From the information given, the amount of the projected 2022 loss, if any that Ron May deduct on his income tax return for 2022 is "$14,000" (Option D) See explanation below.
<h3>What is the explanation for the above answer?</h3>
In general, Section 704(d) of the Code states that a partner's distributive share of a partnership loss (including capital loss) is limited to the adjusted basis of such partner's interest in the partnership (outside basis) at the end of the partnership year in which such loss occurred.
If a partner's share of partnership losses exceeds its outside basis in a given taxable year, the losses are permitted to the extent of basis, and any excess amount is carried over to the following taxable year in which the partner has outside basis available.
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Full Question:
Ron's investment in his XYZ partnership interest on December 31, 2021, was $12,000. As the result of a serious downturn in business, the partnership calculates Ron's share of the partnership's losses in 2022 will be $14,500. How much of this projected 2020 loss, if any, may Ron deduct on his income tax return for 2022?
A) $12,000
B) $2,500
C) $0
D) $14,000
Answer:
A. The investment decreases by $771,000
Explanation:
As per the question the following details are given below :-
Net loss = $2,500,000
Total Dividend = $70,000
Owning Percentage = 30%
The computation of during the year is given below:-
Net loss + Total Dividend x Owning Percentage
= ($2,500,000 + $70,000) x 30%
= $2,570,000 x 30%
= $771,000
So, the Magnus investment in Mirika inc. reduces by $771,000
Answer:
The correct answer is 1. A cognitive ability test
.
Explanation:
Taking into account the dispositions required to carry out the work effectively, it is noted that in Edudrakel the use of skills is required rather than being specific to the field studied. For this reason, it is necessary to implement tests of cognitive ability because they allow to know more clearly which are the topics that are best handled by the candidates, and with that information to be able to use them in the area in which they perform best.
We have to calculate the benefit of every machine and to multiply it by its probability:
Machine A: $45,000 with a probability of 90%.
$45,000 * 0.9 = $40,500.
Machine B: $80,000 with a probability of 50%.
$80,000 * 0.5 = $40,000.
Machine C: $60,000 with a probability of 75%.
$60,000 * 0.75 = $45,000.
C > A > B.
Answer: We would select machine C.
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