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3 years ago

Why might you complete a 1040 instead of a 1040EZ

Business

2 answers:

Mekhanik [1.2K]3 years ago

7 0

A. you own a home other options are just qualifications. good luck

Dennis_Churaev [7]3 years ago

7 0

Option A is correct. You complete 1040 instead of a 1040EZ in case of own a home.

Further Explanation:

1040:

1040 is the form to fill by that person who is paying federal income tax. But the specific limitation has been put in use for this form. The individual fills this form only in case of having a taxable income of greater than $100,000 and owns a property. The individual completes this form for taking the deduction and reducing the tax liability.

1040EZ:

If the individual fills the form of 1040, then he is not eligible to complete the Form 1040EZ. The individual, company, or institutions can opt in only one form. The individual opts for the form according to his eligibility to fill that form. 1040EZ form can opt by those people who have income less than $100,000. The individual does not claim any deductions.

Justification for the correct and incorrect answer:

You own home: This option is correct.

The form 1040 is complete instead of 1040EZ form in case of own the property and home is considered as property.

You make less than $100,000: This option is incorrect.

Form 1040EZ is completed in the case of an individual have less than $100,000. So, this option is incorrect.

You do not claim any dependents: This option is correct.

Form 1040EZ is completed in case of individual does not claim any dependents. So, this option is incorrect.

None of the above: This option is incorrect.

Option A is correct; one of the Options is correct. So, this option cannot be valid.

Learn more:

1. Learn more about tax for selling property

brainly.com/question/2617534

2. Learn more about state income tax

brainly.com/question/2996312

3. Learn more about personal taxation

brainly.com/question/1762937

Answer details:

Grade: Middle School

Subject: Taxation

Chapter: Tax Form

Keywords: complete 1040, instead of 1040 EZ, own a home, less than $100,000, and standard deductions, claim any dependents, reducing the tax liability.

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3 years ago

As product adopters in the diffusion of innovation, members of the early majority Group of answer choices

Luden [163]

Answer:

The correct answer is letter "B": are deliberate and use many informal social contacts.

Explanation:

Sociologist and Professor E.M. Rogers (1931-2004) proposed The Diffusion of Innovations Theory which is a concept that relates several consumers' factors with the time they take to adopt technological innovation. Those influential factors are individuals' opinions and the rate at which they can interact with the innovation. According to the theory, consumers can be classified into five (5) groups:

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3 years ago

In porter's generic competitive strategies, which strategy combines a focus on a total market scope and a competitive cost advan

Vanyuwa [196]

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<h3>What is focus strategy?</h3>

A focus strategy is a competitive tactic used to target marketing and sales at a certain market niche. Utilizing underserved or untapped markets is the goal of this technique.

While many rivals want to reach as many clients as possible with their sales, a focus approach chooses one or more certain categories. It gains an advantage by providing that sector with either high quality or low cost. These actions may improve client loyalty.

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2 years ago

Select the two terms that are incorrectly formatted per the USGBC trademark policy:

Vedmedyk [2.9K]

Answer:

b. US Green Building Council

c. LEED GA

Explanation:

U.S Green building council is a non profit organization that are formed to promote sustainability within the built environment and has been releasing versions of the LEED rating systems since 2000. USGBC trademark policy are created to help our brand assets more consistently and correctly. Here, brand assets include trademark and logos. They look into every details of logo and trademark, like placement of mark, which text, intention of use, etc.

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3 years ago

Serenity, Inc.'s Receivable increased by $ 43 comma 000 and its Accounts Payable increased by $ 23 comma 000. What is the net e

Shalnov [3]

Answer:

A net cash outflow or cash used up of $20,000

Explanation:

The statement of cash flows show the movement in cash balances between the start and end of an accounting period. This movement is as a result of 3 groups of activities namely; operating, investing and financing activities.

Cash activities related to elements of working capital are recognized in the operating section. An increase in a current asset other than cash is treated as an out flow of cash while an increase in a current liability is treated as an inflow of cash and vice versa.

Hence the net effect on cash from operations under the indirect method

= -$43,000 + $23,000

= -$20,000

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3 years ago