Patrick and Kathy bought a home for $250,000 three years ago and sold it this year for $225,000. What is the deduction they can take for the loss on the sale?

$0
$2,500
20% of $25,000
60% of $25,000

Answers

Answer 1

The amount they can take as deduction for the loss on the sale of their home is; $0.

How much can they take as deduction for the loss on the sale?

It follows that deductions can only be taken on losses incurred on the sale of property used for business or investment purposes.

Hence, since the item sold is their personal home, it follows that they cannot take any deduction on the loss on the sale.

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Related Questions


Explain the term "Business Plan" with relevant examples.
ontent of business plan

Answers

A business plan is a formal written document that contains the goals of a business and how they will achieve them. It also includes the time-frame they want to achieve those goals in.

Explain the competitive structure of the community

Answers

The competitive structure of the community simply entails how individuals compete with each other for survival.

What is a community structure?

It should be noted that a community structure is the internal structure of a neighborhood or an area.

In this case, the competitive structure of the community simply entails how individuals compete with each other for survival. They also compete for resources.

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Mr. Ananta Jalil has received a job offer from a large investment bank as an assistant to the vice
president. His base salary will be $35,000. He will receive his first annual salary payment one year from
the day he begins to work. In addition, he will get an immediate $10,000 bonus for joining the company.
His salary will grow at 4 percent each year. Mr. Jalil is expected to work for the next 5 years. What is the
present value of the offer if the discount rate is 12 percent?
[Hints: Mixed cash flow]

Answers

The present value of the offer is $145,466.83

What is the present value?

The first step is to determine the present value of the growing annuity. The formula that would be used is:

[tex]\frac{P}{r - g}[/tex] x [tex][1 - \frac{1 + g}{1 + r} ^{n} ][/tex]

Where:

p = base salary r = discount rate g = growth raten = number of years

$35,000 / (0.12 - 0.04) = 437,500

1 - (1.04/0.12)^5 = 0.31

0.31 x 437,500 = $135,466.83

Present value =  $135,466.83 + $10,000 =  $145,466.83

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PLEASE HELP WITH THIS DISCUSSION PLEASE
Today, money comes in many different forms. When you go to purchase something at a store, you pay money in the form of cash, a check, a credit card, or a debit card. Some people even have payment apps on their smart phones.

Now imagine paying for a pizza with seeds ... yes, seeds. What if everything was paid for by using seeds? How would this change the world we live in?

In Holland during the 1600s, tulip bulbs were very valuable. So valuable, in fact, that they were sometimes used as money. Try to imagine a tulip bulb, the seed of a tulip, being worth 4,000 gold pieces. During this time in history, tulip bulbs in Holland were more valuable than some homes. From our modern perspective, this sounds ridiculous. However, it is true.

Identify at least three potential problems with using tulips as a form of currency.

Answers

Three potential problems with using tulips (commodity) as a form of currency are Deterioration, Bulkiness, and High opportunity cost due to their inherent value.

What is a commodity as a form of currency?

Commodity money is a physical good with 'intrinsic value.'  This implies that the commodity can be used outside of its use as money.

Some historic commodity currencies included:

AlcoholCocoa beansCopper, Gold, SilverSaltSea shellsTeaTobaccoTulips.

While commodity money is durable, divisible, easily exchangeable, and rare, they are subject to the following disadvantages:

Deterioration.Bulkiness.Indivisibility.High opportunity cost due to its inherent value.Subject to supply and demand.

Thus, three potential problems with using tulips (commodity) as a form of currency are Deterioration, Bulkiness, and High opportunity cost due to their inherent value.

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punishments help comfort your behavior right

Answers

Answer:

true isthe answer

Follow on public Offer(FPO)
it is in primary market or secondary?

Answers

Answer:

Yes

Explanation:

Because I searched up

what are factors may affect in Planning process ​

Answers

The factors that may affect in the planning process include economic conditions, availability of quality information, etc.

What is planning?

It should be noted that planning simply means the steps that are put in place to achieve a particular goal.

In this case, the factors that may affect in the planning process include economic conditions, availability of quality information, etc.

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2. How could you assess whether new office designs are improving the organizational culture

Answers

Answer:A proper office layout is the key to a high performance office. This means both good performance from your employees but also your business. Companies that have a great culture are highly sought after by prospective employees and can provide a competitive advantage in both hiring and retaining staff.

Explanation:

Identify the new key features that distinguishes the Grand Cherokee L from the previous generation Grand Cherokee

Answers

The new features in Grand Cherokee L in comparison to the previous Grand Cherokee are the addition of seating rows, expansion in length, and having a larger wheel structure.

What is Grand Cherokee?

