Donna does not think she has an income tax problem but wouldlike to discuss her situation with you just to make sure there isno unexpected tax liability. Base your suggestions on the followingrelevant financial information:
a. Donna’s share of the SAT Partnership income is $150,000, butnone of the income can be distributed because the partnership needsthe cash for operations.
b. Donna’s Social Security benefits totaled $8,400, but Donnaloaned the cash received to her nephew.
c. Donna assigned to a creditor the right to collect $1,200 ofinterest on some bonds she owned.
d. Donna and her husband lived together in California untilSeptember, when they separated. Donna has heard rumors that herhusband had substantial gambling winnings since they separated.
Does Donna have any substantial tax problems for each ofthe situations? Please explain your position.
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