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

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