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stellarik [79]
3 years ago
14

Ivan and Olga own a duplex. They collect the rents and make repairs to the property when necessary. That is, they are active par

ticipants in the rental property. During the current year, the duplex has gross rents of $16,000 and total allowable deductions of $31,000.What is the effect of the duplex rental on their taxable income if their AGI is
a) $87000? b)$122000? c) $155000? d)$139000?
Business
1 answer:
Rom4ik [11]3 years ago
4 0

Answer:

A. $155,000

Explanation:

The $25,000 rental real estate deduction is reduced when an individual's adjusted gross income exceeds $100,000. The amount of the reduction is $.50 for every $1 of adjusted gross income in excess of $100,000. Thus, the special rental real estate deduction is not available to taxpayer's whose adjusted gross income exceeds $150,000. Because Ivan and Olga have $155,000 of adjusted gross income, they are not allowed to deduct any of the $15,000 rental loss. The $15,000 loss is suspended as a passive loss and can be deducted in the following year against either passive income or under next year's $25,000 limit.

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Parker & stone, inc., is looking at setting up a new manufacturing plant in south park to produce garden tools. the company
Setler [38]

The initial investment is the total amount spent or the amount of cash outflow.

The initial investment here is -

Proper cash flow amount = Cost of land (present cost of land) + Cost of Plant + Cost of Grading

Proper cash flow amount = $ 4,300,000 + $ 11,500,000 + $ 670,000

Proper cash flow amount = $ 16,470,000

4 0
3 years ago
Dakota, Inc. is a merchandiser of medallions. The company sold​ 15,100 units during the year. The company has provided the fol
love history [14]

Answer:

$19.21

Explanation:

The computation of the unit cost per item is as follows:

Beginning merchandise inventory $52,000

Add: Purchases + freight in   $293,000  ($280,000 + $13,000)

Less: Ending merchandise inventory -$54,900

Cost of goods sold     $290,100

Now the cost of goods sold per unit is

= $277,100 ÷ 15,100 units

=  $19.21

7 0
3 years ago
Which of the following statements is normative rather than positive?
torisob [31]

Answer:

D) Income inequality should be minimized in a developed society.

Explanation:

Normative statements express value-based judgement on how a situation should be . In the instance aboce, it is the author's opinion that in developed society income inequality should be minimised.

Positive statements are more descriptive using facts to make statements. In the above Carla will get more excercise at the fair than at the movies is a fact-based statement.

7 0
3 years ago
How many bones of human body
jeka94
There are 206 bones in the average adult human body

hope this helps
6 0
2 years ago
2. How will the presence of Amazon affect the Illini Union Bookstore (both positively and negatively) in the future
mel-nik [20]

The Illini Union Bookstore on the University of Illinois campus has partnered with Amazon to create the first pickup location for Amazon products in Illinois.

What benefits does the collaboration offer?

For orders ordered before noon and for orders placed before 10 p.m., Amazon Prime members will enjoy Free Same-Day Pickup and Free One-Day Pickup, respectively. For a six-month free trial period followed by a 50 percent discount on the standard price of Prime, students can join up for an Amazon Prime Student membership. The worry that a shipment might be harmed or stolen after it has been delivered is also removed.

How will the presence of Amazon affect the Illini Union Bookstore?

The University of Illinois campus' Illini Union Bookstore and Amazon have teamed up to provide the state of Illinois' first Amazon merchandise pickup site. Customers can have their purchases delivered to the store rather than having them transported to their homes thanks to the staffed location.

Learn more about the partnership between amazon and Illini union bookstore: brainly.com/question/17182214

#SPJ4

8 0
1 year ago
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