Bruce Wilson won $3 million in the state lottery. The lottery pays out the pri

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    Bruce Wilson won $3 million in the state lottery. The lottery pays out the prize money in 20 annual installments of $150000 each. After receiving three
    $150000 installments Bruce sold the remaining $2.550 million of payments for $1.5 million reported the $1.5 million as long-term capital gain on his tax
    return and paid tax on that amount at the 20% tax rate (long-term capital gain rate). Bruce%u2019s tax return has been selected for audit by the IRS. Is he
    likely to prevail on his treatment of the $1.5 million sale of his future lottery payments as a long-term capital gain?

    %u2022 1. Facts (including assumptions)
    %u2022 2. Issue: Issue Statement
    %u2022 3. Conclusion: Short paragraph with Final answer
    o Ex) Tax should be included in year 20XX according to XXX
    %u2022 4. Discussion: How you got the conclusion(must include 3 primary sources)

    Primary Source
    CCH Tax Research network (intelliconnect.cch.com)
    Cornell.law.edu
    BNA library database

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