1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SIZIF [17.4K]
3 years ago
8

Serena is single. She purchased her principal residence three years ago. She lived in the home until she sold it at a $300,000 g

ain this year. Serena was allowed to exclude $250,000 of the $300,000 gain. What is the character of the $50,000 gain she was not able to exclude?
Mathematics
1 answer:
Lesechka [4]3 years ago
7 0

Answer: Long -term capital gain

Step-by-step explanation:

Serena is single, so based on the Taxpayer Relief Act of 1997, she would pay no capital gains tax on the first $250,000 gain.

Therefore, $300,000 - $250,000 =  $50,000

<em>The remaining $50,000 gain is taxable because of her being single and it has been her principal residence for three years.</em>

You might be interested in
Write the expresion in simplest form<br> (-11/2x+30)-2(-11/4x-5/2)
qwelly [4]

The simplified expression of (-11/2x+30)-2(-11/4x-5/2) is 35

<h3>How to simplify the expression?</h3>

The expression is given as:

(-11/2x+30)-2(-11/4x-5/2)

Expand the bracket

-11/2x + 30 + 11/2x + 5

Collect the like terms

11/2x -11/2x + 30 + 5

Evaluate the like terms

35

Hence, the simplified expression of (-11/2x+30)-2(-11/4x-5/2) is 35

Read more about expressions at:

brainly.com/question/723406

#SPJ1

4 0
2 years ago
A wire is 50 inches long. Where should the wire be cut so that it forms 2 pieces one made into a circle and one made into a squa
jok3333 [9.3K]

Answer:

In the middle because half of 50 inches is 25 inches.

Step-by-step explanation:

4 0
3 years ago
Name the lengths of the sides of three rectangles that have a perimeter of 14 units
erma4kov [3.2K]

If you don't mind being around fractions and decimals, then there are an
infinite number of possible rectangles with the perimeter of 14.

If you'd rather just stick with whole numbers, then there are three choices:
 
--  1 unit by 6 units

--  2 units by 5 units

--  3 units by 4 units


6 0
4 years ago
Read 2 more answers
What times7 equal 20?
Levart [38]
7x3=21 idk if that helps any
5 0
3 years ago
Read 2 more answers
What is the area of this parallelogram?
motikmotik

Answer:

can you put a picture

Step-by-step explanation:

so I can answer this question

6 0
3 years ago
Read 2 more answers
Other questions:
  • What is the mode or modes?<br> 4,2,4,0,0,3,4,4,0,0
    13·1 answer
  • Let f(x) =7x-13. Find f -1(x)
    15·2 answers
  • PLEASE PLEASE ANSWER I WILL MARK AS BRAINLIST
    14·2 answers
  • Please guys help me pls :(​
    15·1 answer
  • Beryl made the following matrices about students at her school: Text messages sent by sophomores, juniors and seniors Monday — T
    14·2 answers
  • 4 cos²x – 1=0<br><br> What is the solution?
    10·1 answer
  • I need all the spaces filled in please :)
    12·1 answer
  • 3/4 ( 16x - 27 - 1 )​
    14·2 answers
  • Simplify the equation​
    8·1 answer
  • May I please receive help?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!