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salantis [7]
3 years ago
8

Richard donates publicly traded Gold Company stock with a basis of $1,000 and a fair market value of $15,000 to the college he a

ttended, which is considered a public charity. Richard has owned the shares for 10 years.
1. How is this contribution treated on Richard's tax return?
2. Assuming his adjusted gross income is at least $50,000, Richard can to deduct $_____on his Schedule A.
3. However, Richard may elect to use the 50 percent AGI limitation and deduct $_______.
Business
1 answer:
Rufina [12.5K]3 years ago
7 0

Answer:

1. How is this contribution treated on Richard's tax return?

Richard can deduct this donation as a qualified contribution to a charity.

2. Assuming his adjusted gross income is at least $50,000, Richard can deduct <u>$15,000</u> on his Schedule A.

Qualified contribution deductions of long term capital gains are limited to 30% of AGI, and in this case, Richard can deduct the full amount.

3. However, Richard may elect to use the 50 percent AGI limitation and deduct <u>$1,000</u>.

Richard can elect to deduct only the basis of the stock, but who likes to pay more taxes?

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alisha [4.7K]

Answer:

C. The capacity to empathize and act effectively across cultures.

Explanation:

Since in the question it is mentioned that the use the words and behavior that are compatible with the new york local culture so here the global mindset that arise in her life represent the attribute with related to the capacity for empathizing and it act effectively over and across the culture

so as per the given situation, the option c is correct

7 0
3 years ago
Month-end &amp; Year-end process helps to write-off bad debts.
Katyanochek1 [597]

Answer:

False

Explanation:

It is FALSE that Month-end and Year-end process helps to write-off bad debts.

This is because both month-end and year-end processes are processes specifically carried out to adjust all account balances to make and depict the actual financial activities of the firm. This assists the firm's management team to make a further decision, but not to just write-off bad debts.

Bad debt is written off only when a customer invoice is deemed to be uncollectible.

5 0
3 years ago
A licensing agreement: a. is the best way to protect proprietary technology from future competitors. b. can be greatly impacted
cupoosta [38]

Answer:

c. allows a foreign firm to purchase the right to manufacture and sell a firm's products within a host country.

Explanation:

  • The licensing agreement is a legal contract between the parties knows as licensor and the licensee, where the licensor allows for the sales of the goods and to apply the brand name of the product or use the patent technology.  
  • As it usually refers to a written contract and the payment s termed as loyalty. Any failure to follow the agreement may lead to the termination of the license and the payments.
8 0
3 years ago
Difference between qualified and ordinary dividends
DedPeter [7]

Answer:

A qualified dividend is taxed at the capital gains tax rate and ordinary dividends are taxed at standard federal income tax rates. Qualified dividends must meet special requirements put in place by the IRS.

Explanation:

4 0
2 years ago
Jonathan cowan is upset because he was passed over for a promotion he had really worked hard for. in response to his anger towar
Dmitry_Shevchenko [17]

I guess the correct answer is deviant workplace behavior.

Jonathan Cowan is upset because he was passed over for a promotion he had really worked hard for. In response to his anger toward the manager and the company, he has started gossiping about the manager with his colleagues and assigning blame on him unnecessarily. Jonathan's behavior is an example of deviant workplace behavior.

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