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viktelen [127]
3 years ago
7

Hilary had an outside basis in LTL General Partnership of $10,000 at the beginning of the year. LTL reported the following items

on Hilary's K-1 for the year: ordinary business income of $5,000, a $10,000 reduction in Hilary's share of partnership debt, a cash distribution of $20,000, and tax-exempt income of $3,000. What is Hilary's adjusted basis at the end of the year
Business
1 answer:
topjm [15]3 years ago
3 0

Answer:

Hilary's adjusted basis at the end of the year $0

Explanation:

Hillary's base in general business income and tax-free income grows and then deducts . He understood the cash flow from his original cash disbursement and partnership debt reduction.  Hillary must report a capital gain of $ 12,000 on a zero interest basis in her partnership interest, since his actual and perceived cash distribution exceeds his base after raising it through a positive adjustment for the year.

$10,000 + $5,000 - $3,000 - $10,000 - $2,000  = 0

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Which of the following taxpayers may not be able to claim full benefits for some common itemized deductions?
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nswer:a

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3 years ago
Why is interest typically paid on a loan? A. to compensate the borrower for borrowing from a specific lender B. to ensure that p
Svet_ta [14]

Answer:

The correct answer is option D.

Explanation:

An interest rate is an amount charged by a lender on the use of assets. It is expressed as a percentage of the principal. The interest rate is the return on lending for a lender and the cost of borrowing for the borrower.  

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4 0
3 years ago
a secured party who has control will prevail over a secured party who has only filed for these types of collateral:
marshall27 [118]

Deposit accounts, Investment Property, and Letter-of-credit Rights. Thus option (A) is correct

<h3>What is the investment?</h3>

Investment is the ceremonial of money to purchase an asset to attain an increase in value over a time period of time. Investment requires a sacrifice of some present quality, such as time, medium of exchange, or effort. In finance, the purpose of investing is to generate a return from the invested asset.

Whether or not there is a current obligation to be secured, a person who has the benefit of the security interest generated by or provided for under a security arrangement is known as a secured party under UCC law. when the secured party is in possession, a duty of care.] A secured party must take reasonable care to keep the collateral it has in its possession safe unless subsection (d) provides otherwise.

Therefore, Thus option(A) is correct

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brainly.com/question/15353704

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5 0
1 year ago
What type of rule defines how much time can pass between an illegal act and when an individual is prosecuted for that act?
Anton [14]

Answer: Statue of limitations is the correct answer

3 0
2 years ago
In the manufacture of 8,000 units of a product, direct materials cost incurred was $154,600, direct labor cost incurred was $84,
Ilia_Sergeevich [38]

Conversion costs are the combination of direct labor costs plus factory overhead costs. Hence, conversion costs exclude the cost of direct materials.

So, here the conversion cost = Direct labor cost + Factory overhead cost

= $ 84,000 + $ 45,500

= $ 129,500

3 0
3 years ago
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