Grand Cherokee is a sport utility vehicle, that is, an SUV car being manufactured by an American manufacturer called Jeep.

The features of Grand Cherokee L in comparison to Grand Cherokee are as follows:

Number of seating rows: Grand Cherokee has two seating rows whereas Grand Cherokee L has three seating rows.Length: Grand Cherokee L is 15.1 inches in length which is greater than the Grand Cherokee of the previous generation.Wheelbase: Grand Cherokee L has a larger structure of wheels about 7 inches longer than previous ones.

Therefore, the add-ons in the Grand Cherokee L are described as above.

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What is an example of a work in the public domain?

Answers

U.S. Federal legislative enactments and other official papers are typically considered works in the public domain for purposes of copyright protection.

What do you mean by public domain?

Creative works that are not covered by intellectual property rules like copyright, trademark, or patent laws are referred to as being in the "public domain."

The works of William Shakespeare, Ludwig van Beethoven, Leonardo da Vinci, and Georges Méliès are examples of works that are in the public domain because they were either created before copyright existed or because the copyright period has passed.

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What is the current yield on a 3 year bond with 10% annual coupons, a par value of 100, and a current price of 107.87?

Answers

The Current Yield will be 27.55%

[tex]Current.Yield = \frac{Annual.Coupon.Payment}{Current.Bond.Price}[/tex]

Given in the question:

Annual coupon rate= 10%=0.1

Par value=100

time= 3 years

current value=107.87

To Find: Current Yield

What is current yield?

The current yield represents the bond's annual return based on a bond's current price and coupon payments. A bond's coupons payment divided by its current price is the formula for calculating current yield.

[tex]Current.Yield = \frac{Coupon.Payment}{Current.Bond.Price}*100[/tex]

Annual coupon payment = Par value * Annual coupon rate*time

⇒Coupon payment = 100*0.1*3

⇒Coupon payment=30

⇒ [tex]Current.Yield = \frac{30}{108.87}*100[/tex]

⇒ Current Yield=27.55%

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what is the price of a two year bond with a 9% annual coupon and a yield to maturity of 8%​

Answers

Based on the period of the bond, the coupon rate, and the yield to maturity, the price of the bond is $1,017.83.

How much does the bond sell for?

This can be found as:

= Present value of coupon payments + Present value of par value

Coupon is:

= 9% x 1,000 par value

= $90

Note: When par value is not given, assume it is $1,000.

Price is:

= (90 / (1 + 8%)) + (90 / (1 + 8%)²) + (1,000 / (1 + 8%)²)

= 160.4938 + 857.3388

= $1,017.83

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A co-worker has filed a document where you can access it if needed. This allows you to:
Question options:

copy the document in case of an emergency so both you and your supervisor will be able to access it.

purge yourself of paper.

copy the document so your supervisor will be able to access it as well.

None of the above

Answers

The filing of a document by a co-worker allows one to copy the document in case of an emergency, so both the person and the supervisor will be able to access it.

What is a document?

A piece of paper containing a material information, whether legally registered or not, is known as a document. However, as the times have evolved, a document can also be in an electronic form, other than paper.

Hence, option A holds true regarding the document of the co-worker.

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If quantity quantity demanded is not responsive to price changes then the product would be considered ____
A. Independent
B. Inelastic
C. Unit elastic

Answers

Answer:

B) Inelastic

Explanation:

consumers are not very responsive to changes in price.

Answer:

B

Explanation:

I stole the answer from my friend:)

In the list below, one statement is true and three are false.

When the firm is in financial distress, stockholders have an incentive to take risks. That's because riskier projects have higher NPV than the safer projects.
[ Select ]
The signaling theory says that it would be profit-maximizing for the firms to increase their amount of debt, as long as the tax savings from increasing debt are higher than the potential financial distress costs.
[ Select ]
Under both the pecking order theory and the signaling theory, firms that increase their debt amounts want to send a certain signal to the investors.
[ Select ]
Studies have shown that some firms choose their capital structure in such a way that it brings the most after-tax cash to its investors. For example, if a firm faces a 40% corporate income tax rate, its stockholders face a 25% income tax rate, and its creditors face a 32% income tax rate, then such firm may choose to have more debt (is the underlined part true or false?).
[ Select ]

Answers

Answer:

I think this is true and other are false. well just my guess

Explanation:

Studies have shown that some firms choose their capital structure in such a way that it brings the most after-tax cash to its investors. For example, if a firm faces a 40% corporate income tax rate, its stockholders face a 25% income tax rate, and its creditors face a 32% income tax rat

Which of the following heuristics or rules of thumb are used to make inventory decisions?

