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
tatyana61 [14]
3 years ago
11

In 2016, Sarah (who files as single) had silverware worth $10,000 (basis $6,000) stolen from her home. Sarah's insurance company

told her that her policy did not cover the theft. Sarah's other itemized deductions last year were $2,000. She had AGI of $30,000 last year. In August of 2017, Sarah's insurance company decided that Sarah's policy did cover the theft of the silverware and they paid Sarah $5,000. Determine the tax treatment of the $5,000 received by Sarah during 2017.
a. $5,000 should be included in gross income.
b. Last year's return should be amended to include the $5,000.
c. None of the $5,000 should be included in gross income.
d. $2,900 should be included in gross income.
e. None of these choices are correct
Business
1 answer:
-BARSIC- [3]3 years ago
5 0

Answer:

C) None of the $5,000 should be included in gross income.

Explanation:

During 2016, Sarah's itemized deductions (other than the stolen silverware) were only $2,000. If Sarah wanted to deduct the stolen silverware, she could have taken a casualty loss = $6,000 - $100 - $3,000 = $2,900. Her total itemized deductions would equal $2,000 + $2,900 = $4,900.

But during that year, Sarah should have opted for a standard deduction of $6,300 which is higher than her itemized deductions. That means that Sarah didn't claim any deduction for her silverware, so any money received from the insurance company should not be included in her gross income.

You might be interested in
An example of the ____ effect is when BMW gained in-depth information about visitors to a popular Chinese social media site, and
a_sh-v [17]

Answer:

The correct answer is d

Explanation:

3 0
3 years ago
Analyse TWO benefits of being employed in an education sector (2×2=4)
chubhunter [2.5K]

Answer:

Benefits of being employed in the education sector include:

1)Being Exposed to Multiple Perspectives:  Jobs in education tend to expose employees to a wide variety of perspectives and many different opinions.

2) Stable Schedule: Employees in the education sector can rely on a reliable work schedule with stable hours and little overtime. In the education sector, you do not have to work over time. The timings are exact and flexible along with the weekends off.

7 0
3 years ago
Paula is considering the purchase of a new car. She has narrowed her search to two cars that are equally appealing to her. Car A
wolverine [178]

Answer:

Paula should purchase car B.

Explanation:

If Paula purchases car A, then her total payments will be $22,000 ($458.33 per month).

If instead she purchases car B, she will need to finance $20,200 for 3 years and her monthly payments will be $447.11. Total payments = $447.11 x 48 = $21,461.28.

this is an ordinary annuity and in order to calculate the monthly payment you must:

monthly payment = principal / annuity factor (PV, 0.25%, 48 periods) = $20,200 / 45.17869 = $447.1134511 = $447.11.

6 0
3 years ago
How to archive older page on wayback archivemachine?
77julia77 [94]
I believe you have to search a URL of a website on the wayback machine search bar.

Then, you can browse the past-present years of how that website used to look like.

Hope this helps.
7 0
3 years ago
Proficient strategy executiona. is always the product of much organizational learning.b. is achieved unevenly, coming quickly in
iVinArrow [24]

Answer:

The correct answer is e. All of these choices are correct.

Explanation:

The efficient execution of the strategy depends to a large extent on competent personnel, more adequate competencies and competitive capacities, and an effective organization. Therefore, developing a capable organization is always a priority of strategy implementation.

There are three types of organizational development that are of utmost importance.:

  1. Select capable people for key positions.
  2. Ensure that the organization possesses the core skills, competencies, administrative talents, technical knowledge, competitive capabilities, and resource strengths it needs.
  3. Organize business processes, value chain activities and decision making in a way that leads to successful execution of the strategy.
6 0
2 years ago
Other questions:
  • A new retail associate in another department asks you about the features of the merchandise in his department. you just explaine
    6·1 answer
  • More than ________ percent of those holding patents win their infringement suits.
    6·1 answer
  • A farmer has been given the opportunity to become a part owner in a local fertilizer business. If the farmer becomes an owner of
    13·1 answer
  • Service quality greatly depends on the quality of the buyer-seller interaction during the service encounter. this is known as​ _
    8·1 answer
  • If the monthly sales volume required to break even is $190,000 and monthly fixed costs are $55,900, the contribution margin rati
    7·1 answer
  • "Roller-Tell Inc., a major supplier of components to the automobile industry, has recently confronted a crisis as one of its man
    7·1 answer
  • The theory of _____, developed by Michael Porter, focuses on the importance of country factors, in addition to factor endowments
    15·1 answer
  • HELP PLEASE!
    6·1 answer
  • Linda, who is now age 65, once purchased several townhomes near a local university at age 45. what kind of income is linda makin
    14·1 answer
  • Which level of quality of information would eventually exist in the market for lemons assuming there was no way to gain assuranc
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!