Question

Jeremy has a new client. He has identified a research question that relates to a transactionthat the client completed several months ago. This type of research question will primarilyinvolve:A. open facts.B. new facts.C. old facts.D. closed facts.E. None of the above.

Answer 1

The correct answer is letter "D": closed facts.

Step-by-step explanation:

When it comes to Tax Planning, closed facts refer to transactions that have already taken place. Thus, there is little to no planning opportunities available. Under those scenarios, the researchers only can advise the taxpayer on how the transaction could be reported.