Ask question

Ask question

All categories

3 years ago

12

Jack owns a 10% interest in a partnership (not real estate) in which his at-risk amount is $42,000 at the beginning of the year.

During the year, the partnership borrows $80,000 on a nonrecourse note and incurs a loss of $60,000 from operations. Jack's at-risk amount at the end of the year is $44,000.

1 answer:

Lynna [10]3 years ago

5 0

Answer: The correct answer is : False

Step-by-step explanation: Jack's year-end risk amount is:

10% loss : $ 60,000 x 10% = $ 6,000

$ 42,000 - $ 6,000 = $ 36,000, this is the value of Jack's year-end risk amount

The amount a taxpayer has at risk is increased by the taxpayer's share of additional recourse debt and decreased by the share of losses from the activity. The at-risk amount is not affected by nonrecourse debt.

You might be interested in

Whats its the result Of 25099.506/4.45?

777dan777 [17]

$\dfrac{25099.506}{4.45} \ \text{Divide}$

<span>Shift the decimal points of both 25099.506 and 4.45 to the right by 2 decimal places.
</span>
<span>(This is needed to convert 4.45 to 445, since long division must divide by a whole number.)
</span>
$\text{Set up the long division.}
$

$\text{Calculate 2509 divided by 445, which is 5 with a remainder of 284.}$
<span>
</span> $\text{ Bring down 9, so that 2849 is large enough to be divided by 445.}$

$\text{Calculate 2849 divided by 445, which is 6 with a remainder of 179.} 
$

$\text{Bring down 5, so that 1795 is large enough to be divided by 445.}$

$\text{Calculate 1795 divided by 445, which is 4 with a remainder of 15.}$

$\text{Bring down 06, so that 1506 is large enough to be divided by 445.
}$

$\text{Calculate 1506 divided by 445, which is 3 with a remainder of 171.}$

$\text{Bring down 0, so that 1710 is large enough to be divided by 445.}$

$\text{Calculate 1710 divided by 445, which is 3 with a remainder of 375.}$

$\text{Bring down 0, so that 3750 is large enough to be divided by 445.}$

$\text{Calculate 3750 divided by 445, which is 8 with a remainder of 190.}$

$\text{Bring down 0, so that 1900 is large enough to be divided by 445.}$

$\text{Calculate 1900 divided by 445, which is 4 with a remainder of 120.}$

$\text{Bring down 0, so that 1200 is large enough to be divided by 445.}$

$\text{Calculate 1200 divided by 445, which is 2 with a remainder of 310.}$

<span>Therefore, 25099.506 ÷ 4.45 ≈ 5640.33842</span>

8 0

3 years ago

Why is apr an important tool for consumers

My name is Ann [436]

Answer:

APR, or annual percentage rate, is your interest rate stated as a yearly rate. An APR for a loan can include fees you may be charged, like origination fees. APR is important because it can give you a good idea of how much you'll pay to take out a loan.

6 0

2 years ago

The diameter of a circle is 14 inches. Find the circumstance and area use 22/7

s344n2d4d5 [400]

Answer:

Circumference= 44 in

Area= 154 in²

Step-by-step explanation:

$\boxed{circumference \: of \: circle = 2\pi r}$

Radius

= diameter ÷2

= 14 ÷2

= 7 in

Circumference of circle

$= 2( \frac{22}{7} )(7)$

= 44 in

$\boxed{area \: of \: circle = \pi {r}^{2} }$

Area of circle

$= \frac{22}{7} ( {7}^{2} )$

= 154 in²

3 0

3 years ago

The original price of a coat is $90. It is on sale for 20% off. How much will you pay if you buy the cost during the sale?

ziro4ka [17]

Answer:

72$

Step-by-step explanation

How to insert in a calculator 90-20%= 72

How to take 20% from a price

Divide the original price by 5. <em>18</em>

Subtract this new number from the original one. <em>90 - 18 </em>

The number you calculated is the discounted value. <em>90 - 18 = </em><u><em>72</em></u>

6 0

3 years ago

Read 2 more answers

What is the exterior angle?

olganol [36]

Answer:

angle YUT = 120

Step-by-step explanation:

in Triangle SUT

angle 70 + angle 50 + angle x = 180

70 + 50 + x = 180

120 + x = 180

x = 180 - 120

x = 60

angle SUT = 60

angle SUT + angle YUT = 180 ( straight line)

60 + x = 180

x = 120

Therefore angle YUT ( exterior angle ) = 120

7 0

3 years ago