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lana66690 [7]
3 years ago
12

In the current year, a taxpayer reports the following items: Salary $50,000 Income from partnership A, in which the taxpayer mat

erially participates 20,000 Passive activity loss from partnership B (40,000) During the year, the taxpayer disposed of the interest in partnership B, which had a suspended loss carryover of $10,000 from prior years. What is the taxpayer's adjusted gross income for the current year
Business
2 answers:
ollegr [7]3 years ago
5 0

Answer:

Usually, passive loss cannot be taken without passive gain.

but when that passive activity interest has been sold in that year, the loss in that activity can be taken

Explanation:

Aloiza [94]3 years ago
5 0

Answer:

$20,000

Explanation:

taxpayer's adjusted gross income = salary ($50,000) + income from partnership ($20,000) - passive loss from partnership ($40,000) - previously suspended carryover loss ($10,000) = $20,000

The salary and partnership income increase taxable income. Since the passive losses were attributable to passive activities form the partnership, they will decrease the taxpayer's income (including the carryover loss).

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Individuals and business organizations that buy finished goods and resell them to make a profit without changing the physical ch
marysya [2.9K]

Answer: reseller markets

Explanation: In simple words, re-sellers refers to the buyers buying certain goods with the intention of selling them to anyone else. There are suppliers, retailers and distributors on the re-seller trade.

Re sellers can constrain their acquisitions to one product or company or offer a variety of brands and products.

These are the part of supply chain which makes their profit by adding value in the goods in form of providing any kind of service. For example the retailer provides commodities near the customer place hence charges extra for the time saving customer.

4 0
3 years ago
The general message of the full disclosure principle is that: a. information is symmetric. b. information is costly to fake. c.
erica [24]

Based on financial and accounting principles, the general message of the full disclosure principle is that "<u>the lack of evidence that something resides in a favored category will often suggest that it belongs to a less favored one."</u>

This is because the full disclosure principle state that all information should be documented in a company or individual financial statements which are believed to affect a reader's knowledge of that specific financial statement.

This ensures that every party that needs to access the financial statements under concern should fully understand them without missing any form of information.

Otherwise, any missing link or information will be ruled in favor of the less favored party in a legal situation.

Hence, in this case, it is concluded that the correct answer is option D.

Learn more here: brainly.com/question/24280368

6 0
3 years ago
While the personal computer industry is flooded and growing with laptops and tablets, Malik recently bought a desktop, his first
kolezko [41]

Answer:

A: Laggards.

Explanation:

  • Willingness of customers to try out new products.

There are 5 types of adapters, identified by Sociologist Evrett Roger in 1962:

  1. Laggards.
  2. Early adopters.
  3. Early majority.
  4. Category captains.
  5. Late majority.

Laggards: These are those customers who adopt to new ways slowly, after those ways would have become normal for the world.

  • Such as malik realized the essential need for laptop lately, however the market was filled with the product.
6 0
3 years ago
A(n) ________ is a written agreement in which the owner of a piece of property allows an individual or business to use the prope
natka813 [3]

Answer:

Lease

Explanation:

A lease is a contractual agreement between a lessee and a lessor, where the lessee promises to pay the lessor for the usage of his assets. Here, the assets usually leased are properties, industrial or business equipments, buildings and vehicles and are used for a specified period of time in exchange for payments.

The lessee is the one making use of the assets, while the lessor is the one receiving value for the assets leased. Unlike a rent which payment is made regularly upon its expiration usually monthly, a lease is usually for a specified period of time.

3 0
2 years ago
Here your picture!yay
lapo4ka [179]

very pretty but dont have that money :(

3 0
2 years ago
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