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
bekas [8.4K]
3 years ago
5

Tom, an art history professor owned and lived in a home in Dubuque, Iowa, for the past four years. He spends a year in Italy aft

er which he decides to sell his home in Dubuque and live in Rome. If Tom is single, he can claim _______.
Business
1 answer:
photoshop1234 [79]3 years ago
4 0

Answer:

If Tom is single, he can claim THE $250,000 CAPITAL GAINS EXEMPTION.

Explanation:

Capital gain taxes are taxes on any profit you make from the sale of something, such as a house. These taxes apply unless you upgraded to a home with a more expensive purchase price.

With the passage of the taxpayer relief act, individuals can exclude up to $250,000 of capital gains from taxation and married couples can exclude up to $500,000.

To qualify for the home sale capital gains tax exemption, one must pass the use test (looking at whether one used/lived in one's home). One must have owned and lived in the residence for at least two out of the last five years before the sale.

Therefore, since Tom is single and has lived in his home for the past four years and wants to sell, he qualifies for the exemption and can claim THE $250,000 CAPITAL GAINS EXEMPTION.

You might be interested in
What does sfb allowed mean in real estate?
topjm [15]
<span>An SFB is a small finance bank. A small finance bank differs from a commercial bank in the objectives and services they offer. Small finance banks can only accept deposits and lend to people who typically won't be served by bigger commercial banks. This can include people like small time farmers, unorganized workers, and really small businesses, etc. SFB allowed means that whatever real estate company or person you're working with accepts the use of this bank.</span>
8 0
4 years ago
William wants to obtain information from the Securities and Exchange Commission regarding the number of active cases related to
Tomtit [17]

Answer:

The correct answer is a Freedom of Information Act request.

Explanation:

The Freedom of Information Act (FOIA) is a statute that establishes the process by which every individual can request access to records or information from federal agencies. Federal agencies, such as the Commission for Equal Employment Opportunities, are required to disclose their records once they have received a written request for review, except if the requested documents are protected by one of the nine exceptions. and three exclusions contained in the FOIA Law. The FOIA Act does not apply to records held by Congress, courts or state and local governments. Any request to review records held by state and local governments should be directed directly to the appropriate state or local government agencies.

5 0
3 years ago
Which of the following is NOT a primary activity of the Value Chain model? a. Inbound Logistics b. Operations c. Outbound Logist
vaieri [72.5K]

Answer:

The correct option is d. purchasing

Explanation:

Value chain Model : The value chain model is that model which is used to add the values to the organization.

It comprises of two activities:

1. Primary activities : The primary activities are those activities which includes day to day activities or that activities through which the product can delivered to the final consumer.

It includes inbound logistics, outbound logistics, operations, marketing & sales, and services.

2. Support activities : The activities which support primary activities is called support activities. It includes firm infrastructure, human resource management, technology management, and procurement.

By giving above explanation, the purchasing is not a primary activity of the value chain model

Hence, the correct option is d. purchasing

4 0
3 years ago
Sales $ 576,000 $ 491,500 Variable costs 189,000 260,500 Traceable fixed costs 173,500 196,400 Allocated common corporate costs
Maru [420]

Answer:

$(18,900)

Explanation:

Calculation to determine what the elimination of the West Division would result in an overall company net operating income (loss)

Using this formula

Net operating income (loss) = Net operating income of East division -Allocated common cost to West division

Let plug in the formula

Net operating income (loss)= $ 89,600 - $108,500

Net operating income (loss)= $(18,900)

Therefore the elimination of the West Division would result in an overall company net operating income (loss) of $(18,900)

5 0
3 years ago
"Which of the following are covered under the Securities Exchange Act of 1934? I Registration of new issues II Stabilization of
OleMash [197]

Answer: II. stabilization of new issues

III. registration of exchanges

IV. registration of broker-dealers

Explanation:

The Securities Exchange Act of 1934 was put in place in order to be in charge of security trading.

From the options, those that are covered under the Securities Exchange Act of 1934 include the stabilization of new issues, the registration of exchanges and the registration of broker/dealers.

It should be noted that the Securities Exchange Act of 1934 does not cover the registration of new issues.

6 0
3 years ago
Other questions:
  • Performance Obligation Fulfilled Over Time Philbrick Company signed a three-year contract to develop custom sales training mater
    11·1 answer
  • A variant of fiscal-year budgeting whereby a twelve-month projection into the future is maintained at all times is termed
    9·1 answer
  • Lois avoids crowded streets and stores, and rarely ventures to the theater or to church. she is particularly fearful of travelin
    5·1 answer
  • The demands of ethics and etiquette tend to require the use of​________ to communicate with appropriate sensitivity and care.
    10·1 answer
  • Top hedge fund manager Diana Sauros believes that a stock with the same market risk as the S&amp;P 500 will sell at year-end at
    6·1 answer
  • Beale Manufacturing Company has a beta of 1.8, and Foley Industries has a beta of 0.80. The required return on an index fund tha
    6·1 answer
  • At the beginning of 2018, England Dresses has an inventory of $75,000. However, management wants to reduce the amount of invento
    15·2 answers
  • Peter Watson is thinking about launching a small business consulting company. To get advice on how to​ proceed, he stopped by hi
    5·1 answer
  • Research has found that instigating and upholding task-oriented conflicts in the decision-making process can be a strategy to co
    12·1 answer
  • Which of the following is not one of the typical sources of competitive pressures, according to Michael Porters five factor mode
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!