Answer:
The land basis will be $8,000 and partnership basis will be $42,000.
Explanation:
The outside basis at the end of the year is $56,000.
The cash basis is $6,000.
The fair value of land is $14,000.
The land basis to RF is $8000.
The partnership basis will be
=Outside basis-cash basis-land basis
=$(56,000-6,000-8,000)
=$42,000.
So, the land basis will be $8,000 and partnership basis will be $42,000.
Answer:
a. The clothing must not be suitable for everyday use and must be required as a condition of the job.
Explanation:
For the cost of special work clothes or uniforms to be deductible by the IRS, there must be a number of requirements, it is necessary that work clothes are required as a working condition and that the clothes are used only in the work environment, and not for the employee's personal use.
It is also necessary that the uniforms guarantee the conditions in accordance with the function performed, adding protection instruments when necessary for the health and safety of the employee, in addition, the costs with work clothes can be deductible when they present company logos by example, attesting that such clothing is not for personal use outside the workplace.
Answer:
A.
Explanation:
Organizational expense amortized over fifteen years for purposes of determining taxable income results in an upper adjustment in the initial years to book income on the Schedule Minus−1 when the expense is being amortized over ten years for book income purposes.
Answer:
Total yield or rate of return is 0.36 or 36%
Explanation:
To calculate rate of return which is also the total yield on the stock, we will use the following formula,
Total Yield = (D + C) / P0
Where,
- D represents dividends paid by the stock during the year
- C is the capital appreciation(pr depreciation) or rise(or fall) in the price of the stock as compared to the purchase price
- P0 is the purchase price or price in Year 0
Total dividends for the year = 1.5 * 4 = $6
C = 130 - 100 = $30
Total Yield = (6 + 30) / 100
Total yield = 0.36 or 36%
Answer: Corporations limit risk and liability for shareholders.
Explanation:
Apex
