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
Alex787 [66]
3 years ago
10

Bob sold securities in Year 1. The sales resulted in a capital loss of $7,000. He had no other capital transactions. He and his

wife Gloria decide to file separate returns for Year 1. His taxable income was $26,000.
What amount of capital loss can he deduct on his Year 1 return and what amount can he carry over to Year 2?

A. $7,000 in Year 1 and $0 carry over to Year 2.
B. $3,000 in Year 1 and $4,000 carry over to Year 2.
C. $4,000 in Year 1 and $3,000 carry over to Year 2.
D. $1,500 in Year 1 and $5,500 carry over to Year 2
Business
1 answer:
ser-zykov [4K]3 years ago
5 0

Answer:

D. $1,500 in Year 1 and $5,500 carry over to Year 2

Explanation:

Base on the scenario been described in the question, Bob and his wife after selling securities in 1 year loss $7,000, but we saw that he was not having another capital, the return him and his wife will fill for one year and carrying over to the next with a $26,000 taxable income is $1,500 in a year and and the remaining $5,500 will be carried to the next two years .

You might be interested in
Majority rule, first-come/first-served, and sharing equally are examples of _____ .
Trava [24]
The examples mentioned above are examples of non-market distribution method, Non-market distribution method is a process wherein the distribution products, services, and goods does not have profit motivation. In most cases, products, goods, and services are offered for a low price.
5 0
3 years ago
Read 2 more answers
The following are methods of exchange EXCEPT
Dima020 [189]

Answer:

a bitcoin economy is the answer

6 0
2 years ago
Suppose that out of the original 100 increase in government spending, 33 will be recycled back into purchases of domestically pr
serious [3.7K]

Answer:

Multiplier effect in the 4th round = 3.58

Explanation:

A change in aggregate demand can create a much greater impact in the equilibrium national income. This is known as the multiplier effect. This occurs when injections of new demand for goods and services into the circular flow of income creates further rounds of spending. For example, if the government spending was on building new affordable houses then the need for housing materials will create demand for wood, cement and other housing supplies. Thus, these businesses will see a rise in sales. Whilst they benefit through profits, their employees would benefit from wages and salaries. As their income rises, they will spend it in the economy, and so will the businesses from their profits. This additional rounds of spending is the multiplier effect.

If a 100 increase creates 33 for the second round, it is 33% (33/100 x 100) i.e. 100 x 33% = 33

This is proven since 33 x 33% = 10.89 in the third round.

Hence, the multiplier effect in the forth round = 10.89 x 33% = 3.58

7 0
3 years ago
If you wish to accumulate $125,000 in 7 years, how much must you deposit today in an account that pays a quoted annual interest
elixir [45]

Answer:

You need to deposit $58,481.53 today.

Explanation:

a) Data and Calculations:

Future value expected = $125,000

Period of investment = 7 years

Interest rate = 11% compounded quarterly

The amount of deposit needed today to earn $125,000 in 7 years at annual interest rate of 11% is calculated as follows:

N (# of periods)  28

I/Y (Interest per year)  11

PMT (Periodic Payment)  0

FV (Future Value)  125000

Results

PV = $58,481.53

Total Interest $66,518.47

7 0
3 years ago
In early year 8, Alice sold Tom, her son, 20 shares of common stock for $20,000. Alice had paid $25,000 for the stock in year 2.
Tema [17]

Answer:

He must report 15,000 gain in his year 8 tax...........

4 0
3 years ago
Other questions:
  • Which one of the following should earn the most risk premium based on CAPM?
    10·1 answer
  • Which is a valid counterargument to the call for higher tariffs to save u.s. jobs? imports may eliminate some u.s. jobs, but the
    8·1 answer
  • When a supplies internal service fund records a billing to the general fund, the journal entry in the internal service fund will
    7·1 answer
  • The method involves placing money in separate packets to meet particular expenses.
    5·1 answer
  • Which title is an example of top management?
    7·2 answers
  • All of the following are key characteristics of a monopolistically competitive industry except A. a differentiated product. B. a
    15·1 answer
  • The Sarbanes-Oxley Act was designed to protect A. retired workers from losing their pensions B. corporations from misguided whis
    10·1 answer
  • N Corp has a variable cost per unit of $1.20, and the lease payment on the production facility runs $4,200 per month. N Corp sel
    13·1 answer
  • Suppose that a demand curve exhibits two points. Initially, at price P 0 , the quantity demanded is Q 0 . When price changes to
    13·1 answer
  • When comparing short-run average total cost with long-run average total cost at a given level of output, a. short-run average to
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!