Answer:
a) The effect the rental activity has on Adelene's AGI is $0.
b) The total rental income is less than the total expenses for the year, so the reportable rental income is $0.
Explanation:
a)
particulars amount amount
rental income $5,000
property taxes $3,800
mortgage interest $7,500
utilities $3,700
insurance $2,500
repairs $2,100
depreciation $15,000
total deduction $34,600
AGI $0
Therefore, The effect the rental activity has on Adelene's AGI is $0.
b)
particulars amount
Real property taxes $3,800
mortgage interest $7,500
utilities $3,700
insurance $2,500
repairs $2,100
depreciation $15,000
total expenses $34,600
Therefore, The total rental income is less than the total expenses for the year, so the reportable rental income is $0.
Hi again!
I don't know why but I feel like your questions are funny at the same time.
Anywayz, the correct answer is option C
It shows friendship and trusted. And this is the best way to introduce someone.
I hope this helps!
Answer:
a) gross pay
c) $1,496.34.
Explanation:
The realized income is the amount you actually received and it is taxable. According to this, the answer is gross pay as it is the money you earn before taxes are deducted.
-Realized income:
$12.75*40= 510*4 = $2,040
FICA (7.65%)= $156,06
Federal withholding (12%)= $244,8
state withholding (7%)= $142,8
$2,040-$156,06-$244,8-$142,8= $1,496.34
Answer:
campaign
store
fundraising
all great examples of buisness objective
Answer:
92 shareholders
Explanation:
According to the S corporation shareholder limit rules, family members count only as 1 shareholder. The meaning of family member is very broad, including spouses, uncles, aunts, children, grandparents, grandchildren, first cousins, and even ex-spouses count as members of the same family.
So that means that Tone Loc, his grandfather, his four cousins, his five children and three of his grandchildren, will all together count as just one shareholder.
His two friends are not included in his family.
