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Anika [276]
4 years ago
15

Anwer owns a rental home and is involved in maintaining it and approving renters. During the year he has a net loss of $8,000 fr

om renting the home. His other sources of income during the year are a salary of $111,000 and $34,000 of long-term capital gains. How much of Anwer’s $8,000 rental loss can he deduct currently if he has no sources of passive income?
Business
1 answer:
Evgesh-ka [11]4 years ago
8 0

Solution:

(1) Maximum possible $25,000 deduction before phase-out

(2) Maximum deduction phase-out is $22,500

    [($145,000 AGI - 100,000) × 0.5]

(3) Current year overall loss $2,500 (1) - (2)

(4) Rental loss in current year $8,000

(5) Current year leasing deficit of 2,500 dollars, Lesser of (3) or (4)

Passive loss carry forward $5,500 (4) - (5)

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Which statement(s) is (are) TRUE? I. Technological knowledge refers to the physical capital that is used to make goods and servi
uranmaximum [27]

Answer:

Option 2 is only correct.

Explanation:

The reason is that the physical capital is the physical assets used for production of goods and services whereas the Technological knowledge refers to the knowledge of increasing the productivity by utilizing physical capital. So these two statements were incorrect.

The second statement is correct because the better tools or technology we have the better we can produce. This means these technological tools helps workers to produce more so the statement is correct.

3 0
3 years ago
In the market for loanable funds, suppose the current interest rate is 5%. At a rate of 5%, investors wish to borrow $100 millio
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Answer:

The answer is a the interest rate to fall as there is currently a surplus of loanable funds.

Explanation:

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7 0
4 years ago
During the taking of its physical inventory on December 31, 2014, Barry's Bike Shop incorrectly counted its inventory as $229,13
Naya [18.7K]

Answer:

Assets will be overstated and Net Income understated

Explanation:

The effect on the balance sheet and income statement

<u>Balance Sheet :</u>

Inventory will be overstated

Inventory belongs to the Current Asset group

Meaning Assets will be overstated

<u>Income Statement :</u>

Inventory will be overstated

This reduces cost of sales with an amount greater

Meaning Profits will be overstated

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The effect on the balance sheet and income statement would be : Assets will be overstated and Net Income understated.

6 0
3 years ago
Suppose a State of California bond will pay $1,000 eight years from now. If the going interest rate on these 8-year bonds is 5.5
svlad2 [7]

Answer:

the bond worth today is $651.60

Explanation:

The computation of the amount of bond worth today i.e. present value is to be shown below:

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where,

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Now placing these values to the above formula

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4 0
3 years ago
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Lady_Fox [76]

Answer:

2) strategic positioning.

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In this case, FindFor is an online retailer whose main activity is to offer a service (retail) but it includes additional free services to gain a competitive advantage. It offers free delivery of purchased goods, and in case you do not like the products, you can send them back for free and get a refund. This way they can differentiate themselves from brick-and-mortar retailers, while adding customer value.

4 0
3 years ago
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