Answer:
B. potential Gross
Explanation:
Potential gross income refers to the gross income at 100% occupancy. On the other hand, effective gross income takes into account vacancy as well as other variables like collection loss.
Answer: it doesn't matter.
Explanation:
It doesn't matter how much money you make along as you have money to support yourself
Answer:
Student responses will vary, but should include: A young investor has years of earning power and can take greater risks because he/she has time to make-up for losses. An older investor needs more security and current income from their investments because they are using it to retire on or they need it to continually grow so that they can retire.
Explanation:
Answer: $107,500
Explanation:
There is an "Exclusion of gain on sale of home" provision by the IRS that allows for a single tax payer to exclude up to $250,000 from the sale of their primary home. A home qualifies as primary if the owner has lived in it for 2 years or more so Steve's home here is a primary home.
The gain he received was:
= 705,000 - 347,500
= $357,500
From this gain, $250,000 can be excluded so total gain recognized:
= 357,500 - 250,000
= $107,500
Answer:
Timeshare properties
Explanation:
Numerous individuals or families own a timeshare property. Each owner is allocated a specified duration of time to stay in the property. Timeshare properties are common in the tourism sector and are located near popular vacation destinations.
The most common forms of timeshare properties are vacation resorts, condominiums, apartments, and campgrounds.
