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Lana71 [14]
3 years ago
13

Edward is a partner in ENS, Ltd. The partnership generated a loss during the current year. Edward's share of the loss was $7,000

. How should Edward handle the loss for tax purposes assuming there are no basis, at-risk, or passive loss limitations?
Business
1 answer:
antiseptic1488 [7]3 years ago
3 0

Answer:

Edward can deduct his $7,000 loss from his adjusted gross income (AGI). Partnerships are investments that you make regardless of whether you work for them or not. One of the key characteristics of partnerships is that they are not taxed as separate entities, they pass-through their income or losses to the  partners.

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Lelu [443]

Answer:

Yes

Explanation:

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There is no need for formal presentation of evidence.

I'm the given scenario the plaintiff produced three well-known chemistry texts containing explanations of the formula and asked the court to take judicial notice of the formula for the compound.

Since the formula is well known and even contained in well known chemistry texts, the court should take judicial notice of the formula

8 0
3 years ago
You invest in a project that has a depreciable asset. The asset is depreciable under the 5year MACRS category. The depreciation
hodyreva [135]

Answer:

c.$28,800

Explanation:

Depreciation of the asset is calculated using the following formula:

Depreciation=Cost of Asset*Depreciation percentage for specific year

Keeping in mind the above formula, depreciation can be calculated as follow:

Cost of Asset=$150,000

Depreciation for year 1=150,000*0.20=$30,000

Depreciation for year 2=150,000*0.32=$48,000

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Therefore, the answer is c.$28,800

8 0
3 years ago
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svp [43]

Answer:

PERT ( Program Evaluation Review Technique)

Explanation:

PERT stands for Program Evaluation Review Technique. PERT charts are tools used to plan tasks within a project - making it easier to schedule and coordinate team members accomplishing the work.  

PERT is a project management planning tool used to calculate the amount of time it will take to realistically finish a project.

Hence PERT is a technique to analyze and sequence tasks involved in completing a project, to estimate the time needed to complete each task, and to determine the minimum amount of time needed to complete each project

6 0
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Thus, from the above we can conclude that the correct answer is stimulus diffusion.

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Mars2501 [29]
Arts Direction
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5 0
3 years ago
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