The IRS says that you can destroy them after three years. However, if you owe taxes, it is better to keep them up to 10 years.
$13035 will be needed.
<u>Explanation:</u>
In order to calculate Joaquin’s out of pocket cost for college you need to first calculate what the total cost for college is. In this example, he will need to pay all of the listed fees except room and board if he chooses to live at home. The total fees after not including the expense of room and expense of board is calculated to be as $14,935. The amount of grant that is received is $1900 that needs to be subtracted from the annual cost.
Thus, $14935 minus $1900 = $13035
Answer: $35,000
Explanation:
A casualty loss is simply a loss that an individual or business incurs when a property is damaged, or destroyed due to an unexpected or sudden event like fire, volcanic eruption, flood etc.
Here, Steve's casualty loss will be gotten when we compare both his adjusted basis and the fair market value and then we choose the lesser one. Since $35000 is lesser than $50000, therefore the answer will be $35000.
They wouldn’t be in employed because they have pay