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zalisa [80]
1 year ago
15

When a taxpayer rents a residence for part of the year, the residence is not eligible as a qualified residence for the home mort

gage interest expense deduction unless the taxpayer's: Multiple Choice personal use of the home exceeds half of the taxpayer's rental use of the home. personal use of the home exceeds the lesser of 14 days or 10 percent of the taxpayer's rental use of the home. personal use of the home exceeds the greater of 14 days or 10 percent of the taxpayer's rental use of the home. personal use of the home exceeds the taxpayer's rental use of the home.
Business
1 answer:
Ket [755]1 year ago
5 0

When a taxpayer rents a residence for part of the year, the residence is not eligible as a qualified residence for the home mortgage interest expense deduction unless the taxpayer's: personal use of the home exceeds the taxpayer's rental use of the home.

<h3>Who is a taxpayer?</h3>

A taxpayer is a person or organization subject to pay a tax. Modern taxpayers may have an identification number, a reference number issued by a government to citizens or firms. The term "taxpayer" generally characterizes one who pays taxes.

Therefore, the correct answer is as given above.

learn more about tax: brainly.com/question/25783927

#SPJ1

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In a firm's income statement, interest payments on debt are deducted Blank______ corporate taxes are calculated, which Blank____
seropon [69]

<em>In a firm's income statement, interest payments on debt are deducted </em><em>before </em><em>corporate taxes are calculated, which</em><em> reduces</em><em> the firm's tax liability.</em>

<h3>Income statement: What is it?</h3>

An overview of the company's operations for a specific time period is provided in the income statement. The revenue (gross and net sales), cost of products sold, operational expenditures (selling and general and administrative expenses), taxes, and net profit or loss are the statement's primary components.

<h3>What is displayed on a firm's income statement?</h3>

The statement logically and coherently presents the company's revenue, costs, gross profit, selling and administrative expenses, other expenses and income, taxes paid, and net profit.

learn more about firm's income statement here <u>brainly.com/question/14733237</u>

<u>#SPJ4</u>

6 0
2 years ago
McGraw purchased an antique rocking chair from Tillis by check. The check was dishonored by the bank due to insufficient funds.
LekaFEV [45]

Answer:

Option C is the correct option.

Explanation:

As the rights and obligation of the antique rocking chair are been passed to third party, so the damage caused by the checque been bounced is the monetry consideration agreed between the party to the contract, McGraw and Tellis. So Tellis may recover money damages from McGraw. However there is a special condition that can allow Tellis recover his asset from Rio if the third party knew before purchase of this asset, that the checque paid to Tellis by McGraw was dishonoured but still he contracted with McGraw to acquire the antique rocking chair.

Overall the option C is the correct option with which the case scenario relates.

3 0
2 years ago
A politician is interested in the proportion of voters in his district who think he is doing a good job.
MaRussiya [10]

A politician should be interested in the proportion of voters in his district.

The answer is true.

Explanation:

This is not only true for politician but also for any job which involves voting.

A person / leader will be recognized, if he

  • look into the welfare of the society
  • takes measure when problem occurs
  • is easily accessible to the public
  • lend his ears to the problems
  • provides an unbiased approach
  • he is interested in doing service
  • obeys laws

But it does not mean that, the person who got victory in the election has done good job in the previous service period. There are many factors that decide the polling of vote.

3 0
3 years ago
Once a civilization had a surplus of food, it could support which of the following?
erica [24]
What are the options?
5 0
3 years ago
Read 2 more answers
Lowering the discount rate can promote full employment because
Keith_Richards [23]
Lowering the discount rate can promote full employment because <span>companies are more likely to expand and hire more workers. High inflation is the circumstance which usually accompanies a period of economic expansion. </span>
7 0
2 years ago
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