Find Rev. Rul. 72-542, 1972-2 CB 37, and answer the following questions. The purpose of these questions
Question:
a. What are the basic tax issues addressed in the revenue ruling?
b. Which of the basic tax legal doctrines discussed in Chapter 4 is applied in this ruling?
c. From the ruling, identify the IRC section defining gross income.
d. From the ruling, identify the IRC section permitting a charitable contribution deduction.
e. Has this ruling been cited in other rulings or cases? If so, how many times?
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a The revenue ruling addresses the tax consequences proceeds re...View the full answer
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Related Book For 
Principles Of Taxation For Business And Investment Planning 2016 Edition
ISBN: 9781259549250
19th Edition
Authors: Sally Jones, Shelley Rhoades Catanach
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