $72,000 + $3,550 + $55,650 - $42,500
"Freight-in"は仕入金額に加算しますが"Freight out"は販売費及び一般管理費として処理します。

2.03.2 Cost of Goods Sold (1)

Question 問題
The FX Partnership manufactures garden hoses for sale. In the month of January, its sales were $80,000. During that month, the partnership had:
  Beginning inventory, January 1 -- $0
  Raw materials purchased January 1 -- $35,000
  Raw materials shipping costs -- $1,585
  Direct labor (production) -- $27,000
  Factory overhead -- $6,000
  Ending inventory, January 31 -- $10,000
What is the cost of goods sold for the FX Partnership for the month of January?

A. $58,000

B. $59,585

C. $69,585

D. $53,585

The correct answer is 正解は、[B. $59,585]
= $35,000 + $1,585 + $27,000 + $6,000 - $10,000

2.03.1 Compensation (6)

Question 問題
Which of the following fringe benefits cannot be excluded from an employee's income?

A. Transportation up to $260 per month for combined commuter highway vehicle transportation and transit passes, and $260 per month for qualified parking.

B. Holiday gifts, other than cash, with a low fair market value.

C. Qualified employee discounts given employees on certain property and services offered to customers in the ordinary course of the line of business in which the employees perform services.

D. Memberships in municipal athletic facilities 公営運動施設 for employees, their spouses, and their dependent children.

The correct answer is 正解は、[D. Memberships in municipal athletic facilities for employees, their spouses, and their dependent children.]
事業所内の運動施設の使用は非課税となりますが、公営施設の会費は非課税とはなりません。
参考：Qualified transportaionは2018年は$260まで、2019年は$265まで非課税。

2.03.1 Compensation (5)

Question 問題
Which of the following fringe benefits is NOT excludable from an employee's wages?

A. Qualifying adoption expenses of $13,810 provided through an adoption assistance program.

B. Educational assistance expenses of $5,250 provided through an educational assistance program.

C. $60,000 of group term life insurance covering the death of an employee.

D. Dependent care assistance of $5,000 provided through a dependent care assistance program.

The correct answer is 正解は、[C. $60,000 of group term life insurance covering the death of an employee.]
団体生命保険料の、$50,000を超える保険金に対応する部分は課税対象となります。
参考：Qualifying adoption expenseは2018年は$13,818、2019年は$14,080まで非課税。

2.03.1 Compensation (4)

Question 問題
Ellie operates a restaurant business and Joyce works as a waitress only Monday through Friday from 7 a.m. to 4 p.m. Ellie provides Joyce with a free breakfast and lunch each day, including Saturday and Sunday. Ellie values the breakfast at $5 a day and lunch at $7 a day. How much should Ellie add to Joyce's weekly paycheck for meals that she ate?

A. $0

B. $24

C. $60

D. $84

The correct answer is 正解は、[B. $24]
雇用主から無償で提供される食事は、事業所内で業務上の理由によるもののみ非課税の福利厚生費となる。よって、勤務日以外の食事（土日分）は給与賃金として課税対象となります。

2.03.1 Compensation (3)

Question 問題
Allyn transferred office equipment used in his business to Wilson, an employee, as payment for services. At the time of the transfer, the equipment had a fair market value of $4,000 and an adjusted basis to Allyn of $4,750. how should Allyn report this transfer on his income tax return?

A. Wage expense $4,750; loss on sale $0

B. Wage expense $4,000; loss on sale $750

C. Wage expense $4,000; loss on sale $0

D. Wage expense $0; loss on sale $4,750

The correct answer is 正解は、[B. Wage expense $4,000; loss on sale $750]
現物給与は支払日におけるそのFMVを給与賃金し、FMVとbasisの差額は譲渡損益として認識する。

2.03.1 Compensation (2)

Question 問題
Mr. Holiday is a calendar-year, accrual-basis taxpayer. His records concerning vacation pay for his employees reflect 反映する the following:
- $20,000 paid January 30, 2018, for vacations earned in 2017. Nothing was vested 付与されていない by December 31, 2017.
- $100,000 vacation pay accrued and paid in 2018.
- $14,000 accrued in 2018 but vested by December 31, 2018; paid by February 28, 2019.
- $ 10,000 accrued but not vested by December 31, 2018. 発生したが付与されてない
What amount can Mr. Holiday deduct as a business expense for 2018?

A. $114,000

B. $124,000

C. $120,000

D. $154,000

The correct answer is 正解は、[C. $120,000] = $20,000 + $100,000
休暇手当は発生主義か現金主義かに関わらず、実際に支払った年度に控除ができます。