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adell [148]
4 years ago
7

Mickey and Jenny Porter file a joint tax return, and they itemize deductions. The Porters incur $2,300 in investment expenses. T

hey also incur $3,500 of investment interest expense during the year. The Porters’ income for the year consists of $156,000 in salary, and $2,920 of interest income.
Business
1 answer:
Veseljchak [2.6K]4 years ago
4 0

Answer:

$3500 is deductible

Explanation:

The question is not complete . Please see the solution below :

The Investment Interest expense can be set off against Net Investment income ( Interest income - Investment expenses i.e $25000-$2000=$23000) to the extent and the remaining is carried forward to the next year. so here the investment interest expense is wholly set off against the interest income i.e $3500 is deductible

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Answer:

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Explanation:

Hopefully this helps!

3 0
3 years ago
Match the following terms to the correct definition. The maximum expected output capability of a resource or system. An approach
tamaranim1 [39]

Answer:

The maximum expected output capability of a resource or system. - Is the definition of <u>Design Capacity.</u>

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5 0
3 years ago
If the new business will last only for the next five years, so she can take the profits from the new business for five times sta
Tresset [83]

Based on the profits of the new business, the size of the value of the new business would be $282,860.

<h3>What would be the value of the new business?</h3>

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The value of the new business is therefore:
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In conclusion, the value would be  $282,860.

Find out more on present value of annuities at brainly.com/question/25792915.

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2 years ago
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likoan [24]

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Explanation:

Got this right on plato

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3 years ago
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