Estimated order quantity
Sale for sale
Period order quantity
Cash-to-cash cycle
All of the above

Answers

Estimated Order Quantity, Sale for Sale, Period Order Quantity and Cash-to-cash Cycle are all the heuristics that need to be followed while making inventory decisions. Option E is the correct answer.

All of the given options are rules of thumb while making an inventory decision. Estimated Order Quantity or EOQ is the number of additional units that a firm must place with respective to each specific order, so that the company can ensure that the inventory costs can be as minimal as possible.Period Order Quantity, is the pre-fixed number of orders that must be placed that is calculated over a specific period of time. Cash-to-cash Cycle refers to the time period between which the companies/firms make payments to inventory suppliers, and receive the cash for their goods and/or services from their customers.

Therefore, it is clear that all the above options are correct.

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If you are willing to accept some risk in your long-term savings strategy, you might want to invest in

A. stocks
B. certificates of deposit
C. savings accounts
D. bonds

Answers

If you are willing to take a risk in your long-term savings strategy, you could invest in stocks.

What are stocks?

Corresponds to a percentage of the share capital that a company trades on the stock exchange, with the investor who buys a fraction of this capital, the partner of a company, and receiving dividends on the profitability of a period.

Therefore, investing in stocks can be risky due to the economic conditions and financial health of the company, and it is essential to implement a diversification strategy to reduce the risk of losses.

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Answer:stocks

Explanation: DID not just take the quiz and look at the lesson ;)

00:00
4
al
12
15
-7 18
Time Left:Time Exceeded
Michelle Freitas: Attempt 1
Question 1 (5 points)
Why do flights have layovers?
To improve landing times
To distribute flights to the big city hubs
To generate more lost luggage
To introduce passengers to flights to different cities in the hub-and-spoke model
Question 2 (5 points)
Airport security checks are designed to
O frighten foreign travelers.

Answers

-7 18 minutes because of the bus

Qureshifeds dsdgdsf gfdgdf

Answers

What kind of question is this?

Thank you so much for this

In one or two sentences, explain how a govemment pays for expenses that are more than its revenues.

Answers

borrows money by issuing bonds

bonds are sometimes backed by things like tolls and feed for things like bridges & tunnels

raises taxes

raises fees for things tariffs and passports etc

According to the Conceptual Framework, which qualitative
characteristics enhance the usefulness of information that is relevant and faithfully
represented?
A. Comparability, Understandability, Timeliness, Verifiability
B. Consistency, Prudence, Measurability, Verifiability
C. Consistency, Reliability, Measurability, Timeliness
D. Materiality, Understandability, Measurability, Reliabilit

Answers

The conceptual framework which enhances the usefulness of information is represented as Comparability, Understandability, Timeliness, Verifiability. Thus the correct answer is A.

How to determine the usefulness of information?

Useful of information is determine by the factor that how effectively facts are utilised in purposeful manner. This piece of information should helps the reader in better decision making.

This information will be based on qualitative characteristics like understandability to the reader, comparability, timeliness and verifiability of the content to be used.

Therefore, option A Comparability, Understandability, Timeliness, Verifiability is the appropriate answer.

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Eagle Ridge, inc. issued 40 shares of $20 par value stock to its accountant in full payment for her $900 fee for assisting in setting up the new company. The entry for the issuance of the stock is a

a. debit to paid-in capital in excess of Par-Common for $100
b. debit to Common Stock for $800
c. credit to Common Stock for $800
d. credit to Common Stok for $900

Answers

The journal entry for the issuance of the stock for issue of 40 shares at a par value of $20, will affect a credit to Common Stock for $800.

What is a journal entry?

The process of maintenance of systematic and chronological records of financial transactions during a given financial period is known as a journal entry.

Hence, option C holds true regarding the journal entry.

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Jerry bought a house for $500,000 and made a $100,000 down payment. He obtained a 30-year loan for the remaining amount. Payments were made monthly. The nominal annual interest rate was 9%. After 10 years (120 payments) he decided to pay the remaining balance on the loan. (a) What was his monthly loan payment? (b) What must he have paid (in addition to his regular 120th monthly payment) to pay the remaining balance of his loan?

Answers

The monthly loan payment of the home loan will be 3443.67. which is to be repaid on the balance payment

What is a loan?

A loan is the lending of money by one or more people, businesses, or other entities to other people, businesses, or other entities. The recipient incurs a debt and is often responsible for both the principal amount borrowed as well as interest payments until the debt is repaid.

Calculations are as follows:

Interest per day is 25000 x 365, or 68.49.

2054.79 per month in interest (68.49 times 30)

360 times 500000 equals 1388.88 in principal.

