Money, Inc., a calendar year S corporation in Denton, Texas, has two unrelated shareholders, each owning 50% of the stock. Each shareholder recorded a $400,000 stock basis as of January 1. At the beginning of the tax year, Money reports balances in AAA of $300,000 and AEP of $600,000. During the year, Money generates operating income of $100,000. At the end of the year, Money distributes securities worth $1,000,000, with an adjusted basis of $800,000. Required:
Determine the Federal income tax effects of these transactions.

In canada, the reference base period for the cpi is 2002. by 2012, prices had risen by 21.6 percent since the base period. the inflation rate in canada in 2013 was 1.1 percent. calculate the cpi in canada in 2013. hint: use the information that “prices had risen by 21.6 percent since the base period” to find the cpi in 2012. use the inflation rate formula (inflation is the growth rate of the cpi) to find cpi in 2013, knowing the cpi in 2012 and the inflation rate. the cpi in canada in 2013 is round up your answer to the first decimal. 122.9 130.7 119.6 110.5

Bernard made a gift of $500,000 to his brother in 2014. due to bernard’s prior taxable gifts he paid $200,000 of gift tax. when bernard died in 2019, the applicable gift tax credit had increased. at bernard’s death, what amount related to the $500,000 gift to his brother is included in his gross estate?

What is the difference between the contractual interest rate and the market interest rate?