The replacement period ends on December 31,2023 based on the information given about the insurance.
<h3>How to explain the information?</h3>
It should be noted that the replacement period is the period beginning and ending the reimbursement of an equipment.
It should be noted that the replacement will begin on the date when the equipment was stolen. In this case, it will then end two years after the close of the first tax year where the part of gain is realized.
Therefore, the replacement period ends on December 31,2023
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Options
A) September 30, 2023
B) December 31, 2023
C) December 31, 2022
D) December 31, 2021
It can be C because it's accepting the risk to do it
But it can also be B because it's sharing the risk with everyone else
Answer: decrease in expected income
Explanation:
The Great Depression began due to the crash of the stock market in 1929 which caused fear and millions of investors lost their businesses.
This led to the reduction in consumer spending. Also, there was a reduction in investment which caused industrial output decline and decrease in employment opportunities.
Answer:
How much may Adrian deduct?
This depends on whether the museum is private or not. If the museum belongs to a public charity or a university, then Adrian can deduct full fair market value = $35,000. Since Adrian's AGI is $80,000, she could donate up to $40,000 (half her AGI).
But if the museum is a private organization, then Adrian can deduct only her basis in the vase = $15,000
How would your answer to Part a change if, instead of displaying the vase, the museum sold the vase to an antique dealer?
Once you donate artwork, unless you strict prohibit the museum from selling it, then they can sell it and you cannot do anything about it. Some donors specific certain terms for their donations, e.g. artwork cannot be sold and it must be exhibited at least a certain amount of time, in certain places, etc. But if Adrian didn't include any clause on her donation, then whatever happens to the vase is up to the museum.
Currently, museums are less likely to accept restricted donations, unless of course the artwork is worth it.
