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vodomira [7]
3 years ago
7

Which of the following are included in qualified business income (QBI)? (All income is effectively connected with a trade or bus

iness in the U.S.)
Betty's Form W-2 wages received from an S corporation.

Tom's guaranteed payments from a partnership.

Jane's Schedule C net profit.

Qualified Publicly Traded Partnership (PTP) income.
Business
1 answer:
Elina [12.6K]3 years ago
3 0

Answer:

The correct answers are letters "C" and "D": Jane's Schedule C net profit;  Qualified Publicly Traded Partnership (PTP) income.

Explanation:

The Qualified Business Income Deduction or QBI allows up to 20% of deductions for people who file small businesses taxes in personal statements.  The rule mainly applies to all those activities developed in a sole proprietorship. Capital gains, losses, dividends, and interest are not eligible for this type of deductions. A schedule C (form 1040) or a qualified Publicly Traded Partnership (PTP) income can be subject to this deduction.

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Carow Corporation purchased on January 1, 2020, as a held-to-maturity investment, $60,000 of the 8%, 5-year bonds of Harrison, I
tigry1 [53]

Answer:

Entries are given below

Explanation:

Requirement A.

On January 1, 2020 Carrow purchased held to maturity investment, $60,000 of the 8% 5year bonds of Harrison, Inc for $65,118

Entry                                                DEBIT   CREDIT

Held-to-maturity securities            $65,118

cash                                                                $65,118

Requirement B.

The receipt of semiannual interest and premium amortization

Entry                                                DEBIT   CREDIT

cash (60,000 x 8% x 6/12)             $2,400  

held to maturity sercurities                            $446

interest revenue(65,118 x.6% x6/12)             $1,954

6 0
3 years ago
When examining the​ Fed's balance​ sheet, in most​ periods, the two most important assets ​are: A. U.S. Treasury securities and
Allushta [10]

Answer: D. U.S. Treasury securities and Discount loans to banks.

Explanation: When examining the​ Fed's balance​ sheet, in most​ periods, the two most important assets ​are U.S. Treasury securities and Discount loans to banks. The Fed's balance sheet balance sheet includes a large number of distinct assets and liabilities containing a great deal of information about the scale and scope of its operations. Of these assets the U.S. Treasury securities and Discount loans to banks are paramount.

U.S Treasury securities are such as bills, notes and bonds issued by the U.S. government viewed as having virtually no credit risk. As such, they are debt obligations of the U.S. government.

Discount loans to banks are direct short term loans provided to banks by the Fed to meet temporary shortages of liquidity caused by internal or external disruptions.

5 0
3 years ago
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Illusion [34]

Answer:

Option C is correct

Explanation:

This means an increase in actual price would make quantity aggregate supply curve to shift to the right.

3 0
3 years ago
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