Answer:
$31,000
Explanation:
Given:
Net Proceeds of old house = $266,000
Adjusted basis amount = $235,000
Cost of new house = $198,000
Computation of Capital Gain:
Capital Gain = Selling Price of particular capital - Adjusted basis amount of capital
Capital gain = $266,000 - $235,000 = $31,000
Therefore, capital gain of Elizabeth from sold her home is $31,000
Answer:
$3,500 and deferred tax liability
Explanation:
The computation of the deferred tax is shown below:
= Service performed × tax rate
where,
Service performed is $10,000
And, the tax rate is 35%
Now placing the values
The amount of deferred tax is
= $10,000 × 35%
= $3,500
This amount reflect the deferred tax liability
We simply multiplied the service performed amount with the tax rate so that the deferred tax could come
I would say that the answer is true.
What kind of energy like solar panels and windmills.
