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
ASHA 777 [7]
3 years ago
6

Stacey inherits unimproved land (fair market value of $6 million) from her father on June 1, 2019. She disclaims her interest in

the property as follows: one-third on December 1, 2019; one-third on January 3, 2020; and the remaining one-third on May 31, 2020. In all cases, the disclaimers pass the interest to her son (the next heir under state law). The Federal gift tax applies to Stacey for:
Business
1 answer:
Arte-miy333 [17]3 years ago
4 0

Answer:

The disclaimer made on May 31, 2018.

Explanation:

IRS Section 2518(b) regarding Estate and Gift Taxes states:

<em>"A taxpayer may make a qualified disclaimer no later than 9 months after the date on which the transfer creating the interest is made, or the date the person attains age 21." </em>

Since Stacey's interest was created on June 1, 2019, the 9 month grace period ended on March 1, 2020. Therefore the last disclaimer made on May 31, 2020, will be subject to federal gift taxes.

You might be interested in
An example of a difficult work decision would be: a. Deciding to finish a task before taking a break b. Deciding to fill the pap
Angelina_Jolie [31]

Answer:

c

Explanation:

8 0
3 years ago
A truck acquired at a cost of $80,000 has an estimated residual value of $8,000, has an estimated useful life of 200,000 miles,
laila [671]

Answer:

a. The depreciable cost is $72000.

b. The depreciation rate is $0.36 per mile.

c. The depreciation expense for the year is $6480.

Explanation:

a.

The depreciable cost is the cost that is eligible for depreciation. It is calculated by deducting the residual value from the cost of the asset.

Depreciable cost = Cost - residual value

Depreciable cost = 80000 - 8000 = $72000

b.

The depreciation rate can be calculated by dividing the depreciable cost by the total estimated useful life of the asset.

The depreciable rate = 72000 / 200000 = $0.36 per mile driven

c.

The units of activity depreciation for the year is,

Depreciation expense = 0.36 * 18000 = $6480

6 0
3 years ago
On her way to visit her parents, Jennifer drives 265 miles in 5 hours.
Zolol [24]
Speed = distance/time
           = 265/5
           = 53 mph

hope this helps :)


4 0
3 years ago
30 POINTS!<br><br> PLEASE HELP ME. CAREER RESEARCH!<br><br> JUST FILL IT IN.
horsena [70]

Answer:

Please find below the links of each site and its description

Occupational outlook handbook outlook Option B

Indeed.com   Option D

Fun works     Option F

College Scorecard Option E

CareerOne Stop    Option C

National Career fairs Option A

LinkedIn     Option G

8 0
3 years ago
Petrenko Corporation has outstanding 2,000 $1,000 bonds, each convertible into 50 shares of $10 par value common stock. The bond
cricket20 [7]

Explanation:

The Journal entry is given below :-

Bonds payable                                      $2,000,000

      To common stock                          $1,000,000

      To Discount on common stock     $30,000

      To Paid in capital                            $970,000

The calculation of bonds payable, common stock is below:-

For bonds payable            

= 2,000 × $1,000

= $2,000,000

For common stock

= 2,000 × 50 × $10

= $1,000,000

For paid in capital

= $2,000,000 - ($1,000,000 - $30,000)

= $970,000

4 0
3 years ago
Other questions:
  • Dinklage Corp. has 6 million shares of common stock outstanding. The current share price is $84, and the book value per share is
    15·1 answer
  • Jimmy Company uses the weighted-average method in its process costing system. The ending work in process inventory consists of 9
    10·1 answer
  • "The media doesn't tell us what to think, but it tells us what to think about" describes the _____ function of the media.
    5·1 answer
  • A person who invests in a business but takes no part in the day to day operations of the business is called a(n)
    9·1 answer
  • No formal steps are necessary to create a sole proprietorship. True or false?
    6·1 answer
  • Gerald's had opening total stockholders' equity of $160,000. During the year, total assets increased by $240,000 and total liabi
    13·1 answer
  • Asset management ratios are used to measure how effectively a firm manages its assets, by relating the amount a firm has investe
    14·1 answer
  • ound Hammer is comparing two different capital structures: An all-equity plan (Plan I) and a levered plan (Plan II). Under Plan
    14·1 answer
  • Giả sử rằng một nền kinh tế có 1000 công nhân, mỗi người công nhân làm việc 2000 giờ một năm. Nếu sản lượng thực tế bình quân mộ
    11·1 answer
  • How long does it take for your tax return to be processed?.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!