Beth r jordan tax return solution

I’m studying and need help with a Accounting question to help me learn.

Please finish the answer sheet. Please ACCT 351 Group Project: Instructions Fall 2018 Part I. Tax Research (10 points) FACTS: Beth’s sister, Jane, suffers from a degenerative spinal disorder. Jane’s physician said that swimming could help prevent the onset of permanent paralysis and recommended the installation of a swimming pool at her residence for her use. Jane’s residence had a market value of approximately $500,000 before the swimming pool was installed. The swimming pool was built, and an appraiser estimated that the value of Jane’s home increased by $98,000 because of the addition. The pool cost $194,000, and Jane claimed a medical expense deduction of $96,000 ($194,000 − $98,000) on her tax return. Upon audit of the return, the IRS determined that an adequate pool should have cost $70,000 and would increase the value of her home by only $31,000. Thus, the IRS claims that Jane is entitled to a deduction of only $39,000 ($70,000 − $31,000). ASSIGNMENT: Use Checkpoint to research Jane’s tax situation. 1. Find the Treasury Regulation that addresses whether capital expenditures can be deducted as a medical expense and provide the citation. a. Your citation should include subparagraphs (i.e., three parentheses). i. For example: Reg. § 1.162-5(b)(3)(i) ii. Do not put spaces between the parentheses. 2. Find the court case that most closely mirrors Jane’s situation. What is the taxpayer’s last name? 3. Once you have located the court case, click on the buttons “FTC” and “Citator” at the top to answer the following questions: a. Read the headnote of the decision from the original court of jurisdiction (trial court). Was the decision in favor of the taxpayer or the IRS? b. Was the case appealed? If so, was the appellate court decision in favor of the taxpayer or the IRS? 1 Part II. 2018 Tax Return (30 points) Beth R.do not copy and paste the answer online because it is different.