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
FinnZ [79.3K]
2 years ago
6

How to report sale of inherited property on tax return?

Business
1 answer:
IrinaVladis [17]2 years ago
3 0

Your share of the sales proceeds from the sale of a home you had inherited should be reported on Schedule D in the Investment Income section of TaxAct. You would enter "Inherited" as the date the property was acquired, then enter the cost basis, date of sale, and the sales proceeds.

You might be interested in
One of the roles that a small business manager may emphasize over a counterpart in a large organization is:
KIM [24]
The answer to this question is "SPOKESPERSON". It is one of the roles that a small business manager may emphasize in comparison or as a counterpart in a large organization. This role will serve as the voice of the small business organization. She/He will speak and voice what the entire group what to mention and he will deliver the idea of the entire business as one.
4 0
3 years ago
Suppose the civilian non-institutionalized working age population is 35.9 million in Laborland.
DanielleElmas [232]

Answer: a. 24.05 million

b. 66.99%

c. 4.62 million

d. 19.21%

Explanation:

a. Total Labor force is the sum total of people who are employed and those who are actively looking for work. The Bureau of Labor Statistics defines actively looking for work as looking for work int he past 4 weeks.

= Part-time workers + full time workers + those who looked for work in the past 2 weeks + those who looked for work in the past 2 - 4 weeks

= 4.9 million + 14.53 million + 2.90 million + 1.72 million

= 24.05 million

b. labor force participation rate is the percentage of a country's non-institutionalized working age population that are actively looking for work. Its formula = \frac{total labor force}{non-institutionalized working age population} X 100

Laborland's labor force participation rate (%) = \frac{24.05 million }{35.9 million }X 100

= 66.99%

c. Unemployed  People by the standards of the Bureau of Labor Statistics are the people who have looked for work in the past 4 weeks and are still employed. That is  those who looked for work in the past 2 weeks + those who looked for work in the past 2 - 4 weeks.

= 2.90 million + 1.72 million

= 4.62 million

d. Unemployment rate is the percentage of the labor force that are actively looking for work and are still out of work.

Unemployment rate = \frac{unemployed}{labor force} x 100

= \frac{4.62 million}{ 24.05 million} x 100

=19.21%

8 0
3 years ago
If a firm can raise market price by reducing its output, then:
Dahasolnce [82]

If a firm can raise the market price by reducing its output, then It faces a downward-sloping demand curve.

If a superbly aggressive company increases its rate above the prevailing market fee, it'll lose its entire marketplace proportion, and income will lessen to 0.

Monopolists aren't allocatively efficient, due to the fact they do not produce at the amount wherein P = MC. As a result, monopolists produce less, at a higher average cost, and rate a higher price than could a combination of firms in a superbly competitive enterprise.

The monopolist will choose the income-maximizing degree of output in which MR = MC, and then fee the fee for that quantity of output as decided by using the marketplace call for curve. If that rate is above average fee, the monopolist earns high-quality earnings.

Learn more about the demand curve here: brainly.com/question/9387886

#SPJ4

6 0
1 year ago
Radu is a global manufacturer of automotive parts. The annual reporting period ends Dec. 31. Below find balances for all of its
Trava [24]

Answer:

a) dollar amount of the gross profit = 17000

b) dollar amount of the income from operations = 11700

c) dollar amount of the income before income tax = 11900

d) dollar amount of the net income = 8400

Explanation:

(a) Gross profit:

= Sales - Cost of goods sold

= 50,000 - 33,000

= $17,000

(b) Income from operation:

= Gross profit - Bad debt expenses - other operating expenses - Selling and administrative expenses

= $17,000 - $100 - $500 - $4,700

= $11,700

(c) Income before income tax:

= Income from operation + Interest Income and Other Non-operating Revenues

= $11,700 + $200

= $11,900

(d) Net income:

= Income before income tax - Income tax

= $11,900 - $3,500

= $8,400

4 0
3 years ago
Why do brands with a large market share spend proportionally less on advertising compared to brands with a small market share? D
Tju [1.3M]

Answer:

because their already known

Explanation:

7 0
3 years ago
Other questions:
  • Silver​ Crafts, Inc. purchases and sells bracelets. The following information summarizes the​ company's operating activities for
    13·1 answer
  • Bank overdrafts, if material, should bea. reported as a current liability.b. reported as a deduction from the current asset sect
    5·1 answer
  • If Jack bought 12 DVDs last year when his income was $40,000 and he buys 14 DVDs this year when his income is $43,000, then his
    13·1 answer
  • Which leadership style did the CEO of the healthcare system demonstrate in the EHR selection process?
    15·1 answer
  • Adrian and Fran operate their computer tech support company "Best Techs," as an S corporation, file the appropriate incorporatio
    5·1 answer
  • Jessica can produce 2 boats in a day or 100 umbrellas in a day. Paul can produce 3 boats in a day or 120 umbrellas in a day. Thi
    6·1 answer
  • Schweitzer realized that in many cases individuals could only accomplish direct human service in collaboration with official org
    6·1 answer
  • Why is it important for a company to have structure?:​
    13·2 answers
  • When gathering information, which of the following tasks might you need to
    8·1 answer
  • Three individuals in a partnership agree to divide the profit equally. X invests $4500, Y invests $3500, and Z invests $2000. Th
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!