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ziro4ka [17]
3 years ago
13

For regular tax purposes, with regard to the itemized deduction for qualified residence interest, home equity indebtedness incur

red during a year:
a. Includes acquisition indebtedness secured by a qualified residence.
b. May exceed the fair market value of the residence.
c. Must exceed the taxpayer's net equity in the residence.
d. Is limited to $100,000 on a joint income tax return.
Business
1 answer:
mojhsa [17]3 years ago
7 0

For regular tax purposes, with regard to the itemized deduction for qualified residence interest, home equity indebtedness incurred during a year: Is limited to $100,000 on a joint income tax return.

Explanation:

The debt of household property is entitled to a joint return of $100,000. Home equity debt is any mortgage not obtained by a qualifying property.  

The reasonable market value of the home shall not be greater than that of the purchase loan or the lesser amount of $100,000.  

The debt to purchase, create, and substantially improve a qualifying residence is the debt owed in the purchasing, construction and securing of such house (a 1 million dollars limited).  

The certain value on debt that outperforms these limits can not be subtracted.

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Houston Pumps recently reported $172,500 of sales, $140,500 of operating costs other than depreciation, and $9,250 of depreciati
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Answer:

b. $4,213

Explanation:

Net Operating Profit = Sales - Operating costs - Depreciation Expenses

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Free Cash Flow (FCF) = Net operating income*(1 - Tax Rate) + Depreciation Expenses - Capital Expenditures - Changes in Net Working Capital

Free Cash Flow (FCF) = $22,750 *(1 - 0.25) + $9,250 - $15,250 - $6,850

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3 years ago
AutoZone and O'Reilly are two competitors in the retail automotive parts industry.
sineoko [7]

Answer:

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