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Inessa [10]
3 years ago
10

Ashburn reported a $105,000 net §1231 gain in year 6. Assuming Ashburn reported $60,000 of nonrecaptured §1231 losses during yea

rs 1-5, what amount of Ashburn's net §1231 gain for year 6, if any, is treated as ordinary income?
a. $0.
b. $45,000.
c. $60,000.
d. $105,000.
e. None of the choices are correct.
Business
1 answer:
Ann [662]3 years ago
4 0

Answer:

C) $60,000

Explanation:

According to the §1231 look-back rule, any net §1231 gain of the year must be recaptured as current income to the extent of covering net §1231 losses that may have been deducted during the last 5 years.

In this case Ashburn must recapture $60,000 as ordinary income to match the $60,000 it had deducted as ordinary loss during the previous 5 years.

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What are commercial bank?
Bogdan [553]

Answer:

A commercial bank is a type of bankthat provides services such as accepting deposits, making business loans, and offering basic investment products that is operated as a business for profit.

6 0
3 years ago
Read 2 more answers
Lacy set her textbook under her chair in her business law class and then forgot to take it with her when she left the classroom.
rosijanka [135]

Answer:

a. the college is a constructive bailee, obligated to return the textbook to Lacy, and until it does, it is liable for harm to the property.

Explanation:

When a party comes into possession of a property not by contractual agreement, they are referred to as constructive bailee and are obligated to take care of the property till it is returned to the owner.

The bailee does not willingly take possession of the property, rather unforseen circumstances leads to them possessing it.

This is common when a person forgets his property in a place.

In the given scenario the college (Dean of Business College) became a constructive bailee when they recieved the misplaced textbook. So they are obligated to care for the textbook till it get back to Lacy or be held liable for any harm done

4 0
2 years ago
What are blueprints?
Pepsi [2]

answer:oa.

Explanation:

its just oa its the definition

3 0
3 years ago
In which phase of the strategic marketing planning process does the firm decide what level of commitment to its ethical policies
jonny [76]

Answer:

The answer is planning

Explanation:

This process involves clarifying the kind of strategic objectives an organization would like to achieve and how this is to be done    

7 0
3 years ago
If the buyer also paid a 3% real estate agent commission, what was the total amount paid at closing? a. $2,499 b. $5,550 c. $6,4
nika2105 [10]

Based on the various costs paid at closing, the total amount that was paid was <u>d. $7,499.</u>

<h3>Commission paid to agent</h3>

= Cost of house x Commission

= 3% x 180,000

= $5,550

<h3>Total amount paid at closing</h3>

= Commission + Loan origination + Title insurance +Attorney fees + Appraisal cost + Recording fees

= 5,550 + 275 + 528 + 750 + 275 + 121

= $7,499

In conclusion, the total paid at closing is $7,499.

Find out more on closing costs at brainly.com/question/26133271.

5 0
2 years ago
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