02 Jan Your document must be
Several years ago, Vivian Wright exercised all of her stock options from a startup company she helped to establish. The stock options netted Vivian $100 million dollars. Since that time she has used an investment philosophy of steady, careful investment in a diversified portfolio. She generally buys and holds most of her stock for over one year. Each year she engages in multiple sales and purchases. She buys securities both for their growth potential and dividend payments. Since her investment activities have been taking up so much of her time, this year, she rented a suite of offices, hired three investment advisers, and 2 secretaries to help. She also purchased several assets for the office, such as a new computer and office furniture.
Vivian is now seeking some tax help. Using the following partial list of research sources explain to Vivian if her activities are considered a business or an investment activity. Please also, explain if the activities are deductions for or from AGI.
Higgins v CIR, 25 AFTR 1160, 41-1 USTC § 9233 (USSC, 1941)
Estate of Louis Yaeger, Deceased, Judith Winters, Ralph Meisels, Abraham J. Weber and the Bank of New York, 889 F2d 29, 89-2 USTC ¶ 9633(CA-2)
Fredrick Mayer and Jan Perry Mayer, 67 TCM 2949 (1994)
Rudolph W. and Abbie A. Steffler, 69 TCM 2940 (1995)
Sec, 179
Make sure to explain the logic behind your decision.
Format
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Submission
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