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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.

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Which of the following statements is true?
Nana76 [90]

Answer:

the answer should be

a. Overhead can be applied slowly as a job is worked on.

3 0
3 years ago
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Through a process called _______, marketers collect and evaluate information about the marketing environment.
OverLord2011 [107]

Answer:

<em>Through a process called </em><em><u>environmental</u></em><em><u> </u></em><em><u>scanning</u></em><em> marketers collect and evaluate information about the marketing environment.</em>

<em>What</em><em> is</em><em> </em><em>environmental</em><em> </em><em>scanning</em><em>?</em>

<em>Environmental</em><em> </em><em>scanning</em><em> </em><em>is </em><em>the </em><em>process</em><em> </em><em>of </em><em>continually</em><em> </em><em>acqu</em><em>i</em><em>ring </em><em>information</em><em> </em><em>on </em><em>events </em><em>occurring</em><em> </em><em>outs</em>ide<em> </em><em>the </em><em>organization</em><em> </em><em>to </em><em>identify</em><em> </em><em>and </em><em>interpret </em><em>potential</em><em> </em><em>trends.</em><em> </em>

3 0
2 years ago
William Brown, the CFO of Oriole Automotive, Inc., is putting together this year's financial statements. He has gathered the fol
kicyunya [14]

Answer:

$169,521

Explanation:

The computation of long-term debt is shown below:-

Total asset = Cash + Inventory + Goodwill + Net plant and equipment + Receivables + Current assets

= $23,015 + $213,100 + $78,656 + $710,100 + $141,258 + $11,223

= $1,177,352

Long-term debt = Total asset - Account payable - Common stock - Retained earnings - Short term notes

= $1,177,352 - $163,257 - $311,300 - $512,159 - $21,115

= $169,521

Hence, we have applied the above formula for determining the long term debt.

6 0
3 years ago
Jack Corporation uses horizontal analysis to compare its income statement from year to year. Jack Corporation reported the follo
fredd [130]

Answer:

Current year cost of goods sold is $181,800.

Explanation:

The current year cost of goods sold is calculated as follows:

Current year cost of goods sold = Last year cost of goods sold + Current year change

= $180,000 + ($180,000 * 1%)

= $180,000 + $1,800

= $181,800

Therefore, current year cost of goods sold is $181,800.

6 0
3 years ago
Which microbes is used to extract ethanol from fruit juice and sugar molasses · ​
Sveta_85 [38]

Answer:

Yeast

Explanation:

A microbe (microorganism) is a microscopic organism which either exist in its single-celled form or as colony of cells. Example of microbes are bacteria, archaea, algae, protozoa.

Yeast is a microbe used in the extraction of ethanol from fruit juices and sugar molasses. Saccharomyces cerevisiae is a specie of yeast which reacts with fruit juices and sugar molasses in the absence of Oxygen to produce ethanol and carbon dioxide.

4 0
3 years ago
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