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
Aliun [14]
3 years ago
8

This year Randy paid $28,000 of interest. (Randy borrowed $450,000 to buy his residence, which is currently worth $500,000.) Ran

dy also paid $2,500 of interest on his car loan and $4,200 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances?
a. Randy received $2,200 of interest this year and no other investment income or expenses. His AGI is $75,000.
Interest Deductible $.......

b. Randy had no investment income this year, and his AGI is $75,000.
Interest Deducttible $.......
Business
1 answer:
KATRIN_1 [288]3 years ago
3 0

Answer:

A.- Randy can deduct $30,200  The interest on the loan of the car is nondeductible personal interest, but he can deduct all $28,000 on the home loan as an itemized deduction.   The $4,200 of margin interests is likely investment interest, and this itemized deduction is limited oto net investment income. $2,200 of interest income qualifies as investment income and he apparently has no other invesstment expenses, the investment interest expense would be limited to Randy´s $2,200 in net investment.

B. He may deduct all %28,000 of his interest on the home loan

You might be interested in
The aggregate demand aggregate supply mode is quite useful tool for us to understand the economy. So far, we saw only one change
timurjin [86]

Answer:

Explained below

Explanation:

1) From the question, we can deduce that in the short run, there will likely be news of the discovery/invention of a super vaccine which will make the consumers and the businesses to be optimistic about the future of the economy. Therefore, this will in turn lead to an increase in consumption by consumers and thus also lead to an producers making an increase in investment.

2) From answer 1 above, since there is an increase in consumption as well as investment, this will in turn also lead to an increase in the aggregate demand of the economy. Whereas, we are told that the oil market is calm and therefore we can say it does not have an effect on the supply curve.

From the first image attached, increase in the aggregate demand led to an increase in price level from point P to P1 on the y-axis while output output level increased from point Y to point Y1 on the x-axis.

3) In the long run, due to the increase in demand in the short run that makes the supply curve shift to its right, it means the producers will have more of the goods produced. This will in turn reduce the price to its initial level and also increase the output level. From the second diagram, this will lead to a shift long run aggregate supply from LRAS to LRAS1 on the x-axis.

8 0
3 years ago
Choose the preferred sentence from each pair and justify your choice. a. (1) Lindsay's request to telecommute was denied, but sh
mr_godi [17]

Answer:

(2). Although her request to telecommute was denied, Lindsay will begin a flextime schedule in two weeks.

Explanation:

The second choice would be the most preferred as it conveys the idea in a formal and precise manner. <u>The complex sentence beginning with the subordinate clause already hints the listener that the key message is yet to come. It helps him/her in understanding the intended message without any confusion</u>. The first sentence fails to create that specificity as it connects two independent ideas which remove the listener's focus from the main idea i.e. 'she will begin a flextime schedule in two weeks.' Thus, option (2) adopts the correct format and sentence structure to deliver the message effectively, efficiently, and precisely.

4 0
3 years ago
Help me please... help
il63 [147K]
Mate your answer is B

Hope my answer helps you
5 0
3 years ago
Read 2 more answers
Newham Corporation produces and sells two products. In the most recent month, Product R10L had sales of $23,000 and variable exp
Talja [164]

Answer:

$865.75

Explanation:

The computation of break even point is given below:-

Total sales

= $23,000 + $36,000

= $59,000

Total variable cost

= $10,000 + $17,660

= $27,660

So, contribution margin = Total sales = Total variable cost

= $59,000 - $27,660

= $31,340

Profit volume ratio = (Contribution margin per unit) ÷ (Total sales) × 100

= $31,340 ÷ $59,000 × 100

= 53.11%

Since, the break even point = Fixed cost ÷ profit margin ratio

= $45,980 ÷ 53.11%

= $865.75

3 0
3 years ago
The two major benefits that arise from the market system's restriction of business risk to owners and investors are:________
lutik1710 [3]

The key advantage of risk management for those involved is that it makes it possible for the project to run smoothly. The possibility of achieving desired results is raised, decision-making is facilitated, and responsibility is distributed to risk owners.

Greater emphasis on regulatory outcomes, resources, and actions across the entire organization. Greater adaptability to changing circumstances increased transparency through accountability and transparent results.

Risk stakeholders are the individuals who are (or believe they are) impacted by a choice, course of action, tactic, or procedure. A stakeholder may change at any point during the process and might be an individual, an organization, or a grouping within an organization, such as the management.

The two major benefits that arise from the market system's restriction of business risk to owners and investors are Risk Management

To learn more on risk management

brainly.com/question/4680937

#SPJ4

6 0
1 year ago
Other questions:
  • When leo burnett combines advertising, personal selling, public relations, and sales promotion into one comprehensive, unified p
    14·2 answers
  • Sam is currently saving $50.00 from every paycheck. What step from The Five Stages of Investing has he reached?
    15·1 answer
  • Suppose a technological improvement has lowered the cost of manufacturing cell phone batteries. This would lead to in the supply
    8·1 answer
  • A coffee company wants a new flavor of Cajun coffee. How many pounds of coffee worth $ 8$8 a pound should be added to 2020 pound
    15·1 answer
  • Mr. Jacob, who is terminally ill, writes a will transferring all his assets to his daughter Silvia, in the event of his death. T
    14·1 answer
  • Finished goods that have not yet shipped to
    10·2 answers
  • Suppose on august 27, there were 1,455 stocks that advanced on the nyse and 1,553 that declined. the volume in advancing issues
    12·1 answer
  • Adelphi Company purchased a machine on January 1, 2017, for $70,000. The machine was estimated to have a service life of ten yea
    15·1 answer
  • The House manufacturers two different skateboard models. The company produces products using standardized production runs. The c
    13·1 answer
  • What is a marketing strategy that supports environmental stewardship, thus creating a differential benefit in the minds of consu
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!