week 10 discussion 1&2

Each answer do not have to be more than 2 paragraphs long.

• Imagine the client owns an asset that was condemned by the state. Using the tax rules for condemned property, recommend the tax treatment of any potential gains or losses incurred to your client. Justify your response.

• Analyze the rules for recapture under code Section 1245. Propose at least one change to code Section 1245 that would benefit taxpayers. Provide a rationale to support your proposal.

• Choose at least two elements of property transactions that the IRS is most likely to challenge. Propose one strategy to avoid an IRS audit of these two elements. Provide a rationale to support your proposal.
• Imagine that you are an IRS auditor who is analyzing the rules regarding property transactions. Choose at least two property transactions that you would modify to produce the most benefit to the United States Treasury. Justify your response.