1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Hitman42 [59]
10 months ago
11

describe the two eligibility requirements to qualify for deducting losses generated from real estate activities.

Business
1 answer:
Zolol [24]10 months ago
7 0

Two exceptions to the special passive activity rule for real estate activities provide the whole or partial offset of real estate rental losses against active or portfolio income, even when the business is otherwise regarded as a passive activity.

<h3>Which rules regarding passive activities for rental revenue are exceptions?</h3>
  • You have a stake in the yearly commerce or economic activities.
  • During the current tax year or at least 2 of the 5 tax years prior, the rental property was utilized primarily in that trade or company.
<h3>Only real estate is subject to passive loss restrictions, right?</h3>

Generally speaking, the following actions can result in passive losses (and income): leasing of equipment. Rental property (though there are some exceptions) a farm or a sole proprietorship in which the taxpayer has no substantial interest.

<h3>How can passive income be balanced?</h3>

Selling off your rental properties will help you make up for your passive losses. You don't actually have to sell the property that's causing the losses to balance them effectively. Any passive income will be offset by losses.

Learn more about special passive activity rule: brainly.com/question/28137310

#SPJ4

You might be interested in
Grace makes $2,200 per month. She spends $300 on credit card payments, $120 per month for a furniture purchase, and $450 on an a
svp [43]
If you add 300+120+450 you will get 870 so just subtract. 2,200-870 to get 1330
3 0
3 years ago
Mio was transferred from New York to Germany. He lived and worked in Germany for 340 days in 2020. Mio's salary for 2020 is $190
vfiekz [6]

Answer:

Mio's foreign earned income exclusion is $99,960

Explanation:

The calculation of the Mio's foreign earned income exclusion is given below:

The foreign earned income exclusion limit for 2020 is $107,600

Now the foreign earned income exclusion depend on days equivalent to

=  Foreign earned income exclusion limit × (2020 days ÷ total number of days in a year)

= $107,600 × (340 days ÷ 366 days)

= $99,960

Hence, Mio's foreign earned income exclusion is $99,960

7 0
3 years ago
Kaspar Corporation makes a commercial-grade cooking griddle. The following information is available for Kaspar Corporation's ant
Leto [7]

Answer:

Total cost per unit is $77

Explanation:

Fixed manufacturing overhead per unit = Total fixed manufacturing overhead ÷ Number of units

= $478,800 ÷ 34,200 = $14 per unit

Fixed selling and administrative expenses per unit = Total Fixed selling and administrative expenses ÷ Number of units

= $171,000 ÷ 34,200 = $5 per unit.

Total cost per unit = Direct material + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead + Variable selling expenses + Fixed selling expenses

Total cost per unit = $15 + $5 + $11 + $14 + $5 + $5 = $55 per unit.

Markup = 40% of total cost = $55 × 40% = $22

Therefore, total selling price per unit = Cost per unit + Markup

= $55 + $22 = $77 per unit.

7 0
3 years ago
W.W. Grainger, Inc. is one of the world's largest largest business-to-business distributors of equipment, component parts, and s
cestrela7 [59]

Answer:

Merchant wholesaler

Explanation:

A merchant wholesaler is a business owner that specializes in purchasing goods in large quantities and then sell to other retailers and wholesalers.

Since they purchase their products in large quantities, they have different warehouses in their acquisition. These warehouses are used to store the products.

Merchant wholesalers are very vital in the chain of distribution as they facilitate the smooth movement of goods which takes places between the producers and the retailers.

In the scenario described above, W.W. Grainger is an example of a merchant wholesaler.

6 0
3 years ago
One of the most dramatic changes in connectivity and communications in the past few years has been _______.
bekas [8.4K]

The right phrase to fill the blank is: widespread use of mobile devices with wireless internet connectivity.

This is one of the major changes that have occurred in recent years, where we no longer have to access internet from local area network connection which requires a cable for you to connect to the internet and a computer is no longer necessary to be able to use it as well.

5 0
3 years ago
Other questions:
  • Polly Smith, a supervisor at Kroger's, was recently evaluated by her subordinates. Their responses indicated that Polly uses The
    7·1 answer
  • After graduation, you face a choice. you can work for a multinational consulting firm and earn a starting salary (benefits inclu
    11·1 answer
  • Assume that the company expects sales of each product to decline to 25,000 units next year with no change in unit selling price.
    11·1 answer
  • Sorrento Skies Corporation issues 16.000 shares of $100 par value preferred stock for cash at $120 per share. The entry to recor
    13·1 answer
  • Increasingly concerned about my minor heartbeat irregularities, I think that my health is being threatened, and more and more of
    14·1 answer
  • Lever Europe, a division of Unilever, markets Snuggle fabric softener. But in 10 European countries, it uses seven brand names,
    7·1 answer
  • Which of the following benefits is offered by sales promotion tools? A) Sales promotion tools are more authentic and credible to
    11·1 answer
  • On January 1, 2021, Red Flash Photography had the following balances: Cash, $20,000; Supplies, $8,800; Land, $68,000; Deferred R
    7·1 answer
  • Causwell Company began 2021 with 10,000 units of inventory on hand. The cost of each unit was $5.00. During 2021, an additional
    5·1 answer
  • Management generally resists allowing employees to manage their own workflow because it decreases their motiviation. please sele
    15·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!