2054.79 + 1388.88 = 3443.67 using simple math, the total monthly payment for principal and interest.

3443.67 x 360 =1,239,724.40. That amounts to 5%. Don't forget about taxes, insurance, and other obligations.

Thus, the correct values of repayment of loans are 3443.67.

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The graph depicts five demand curves. Please rank each curve in terms of elasticity. A curve that is more elastic than another curve for any given quantity can be considered more elastic.

Answers

From most elastic to inelastic: Elastic graphs look more horizontal while Inelastic graphs look more vertical.

What is elastic and inelastic demand curve?

Elastic demand curve indicates that the price changes greatly influenced the quantity demanded or supplied.

Inelastic demand curves indicates that a given percentage change in price will have a very smaller percentage change in quantity demanded or supplied.

Elastic demand curve is more sensitive to the price changes as compared to the Inelastic demand curve.

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An employee earned $61,300 during the year working for an employer. The Federal Insurance Contributions Act (FICA) tax rate for Social Security is 6.2% of the first $137,700 of employee earnings per calendar year, and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all earnings. The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes (SUTA) tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee’s pay. What is the amount of total unemployment taxes the employee must pay?

Answers

Based on tax laws, the total amount of unemployment taxes that the employee will pay is $0.

What amount of unemployment taxes do employees pay?

Unemployment taxes are paid by employers on the basis of the amount they pay their employees.

This means that the employees don't actually pay unemployment taxes, but their salaries allow for the calculation of unemployment taxes.

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The amount of unemployment taxes paid by the employees is equivalent to zero in accordance with the rules made by the IRS authority.

What is IRS?

IRS stands for Internal Revenue Service and is the authority in the US country that monitors and regulates the taxation system of the US.

The unemployment taxes are the impositions put on the income of employees but are required to be paid by the employer. It is merely done to provide funding for workforce agencies of states in the US country. It is determined as per the rate permitted by the IRS authority.

Therefore, the employee needs to pay nothing in respect of the unemployment taxes.

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Knowledge of which of the following
types of funding is required for an
agricultural management position?
A.
Crowdfunding
B. Micro loans
C. Vertical integration
D. Government grants

Answers

Government grants i the type of funding required for an agricultural management position.

What is a grant?

Grant is like a sum of money given by an institution or government agencies for a particular purpose.

The aim of the grant is to support a particular course or fund a project.

Hence, government grants is the type of funding required for an agricultural management position.

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Question 2

The cash flow for projects A, B, C are given below:

Year

Project A

Project B

0

1

2

-100

0

200

-100 100

0

Project C

-100

0

0

3

-100

100

300

(a) Calculate the payback period and net present value for each project (assuming a 10% discount rate).

(b) If A and B are mutually exclusive and C is independent, which project, or combination of projects, is preferred using (1) the payback method or (2) the net present value method? What do the results tell you about the value-additivity properties of the payback method?

Answers

Answer:

A

Explanation:

Calculate the payback period and net present value for each project assuming a 10 % discount rate

How do you calculate sales tax? How do you calculate a discount? Please explain and give examples. Thanks!

Answers

Sales tax is calculated using tax rate . Discount is calculated using the selling price and list price of the item .

How do you calculate sales tax?

Add the tax rate to the cost of your good or service. If the tax rate is expressed as a percentage, convert it to decimal form by multiplying the result by 100. Then multiply this number using the formula below.

Find the list price and the tax rate.To obtain the tax rate as a decimal, divide the tax percentage by 100.To calculate tax, multiply the list price by the decimal tax rate.For the final price, multiply the list price by the tax rate.

Ex. If you spend $400 on a new television and live in a region where sales tax is 7%, you would be required to pay $28 in sales tax. The total cost to you would be $428.

How do you calculate a discount?

The price difference between an item's listed price (list price) and its selling price is known as the discount. Discount is therefore calculated as follows: Discount = List price - selling price.

Ex. A product may be discounted by $10 from its list price, which is equivalent to a 10% discount.

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briefly describe micromarketing and explain what weakness it shares
with mass media advertising.

Answers

Micromarketing is a type of advertising that focuses on appealing to a small, niche market. Micromarketing is the direct marketing of goods or services to a specific consumer base.

It has the following weakness with mass media advertisement:

It is more time consuming as in micromarketing you first have to identify the customer base and then target only themIt incurs higher costs as to target only specific audience traditional methods can't be used and it increases the costThere's always a possibility of targetting wrong audience or not able to identify the correct customer base which can result all the money and time invested to go in vain

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What makes a good manager

Answers

Good mangers achieve hard-working, productive and effective workforces and they attract exceptional staff and they add to profits and reduce costs.
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