Han and Leia have come to you for tax help for their 2023 tax year. What issues does their set of facts present to you as their tax advisor? What advice do you have for them? Please make any assumptions that you need in-order to address and respond to the issues presented by the fact pattern. Clearly state the assumptions that you make. It is advisable to utilize a memorandum style in which you address the facts, issues, analysis, and conclusions. Support your answers with cites to code, regulations, cases, rulings, IRS publications or other research data. 1. In 2023 the Village of Mos Eisley valued the property at $3,150,000 and assessed real property taxes on the both the home and the out-parcels of property. Jobba the Assessor determined that the home represented 30% of the value and the out-parcels represented the remaining 70% of the value for the property. The real estate taxes on the Lake Tatooine property are $31,500 per year.
Han and Leia have come to you for tax help for their 2023 tax year. What issues does their set of facts present to you as their tax advisor? What advice do you have for them? Please make any assumptions that you need in-order to address and respond to the issues presented by the fact pattern. Clearly state the assumptions that you make. It is advisable to utilize a memorandum style in which you address the facts, issues, analysis, and conclusions. Support your answers with cites to code, regulations, cases, rulings, IRS publications or other research data. 1. In 2023 the Village of Mos Eisley valued the property at $3,150,000 and assessed real property taxes on the both the home and the out-parcels of property. Jobba the Assessor determined that the home represented 30% of the value and the out-parcels represented the remaining 70% of the value for the property. The real estate taxes on the Lake Tatooine property are $31,500 per year.
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 3RP
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Transcribed Image Text:Han and Leia have come to you for tax help for their 2023 tax year. What issues does their set of
facts present to you as their tax advisor? What advice do you have for them? Please make any
assumptions that you need in-order to address and respond to the issues presented by the fact
pattern. Clearly state the assumptions that you make. It is advisable to utilize a memorandum
style in which you address the facts, issues, analysis, and conclusions. Support your answers
with cites to code, regulations, cases, rulings, IRS publications or other research data.
1. In 2023 the Village of Mos Eisley valued the property at $3,150,000 and assessed real
property taxes on the both the home and the out-parcels of property. Jobba the Assessor
determined that the home represented 30% of the value and the out-parcels represented
the remaining 70% of the value for the property. The real estate taxes on the Lake Tatooine
property are $31,500 per year.
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