The exclusion of gain on the sale of a personal residence may be elected only by a taxpayer who has owned three or more residences if the tax payer uses the installment method to sale of property.
Explanation:
The present law provides the recognition of roll over and gain on the sale of tax payer. This rule is applied to the purchase price of the replacement residence that equals or exceeds the sale price of residence sold.
The bill has the benefits of exclusion for the individuals who receive compensation from U.S or other agency.
The taxpayers exclude all the portion of gain from the involuntary conversion of principal residence if they had ownership and requirements.
Answer:
Principal
Explanation:
A loan can be defined as the lending of money, property, etc by one party to another party. A loan is more often than not given out by financial institutions.
The money is loaned between parties, the original amount borrowed by the receiving party is called the PRINCIPAL.
This principal begins to reduce as soon as the money starts to be paid back.
Every principal(loan) has an interest. The interest is always at a particular rate, spread over a period of time, etc.
Cheers.
Megan could accuse Techtronic of engaging in <u>d. defamation</u>.
<u>Explanation</u>:
Defamation means causing damage to the good reputation of someone. Making of false or offensive statement about an individual’s behavior or character leaves a bad impression about the individual.
Defamation may be oral or published.
In the above scenario, there was no evidence against Megan regarding racial discrimination. Robin shared the details about Megan with the caller without knowing the situation correctly. This caused defamation of Megan which may lead him to refrain from hiring in the new company.
Answer:
$52,526
Explanation:
In two years i have $35,000.
the amount invested thus the Principle amount is $35,000
Pv = $35,000
r = 7 %
PMT = $0
n = 6
Fv = ?
Note that The 8 th year is the sixth year of this investment.
FV = PV × (1 + r) n
= $35,000 × ( 1 + 0.07) 6
= $52,525.56
= $52,526
Answer:
Yes he can use FHA
Explanation:
Because FHA Loans are the most forgiving of foreclosures. To qualify for an FHA mortgage loan, you must wait at least three years after the foreclosure. The three year clock starts ticking from the time that the foreclosure case has ended, usually from the date that you prior home was sold in the foreclosure preceeding. If the foreclosure also involved an FHA loan, the three year waiting periods starts from the date that FHA paid the prior lender on its claim
