1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Fantom [35]
3 years ago
8

On January 1, 2019, Patrick Polk purchased real estate as an investment. On April 1, 2019, Patrick exchanged it for other real e

state in a nontaxable exchange. On February 1, 2020, Patrick sold the real estate for cash and realized a gain. This gain will be treated as a. long-term capital gain. b. short-term capital gain. c. part nontaxable and part short-term capital gain. d. part nontaxable and part long-term capital gain.
Business
1 answer:
Leokris [45]3 years ago
5 0

Answer:

a. long-term capital gain.

Explanation:

A 1031 exchange allows investors to delay paying taxes when they swap like-kind properties. The basis of this property will start on January 1, 2019, the date the first property was acquired. If the investor sold the property on February 1, 2020, more than a year passed, so this should be taxed as a long term capital gain.

You might be interested in
JoeFit, Inc. is using the basic FOQ model to manage its inventory for K2 microprocessors. The setup cost per order is $200 and t
AnnyKZ [126]

Answer:

51.2 million

Explanation:

The computation of the annual demand is shown below:

As we know that the total annual setup cost and the carrying cost would be equivalent to EOQ

Since the total annual setup cost & carrying cost is $32,000

So, for each it would be $16,000

Now

Total number of orders is

= $16000 ÷ $200

= 80 orders

And, Total inventory carrying cost = 0.05 × (EOQ ÷ 2)

$16000 = 0.05 × EOQ ÷ 2

$32000 ÷ 0.05 = EOQ

EOQ = 640000 units

Now

Total demand = 640000 × 80

= 51200000

= 51.2 million

8 0
3 years ago
Carl lives in a small new england town where he and other residents attend monthly town meetings. at these meeting they publicly
Elanso [62]
<span>A direct democracy, also known as a pure democracy. This is where each individual has a vote, and directly decides on the things that are up for decision. This differs from a representative democracy, where people elect representatives which vote for them.</span>
7 0
3 years ago
What is the difference between inflation and deflation?
Lorico [155]
I don't know maybe c
6 0
4 years ago
Read 2 more answers
Five ways of which the tourism contributes towards south africa economy
Eddi Din [679]
This is the five ways that tourism contributes towards the south African economy. First is the important source of revenue and employment is referred to the Domestic tourism. It supports one in every 12 jobs in the country. And also in the labor-intensive sector, with the supply chain that connects the other sectors which tourism sector is the most important, it is part of the six jobs drivers path framework of the government. It boost the business industry of South Africa, it helps to feature its culture and its heritage sites. 
6 0
3 years ago
"which mode of transportation would cost the least per ton mile?"
IRINA_888 [86]

The answer is letter d. water. Water would cost least per ton mile, since transportation through water depends on the materials or watercraft you will be using. If an individual is using an ordinary boat, a boat that is being rowed, it would cost less, than a boat being rowed by an electrical engine. 

8 0
3 years ago
Other questions:
  • a restaurant offers 8 appetizers and 10 main courses. in how many ways can a person order a two-course meal?
    11·1 answer
  • Wolfpack Construction has the following account balances at the end of the year.
    15·1 answer
  • If a common stock investment is sold at a gain, the gain Select one: a. is reported in the Other Revenues and Gains section of t
    5·1 answer
  • Bank Reconciliation
    7·1 answer
  • Moments of truth may be direct contacts with customer representatives or service personnel, or when customers read letters, invo
    13·1 answer
  • ________ is an example of a period cost rather than a product cost for a manufacturing company. A : Depreciation on factory equi
    14·1 answer
  • Klingon Widgets, Inc., purchased new cloaking machinery three years ago for $4.4 million. The machinery can be sold to the Romul
    5·1 answer
  • A company sells 500 sleds per month for $80. Variable costs are $41 per unit and fixed expenses are $3,500 per month. The compan
    12·1 answer
  • When you finish your budget, you should have:
    14·2 answers
  • True or false? A full service inbound offering is a comprehensive set of inbound services designed to help a client meet their g
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!