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Zarrin [17]
2 years ago
9

race acquired an activity four years ago. The loss from the activity is $50,000 in the current year (at-risk basis of $40,000 as

of the beginning of the year). Without considering the loss from the activity, she has gross income of $140,000. If the activity is a convenience store and Grace is a material participant, what is the effect of the activity on her taxable income? Grace may deduct $ of the $50,000 loss due to the rules. $ is suspended. The available loss subject to the passive activity loss rules because . As a result, Grace's income for tax purposes is $ .
Business
2 answers:
Yakvenalex [24]2 years ago
4 0

Answer: 12

Explanation:

42

marishachu [46]2 years ago
4 0

Answer:

Grace taxable income during the year = $100,000

Given:

Current year loss = $50,000

The beginning of the year = $40000(At risk basis)

Gross income during the year = $140,000

Grace taxable income during the year = ?

Computation of Grace taxable income during the year :

Grace taxable income during the year = Gross income during the year - Deductible beginning loss during the year

Grace taxable income during the year = $140,000 - $40,000

Grace taxable income during the year = $100,000

Therefore, her taxable income reduced from $140,000 to $100,000

Explanation:

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Natasha2012 [34]

Answer:

C, D , E , F.

Explanation:

These all are connected with money.

Sorry if I don't get this right I never had this question before.

3 0
3 years ago
Suppose a wet and sunny year increases the nation's sweetcorn crop by 20%. How will this affect the market for frozen peas,a sub
Soloha48 [4]

Answer:

d) decease in demand

Explanation:

When the produce of sweet corn crop rises by 20%, this would lead to an increase in supply. With increase in supply, the price of sweet corn shall fall, which would lead to an increase in demand as now consumers will consume more of sweet corn.

Since the relationship between price of a good and demand for it's substitute is positive, the demand for the substitute shall fall.

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In cell e5, enter a financial function to calculate the monthly payment. in cell e6, insert a financial function to calculate th
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4 0
3 years ago
Which recommendation would be most suitable for a 40-year old client whose main objective is retirement income and preservation
melisa1 [442]

Answer:

Fixed deferred annuity

Explanation:

Fixed deferred annuity is a form of saving investment where interest is paid on the invested amount at a rate set by the investment company and defined in the contract , and the interest can be deferred into the future till a withdrawal is made from the annuity contract.

Taxes are not paid but deferred until withdrawal which allows the opportunity to  control when to pay taxes , a good investment sense for long term investment.

This makes it a good investment for a risk adverse investor who will not require investment income until later years but its main goal is retirement income and preservation of capital.

5 0
3 years ago
Of the following activities which is MOST likely to be an interaction between the financial manager and the information systems
ryzh [129]

Answer:

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Explanation:

First of all, an<em> information systems manager</em> has the job of creating, developing and monitoring information systems that could possibly help the organization in its entire structure to improve its performance and therefore that manager focuses in the importance of information as an asset and how could it supports the decision making process for the other executives.

Second of all, a <em>financial manager</em> has the responsability to care about the health of the institution regarding subjects involving money and all of the companies assets. That manager must focuses in the organization of the resources that could help the organization to achieve its goal and how to use them in a proper way.

Finally, in the situation where both of those managers interact together, the main purpose will be to develop an information system, created by the information system manager, that could help the organization to gather information regarding the payment to suppliers, the track of inventory and the bill of customers due to the fact that a system with all that information will help the financial manager to take decisions more properly in order to achieve success.

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