On january 1, 2018, ackerman sold equipment to brannigan (a wholly owned subsidiary) for $200,000 in cash. the equipment had originally cost $180,000 but had a book value of only $110,000 when transferred. on that date, the equipment had a five-year remaining life. depreciation expense is computed using the straight-line method.
ackerman reported $300,000 in net income in 2018 (not including any investment income) while brannigan reported $98,000. ackerman attributed any excess acquisition-date fair value to brannigan's unpatented technology, which was amortized at a rate of $4,000 per year.
a. what is consolidated net income for 2018?
b. what is the parent's share of consolidated net income for 2018 if ackerman owns only 90 percent of brannigan?
c. what is the parent's share of consolidated net income for 2018 if ackerman owns only 90 percent of brannigan and the equipment transfer was upstream?
d. what is the consolidated net income for 2019 if ackerman reports $320,000 (does not include investment income) and brannigan $108,000 in income? assume that brannigan is a wholly owned subsidiary and the equipment transfer was downstream.

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.