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kirza4 [7]
3 years ago
15

Mr. and Mrs. Jones sold their principal residence for $750,000. They had lived in their residence for 20 years, and it had an ad

justed basis of $210,000. The Joneses have decided not to purchase a new home and will instead rent a condominium on the beach. What amount of gain must they recognize on this transaction?
a. $0b. $540,000c. $750,000d. $40,000
Business
1 answer:
IceJOKER [234]3 years ago
7 0

Answer:

D) $40,000

Explanation:

The Joneses qualify for a Section 121 exemption since they lived at their house for 20 years. They are exempted from paying capital gains taxes on the first $500,000 ($250,000 if single) in realized gains from selling their home.

Joneses taxable gain = $750,000 (sales price) - $210,000 (basis) - $500,000 (section 121) = $40,000

They will have to recognize only $40,000 in gains.

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Suppose you have the following information about a fictitious economy. Assume there are no taxes in this economy. Disposable Inc
djyliett [7]

The equilibrium level of consumption is $28500.

The equilibrium level of consumption is at the point where the disposable income is equal to the consumption.

If this was properly placed in a tabular form, we would clearly see that when the disposable income was at $28500, the consumption in dollars was also at the same price level.

Given this condition, we can conclude in economics that consumption is at its level of equilibrium.

Read more on brainly.com/question/14670879?referrer=searchResults

4 0
2 years ago
1) Banks hold excess and secondary reserves to
o-na [289]
1) Banks hold excess and secondary reserves toA) reduce the interest-rate risk problem.


2) Which of the following statements most accurately describes the task of bank asset management?
b. Banks seek to have the highest liquidity possible subject to earning a positive rate of return on their operations.

3) The goals of bank asset management include
d. purchasing securities with high returns and low risk.

Hope this helps. Have a nice day.
6 0
3 years ago
WILL GIVE BRAINLIEST !!!!!
My name is Ann [436]

Answer:

Slot one is C, Creativity, it's the only one that would really fit into the slot with making sense. Slot two is also C, Recoursefulness.

Explanation:

Creativity only makes sense since work ethic doesn't fit and her answering the question and creating something doesn't prove listening skills. Kevin does use behavorial skills but if you try repeating the sentence back to yourself and put Behavorial Skills in the blank, it doesn't flow like it's supposed to. When you go back to option B and C it's pretty obvious the only answer that would make sense is Recoursefullness, it also proves it in the text; "when he figures out a way to use the materials he has in the office to create the application."

7 0
3 years ago
Read 2 more answers
Which strategy is an effective way to manage risk
eimsori [14]

Answer:

a documenting and sharing a risk

Explanation:

In the world of risk management, there are four main strategies:

Avoid it.

Reduce it.

Transfer it.

Accept it.

9 Types of Effective Risk Management Strategies

Identify the risk. Risks include any events that cause problems or benefits. ...

Analyze the risk. ...

Evaluate the risk. ...

Treat the risk. ...

Monitor the risk. ...

Avoidance. ...

Reduction. ...

Sharing.

8 0
3 years ago
Green Woods sells specialty equipment for mountain climbers. Its sales for last year included $238,000 of tents and $411,000 of
Ivahew [28]

Answer:

By $41,000 the next year's sales are derived from the side effects of adding the new product to its sales offerings.

Explanation:

For calculating the sale for next year, the tent expense and climbing gear is to be considered. With the help of these, the next year sale from the side effects can be derived. The sleeping bag cost is not to be considered so it would not be taken for calculation. The computation is shown below:

=  (Tent Expense Next year  + Climbing gear Next year ) - (Tent Expense Previous year  + Climbing gear Previous year )

= ( $264,000 + $426,000) - ( $238,000 + $411,000)

= ($690,000 - $649,000)

= $41,000

Thus, by $41,000 the next year's sales are derived from the side effects of adding the new product to its sales offerings.

3 0
3 years ago
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