FICPA Podcasts

Federal Tax Update: Schedule D Problem

May 20, 2019

https://vimeo.com/337037074

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/18/2019-05-20-schedule-d-problem

This week we look at

  • Review Wolters Kluwer IRS response and other issues

  • IRS releases a new worksheet for computing tax when there are 25% or 28% gains

  • Tax Court finds IRS did not have authority to find Medicare difficulty payments nontaxable in Notice 2014-7

  • CA10 agrees with Tax Court that S corporation cannot accrue wages on participants

  • Taxpayer materially participated in activity under facts and circumstances test