Project 1 Tax Research Memo REQUIREMENT student must individually complete a tax research project memo. Students should choose one of the three topics below. The memo should be typed and,

in the format, provided in the example memo. Students should use RIA Checkpoint. It will be graded on accurately and insightfully analyzing the given facts with proper tax law and citation, as well as presentation (clarity and conciseness of the writing). See the grading rubric below for additional details. Note that only primary sources should be cited. Primary sources include the Internal Revenue Code (IRC), Revenue Rulings, and court cases, but do not include anything from the IRS. Choose one of the three topics below: Topic 1 John and Marnie, a married couple who file jointly, sold 3 stocks from their portfolio this year and used the funds as a down payment for a new car. On April 20, 2019, they purchased 23 shares for $49 each. They also recently purchased 50 shares Moody's stock on July 18th of the current year, at $365.75 per share, and at the same time they also purchased 20 shares of Microsoft for $359.49 per share. They sold their stock on October 27th of the current year and got $301.97 per share for Moody's, $168.22 per share for Apple, and $329.81 per share for Microsoft. John and Marnie want to know how much they will report as a gain or loss and which amounts, if any, will be taxed at preferential rates. Topic 2 Helena and Raul Greene finalized the adoption of their child, Gwen, a US citizen, on March 23rd, 2023. They are wondering what changes this will have on their taxes for the year as well as any changes they might need to make going forward. For this topic, make sure to come up with three potential issues or questions that you look into. Topic 3 Charlotte has decided to take her side hustle of making and selling meme t-shirts and make it her full-time gig. She has dedicated a room in her house only for the purpose of making and storing her t-shirts. Currently her mortgage is $2700 per month, she also pays $150 for electricity and $80 for business speed internet monthly as well. Charlotte is wondering if she can deduct some of these house expenses since they are part of her business. She also wants to know what other expenses she may be able to deduct. Grading Rubric 1 Clearly and concisely identifies the relevant Identify Facts and facts and issues from the facts provided. Issues Demonstrates a thorough and creative Context, Purpose, understanding of context, purpose, and audience. and Audience Identify and Use Relevant Sources of Tax Law Analysis Exceeds Expectations Propose Reasoned Solution Summarize and Conclude Information Thoroughly identifies high-quality, credible, and relevant sources of tax law that apply to the facts provided and demonstrates a skillful and thorough use of the sources to enhance the communication. Sources are correctly cited. Correctly and concisely analyzes how the relevant sections of law apply to the facts provided. Thoroughly and accurately summarizes how the relevant laws apply to the facts provided and explains the outcome as it relates to the tax treatment. Message is skillfully delivered with a clear, concise and persuasive authority. Very professional and free of grammatical and Presentation typographical errors. Manner of A central message is summarized in a high quality conclusion that provides a recommendation. The message is clearly and concisely written, and provides a logical summary based on the laws, analysis, and proposed solution. Meets Expectations Identifies most of the relevant facts and issues from the facts provided. Demonstrates adequate consideration of context, purpose, and audience. Identifies relevant sources of tax law that apply to the facts provided and demonstrates a consistent use and understanding of the sources to support the communication. Sources are generally cited correctly. Adequately analyzes how the relevant sections of law apply to the facts provided. Adequately summarizes how the relevant laws apply to the facts provided and explains the outcome as it relates to the tax treatment. Message is delivered in a clear and concise manner. Demonstrates consistent use of professional communication conventions. Generally free of grammatical and typographical errors. A central message is summarized in a quality conclusion that provides a recommendation. The message is well written, and provides a logical summary based on the laws, analysis, and proposed solution. TOTAL SCORE 2 Does Not Meet Expectations Does not Clearly identify the relevant facts and issues from the facts provided. Does not demonstrate appropriate attention to context, purpose, or the intended audience. Does not identify relevant sources of tax law that apply to the facts provided and or appropriately or effectively use them to support the communication. Sources may not be cited correctly. Does not adequately analyze how the relevant sections of law apply to the facts provided. Does not adequately analyze how the relevant laws apply to the facts provided and explains the outcome as it relates to the tax treatment. Does not present the message in a clear or appropriate manner. May contain grammatical and typographical errors. Conclusion may not provide a central message is summarized in a quality conclusion that provides a recommendation. The message may not be clear or concise, and may not provide a logical summary based on the laws, analysis, and proposed solution.