Answer: $50,000
Explanation:
To calculate David's basis in S corporation we subtract the value of the land at it's current value from his basis in S corporation stock of $270,000 on the distribution date.
We will then add his portion of the capital gain on the land because all shareholders shared it equally and as such it should increase his basis as it did theirs.
Calculating then we have,
= 270,000 - 240,000 + 20,000
= $50,000
David's basis in the S corporation becomes $50,000.
Answer:
B, B
Explanation:
If Cuba decides to open up trade with the world grapefruit market, the price of domestic Cuban grapefruit for consumers will Increase because the opening of trading with the world will decrease amount of grapefruit available for the people in Cuba thereby creating shortage which will lead to increase in price. Cuban exports of grapefruits will Increase by virtue of opening to the rest of the world.
Tell them to wait patiently, and give them a
drink
Very true! sorry i don’t know what ur asking but i agree with all!!
Answer: purchase foreign currency in order to purchase a U.S. treasury bond.
Explanation:
Currency convertibility has to do with the degree in which the domestic currency of a particular country can be converted into the currency of another country.
Therefore, a citizen in a developing country with a currency policy of convertibility on the current account could engage in the purchase foreign currency in order to purchase a U.S. treasury bond.
