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
marin [14]
2 years ago
8

During the year, Sara sold a capital asset at a loss of $2,000. She had held the asset as an investment. This is the only capita

l asset she sold during the year. Is her deduction for this capital loss a deduction for or a deduction from AGI
Business
1 answer:
Sedbober [7]2 years ago
4 0

<u>Answer: </u>A deduction for a loss incurred on the sale of a capital asset held for investment is a deduction for AGI.

<u>Explanation:</u>

AGI means the Adjusted gross income in the US tax system. Specific deductions are made from the individuals gross income to arrive at the AGI. the income which is taxable is calculated from the adjusted gross income from which personalized exemptions and itemized deductions.

In this case Sara has got a loss of $2,000 on the investment so this amount is deducted as a capital loss for AGI. AGI factors many allowable deductions from the gross income on which the income tax liability is calculated.

You might be interested in
Java Joe operates a chain of coffee shops. The company pays rent of $20,000 per year for each shop. Supplies (napkins, bags, and
Dvinal [7]

Answer:

2. Cost-variable.

Explanation:

Variable costs basically depends on the customers in the shop. In this case, the more napkin a person uses, the more Java Joe has to order.

6 0
2 years ago
Timothy is looking for suppliers for his cheese-making business. He examines a list of suppliers whom he can contact with a busi
elixir [45]

Answer: Supplier selection process

Explanation:

Supplier selection process is the scenario where an individual or a company wants to purchase an item and they contact various vendors who do such business, and asking them for prices, details; generally the requirements for the items they want, they now choose out of the various vendors options, that which matches what they want.

Timothy is in the supplier selection process, where he's evaluating every detail from the vendors based on his request, with an option to request from any of them that matches his request.

7 0
3 years ago
A firm has an equity beta of 1.2, the risk-free rate is 3.4 percent, the market return is 15.7 percent, and the pretax cost of d
Alik [6]

Answer:

0.82

Explanation:

Calculation to determine the firm's asset beta

Using this formula

Firm's asset beta=Equity beta/(1+/D/E)

Let plug in the formula

Firm's asset beta=1.2/(1+0.47)

Firm's asset beta=1.2/1.47

Firm's asset beta=0.816

Firm's asset beta=0.82 (Approximately)

Therefore the firm's asset beta is 0.82

5 0
3 years ago
I know this will be deleted but any on wanna play pad lethttps://pad let.com/ejkindred27
navik [9.2K]

Answer:

sure

Explanation:

what game?

4 0
2 years ago
Read 2 more answers
Cost ConceptOn February 3, Clairemont Repair Service extended an offer of $360,000 for land that had been priced for sale at $40
guajiro [1.7K]

Answer:

The land should be recorded in Clairemont Repair Service’s records at $380,000

Explanation:

According to the historical cost principle, the recording of the fixed assets should be recorded at the purchase price or cost price which is to be shown in the assets side under the balance sheet.

So, according to the question, on February 28, the repair service accepted the seller's counteroffer which means that the land was purchased on February 28 for $380,0000. So, by $380,000 amount, the land would be recorded.

Other costs which are mentioned in the question is ignored.

7 0
3 years ago
Other questions:
  • Which of the following statements is FALSE? Global bonds combine the features of domestic, foreign, and Eurobonds, and are offer
    13·1 answer
  • Helen and her friends want to start a new software firm. Its business plan has been finalized. Helen is in charge of the HR plan
    15·1 answer
  • Brokers and sales agents who submit required criminal background information and fingerprints to TREC when seeking their origina
    12·1 answer
  • Factory overhead includes:_________.a. direct materials unansweredb. direct laborun answeredc. indirect labor unansweredd. depre
    12·1 answer
  • Brand equity is an unofficial <br><br> A. opportunity.<br> B. trademark.<br> C. asset.<br> D. luck.
    13·1 answer
  • Lonny (37) is a U.S. citizen. He was married at the beginning of the current tax year. His wife lived in the household until Sep
    15·1 answer
  • In a market system, scarce goods are allocated through the operation of fixed prices that are determined by consumers and produc
    8·1 answer
  • Grand-cola spends $3 on direct materials, direct labor, and variable manufacturing overhead for every unit (12-pack of soda) it
    11·1 answer
  • Please submit your idea for a practical, innovative, and marketable product or service (it’s just for a project)
    7·1 answer
  • What might a concept include along with a brief written description of the product?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!