Mutt and Jeff each have a 50% interest in Keni Partnership. The partnership and the individuals file on a calendar-year basis. For its Year 4 tax year, Keni had a $30,000 loss. Mutt's adjusted basis in the partnership interest on January 1, Year 4, was $8,000. In Year 5, Keni partnership had a profit of $28,000. Assuming that there were no other adjustments to Mutt's basis in the partnership in Year 4 and Year 5, what amount of partnership income (loss) would Mutt show on his Year 4 and Year 5 individual income tax returns

Answers

Answer 1

Answer:

A partner's distributive share of partnership loss is allowed only to the extent of the adjusted basis of the partner's partnership interest:

Computation:

Year 4 Year 5

Mutt's share of profit(loss) at 50% ($15,000) $14,000

Basis 8,000 0

Unallowed loss (carryover) ($ 7,000) ($ 7,000)

Taxable income(loss) allowed ($ 8,000) $ 7,000


Related Questions

what does it mean when the fed raises interest rates

Answers

What Happens When the Fed Raises Rates?

——> When the Fed raises the federal funds target rate, the goal is to increase the cost of credit throughout the economy.

An investor purchased 50 shares of stock in a company in 2015. At the time the investor purchased the stock, the value of the stock was priced at $5 per share. The investor sold all 50 shares of stock in 2019. The value of the stock at the time of sale was $6.50 per share. What is the capital gain the investor earned on this investment?

$250

$325

$75

$50

Answers

Answer:

$75

Explanation:

$5 to $6.5 is a 1.3% increase and if the investor bought 50 shares of $5 he bought a total of $250 worth of stock. If you multiply the $250 by 1.3% it will be $325. But the question asks for the capital gain so you would subtract $325 and $250 which is $75.

If the value of the stock at the time of sale was $6.50 per share. The capital gain the investor earned on this investment is $75.

Capital gain

Using this formula

Capital gain=(Number of shares× increase in value of stock)

Let plug in the formula

Capital gain=[50x ($6.50 per shares- $5 per shares)]

Capital gain=50× $1.50 per shares

Capital gain=$75

Therefore the capital gain the investor earned on this investment is $75.

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The code requires that realtors advertising clearly identify:

Answers

Based on real estate standard practice, the code requires that realtors' advertising identify "the member's professional status or status as a Realtor."

The Code of Ethics for Realtor

The code of ethics for realtors is a document that contains the rules and regulations that guide the practice of realtors.

The code of ethics prevents the clients from being exploited by some unsuspecting realtors.

Hence, based on Article 12 of the National Association of Realtors Code of Ethics, the correct answer is "the member's professional status or status as a Realtor."

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A mother wants to divide $680.00 among her children according to the ratio 2:4:6. The shares would be

Answers

Answer:

The shares would be… 113.33, 226.66, and 340

Explanation:

First step

2:4:6=12

2/12=1/6

4/12=1/3

6/12=1/2

Step 2

Since 1/6 of the money is for one child it would be 1/6 times (of) 680. This equals 113.33, you do the same for the other two children. You get 226.66 and 340 for the other two children.

:)

Given the following information of a trader calculate the total current assets?

Motor van $3000

Prepaid rates $ 500

Debtors. $3000

Stock. $. 700

Accrued wages. $. 75

Equipment. $500

A. $ 4200
B.$ 5000
C.$2400
D.$3700

Answers

Answer:

A.

Explanation:

CORRECT IF IM WRONG

SORRY FROM NO EXPLANATION

which is the largest source of tax revenue in the united states?

Answers

Answer:

Individual income taxes.

Explanation:

This has been the largest single source of federal revenue since 1950.

​________ play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities.

Answers

Intermediaries play an important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities.

When goods are produced or manufactured by producers, there will be need to make those goods available to final consumers.

The intermediaries- Wholesalers and retailers buys these goods from the producers and make them available to final consumers in small quantities.

