Answer:
The answers are:
- Jerry must recognize $0 of gain on the transfer of the rental house
- Sally's tax basis is $80,000
Explanation:
Capital gains taxes are usually excluded when you sell a house or transfer the house in a divorce settlement. The exclusion is up to $250,000 of capital gains.
Since Sally didn't buy the house, but received it as part of their divorce settlement from Jerry, the same cost basis will apply to Sally.
Answer:
No.
Explanation:
You said if you <em>charge</em>, so it will only charge your phone. You aren't able to upload photos directly to an Xbox.
Although, if you are pc, you can upload a custom gamerpic easily.
(An example would be a gamerpic, you need the app in order to have a custom gamerpic because it accesses your files).
Answer:
spendflation/deflation/stagflation
Explanation:
The situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high.
Answer:
the amount of interest expense as on June 30 is $50,000
Explanation:
The computation of the amount of interest expense as on June 30 is shown below
= Bond amount × rate of interest × number of months ÷ total number of months
= $2,000,000 × 5 months × 6 months ÷ 12 months
= $50,000
hence, the amount of interest expense as on June 30 is $50,000
We simply applied the above formula so that the correct value could come
And, the same is to be considered