taxation 536940

????2. 2. Student receives a $6,000 scholarship for college. Is it considered income in each of the following cases? Justify your answers. a. It is for tuition only . b. It is for books and supplies. c. It is used for the student meal plan and transportation.??1. 1. Are the following includable in the employee’s gross income? Cite relevant tax code and where it would appear on the 1040. a. Employee charges the cost of materials for a presentation at work on her personal credit card and gets reimbursed by her employer. b. Employee of Big Burger chain gets a discount in all Big Burger stores across the country. c. Employer provides a dinner to employees who work late on Friday night. d. Employer gives employee a $50 gift certificate each month to encourage eating lunch at a nearby healthy eatery instead of fast food. 3. 3. JJ got married on December 31, 2012. His new wife has a dependent child. A) What filing status is most advantageous for him in 2012? B) His new wife wants to file as married filing separately, because she thinks they will get extra deductions. Is this true? Provide proof. 4. 4. Susan Trader buys 300 shares of Metlife stock and 500 shares of GE on December 31, 2009. She then buys 300 shares of WaMu stock on January 4, 2010. She sells of her stock on March 11, 2012. She ends up with an $8,000 gain from Metlife, a $10,000 loss from GE, and a $5,000 loss from WaMu. How much loss can she take against her ordinary income in 2012? What is the amount and character of the loss that she carries forward into the next year? 5. 5. President Obama has asked that you drop everything in order to advise him on his new tax policy. He is trying to raise tax revenue through progressive measures. He is looking for you to come up with some ideas based on what you have learned during this course. Are there deductions he should modify or do away with? Is there a fair way for him to raise the income tax? Where should he look for other sources of revenue? Would you…