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
Alex_Xolod [135]
3 years ago
7

Sean and Jenny own a home in Boulder City, Nevada, near Lake Mead. During the year, they rented the house for 40 days for $3,000

and used it for personal use for 18 days. The house remained vacant for the remainder of the year. The expenses for the house included $14,000 in mortgage interest, $3,500 in property taxes, $1,100 in utilities, $1,300 in maintenance, and $10,900 in depreciation. What is the deductible net loss for the rental of their home (without considering the passive loss limitation)? Use the Tax Court method for allocation of expenses.
Business
2 answers:
SOVA2 [1]3 years ago
8 0

Answer: 0

Explanation: Personal or rental properties aren't subjected to net loss deduction. Sean and Jenny could have chosen to rent out the property for more than 40 days or stayed in the building more than they did. The property being personal is not subject to net loss deduction resulting from mortgage payment, utility and property tax and depreciation. In other to reduce or prevent the net loss incurred in subsequent years, Sean and Jenny could probably lease or put the property up for rent for a substantial portion of the year.

kipiarov [429]3 years ago
4 0

Answer:

Answer is a i.e. 0.

Explanation:

No net loss is allowed for personal/rental properties.

You might be interested in
Anne is a full-time student at UCLA buts works part-time as a waitress at a diner near her dormitory. She earns an hourly wage b
miss Akunina [59]

Answer:

In California, if the tip is included in the service charge, Anne's employer must pay taxes for them. The employer is required to pay for these taxes in California, not the employee. Even though tips are not part of an employee's wage, they are still taxable. This means that Anne must include the $51 in her AGI.

5 0
3 years ago
How do the choices consumers make impact business decisions?
ki77a [65]

Answer:  B

Explanation: Businesses are run by consumers, so the choices those consumers make will find their way into business decisions. b. Businesses can track the trends of what consumers are and are not buying, and will attempt to cater to the desires of those who provide them with profits.

3 0
3 years ago
Read 2 more answers
Questioñ 2 (1 point)
BlackZzzverrR [31]

Answer:

business, management, and administration cluster

Explanation:

Business Management and Administration Career Cluster emphases on careers in planning, organizing, directing, and evaluating business functions.

8 0
3 years ago
The balance sheet below reflects Zee Bank after its purchase of $50 million in government securities from the Fed. Assume a requ
UkoKoshka [18]

Answer:

$500 million

Explanation:

The solution of the money supply and its effect is here below:-

Decrease in money supply = $50 million ÷ reserve ratio

= $50 million ÷ 10%

= $500 million

If $50 million were used to repay loans, that will have raised money supply. Thus, buying $50 million in government securities from the fed reduces the supply of capital.

3 0
3 years ago
Suppose you have a two-stock portfolio consisting of Apple and Tesla stock. The portfolio weight of Apple is 25% and the rest is
iren [92.7K]

Answer:

Standard deviation = 47.69% (Approx)

Explanation:

Given:

Portfolio of Apple stock w1 = 25% = 0.25

Portfolio of Tesla stock w2 = 75% = 0.75

Standard deviation return Apple σ1 = 35% = 0.35

Standard deviation return Tesla σ2 = 60% = 0.60

Correlation coefficient ρ12 = 0.22

Find:

Standard deviation

Computation:

Standard deviation = √w1²σ1² + w2²σ2² + 2w1σ1w2σ2ρ12

Standard deviation = 0.4769

Standard deviation = 47.69% (Approx)

4 0
3 years ago
Other questions:
  • Marina Manufacturing is considering buying new equipment for its factory. The new equipment will reduce variable labor costs but
    12·1 answer
  • Where to find your social security number?
    13·1 answer
  • When you exchange documents with your co-workers through organization-approved methods, this is considered __________?
    11·1 answer
  • According to conflict theorists, schools:
    5·1 answer
  • Marcia is the top leader of the matrix structure for an international company manufacturing environmental compliance equipment.
    8·1 answer
  • Study the following transactions . Journalize the transactions in a two-column journal, using the appropriate number to identify
    12·1 answer
  • Select the FALSE statement from below: A. The National Response Framework explains how, at all levels, the nation effectively ma
    8·2 answers
  • If research in the management area cannot be 100% scientific, why bother to do it at all? Comment on this question
    11·1 answer
  • Which should Jill do to increase her credit score?
    13·2 answers
  • Every business has the same code of ethics? T or F
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!