By making the goods available to consumers, the intermediaries are playing important role in matching supply and demand by providing consumers with a broad assortment of products in small quantities.

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Amelie received an email that claimed to be from a Nigerian prince who needed help setting up
a bank account but would pay thousands of dollars if Amelie helped him. What kind of email is
this?
a) Ad
b) Spam
c) Junk
d) Support

Answers

Answer:

Explanation:

Spam

what activities does marketing involve besides selling?

Answers

Answer:The activities involved in marketing are

Product and Service Selection. A manufacturer or service provider ideally listens to its customers and prospects before making product and service decisions.

Product or Service Pricing

Product Placement Activities

Incentives and Promotional Activities.

Explanation:

Olivia asks several real estate agents to help her sell her house. A buyer is found. At the closing, no agent receives a commission. What type of listing agreement did Olivia make

Answers

Answer: Open Listing

Explanation: The seller sold the real estate herself therefore she did not have to pay a commission.

If a product is considered a bundle of attributes, what would be two attributes of a tube of toothpaste

Answers

If a product is considered a bundle of attributes, the two attributes of a tube of toothpaste will be: Weighs 10 grams and is Water resistant.

A product is considered a bundle of attributes that could be tangible or not.

In describing the product attributes of a toothpaste tube, we could reference the fact that it is lightweight and is resistant to water.

These attributes are the features that make the product attractive to consumers.

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Answer: Flavor of toothpaste & Size of container

Explanation:

The correct answer for smartbook.

What is the formula for calculating simple interest?
A. Simple interest - Principal - Rate < Time

B. Simple interest = Principal - Rate + Time

C. Simple interest = Principal Rate < Time

D. Simple interest = Principal + Rate < Time

Answers

Explanation:

the formulary for calculating simple interest is

simple interest= principal×rate×time/100

the formula for calculating simple interest is Simple interest = Principal - Rate + Time

What is simple interest?

Simple interest is a calculation of interest that doesn’t take into account the effect of compounding.  In many cases, interest compounds with each designated period of a loan, but in the case of simple interest, it does not.  The calculation of simple interest is equal to the principal amount multiplied by the interest rate, multiplied by the number of periods.

"The period must be expressed for the same time span as the rate. If, for example, the interest is expressed in a yearly rate, such as in a 5% per annum (yearly) interest rate loan, then the number of periods must also be expressed in years. Note that sometimes changes to interest rates may be expressed in basis points (BPS). It may be worth your while, as a financial professional, to learn how to convert BPS into interest rates.

What is principal?

Principal is most commonly used to refer to the original sum of money borrowed in a loan or put into an investment. It can also refer to the face value of a bond, the owner of a private company, or the chief participant in a transaction.

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Which is NOT a part of the Texas Real Estate Commission's (TREC) complaint investigation and disposition procedures?

Answers

Answer:

The answer is cooperative. Which is NOT required by the Texas Real Estate Commission (TREC) for a real estate brokerage organized as a business entity? The answer is a copy of the bylaws of the business entity must be on file at TREC. ... The answer is the Texas Business Organization Code.

Post Oak Mall contains two department stores, numerous specialty stores, a movies theater, and various restaurants. Since it does not contain any convenience stores, Post Oak Mall is an example of a(n) _____ shopping center.

Answers

Because Post Oak Mall does not contain convenience stores, then, Post Oak Mall is an example of a regional shopping center.

A regional shopping center refers to a large shopping area meant to provide goods and services to people living in a particular area or state

A regional shopping center usually contain at least departmental store and any number of speciality stores.

Hence, because the shopping center does not contain any convenience stores, then, it is a regional shopping center

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the tax cut will have a larger impact on aggregate demand in the economy with the .

Answers

The larger impact will be felt on aggregate demand in the economy and the Larger MPC when there is tax cut.

Tax cuts refers to when there is reduction in tax payment along with the government revenue.

The main reason for Tax cuts is to decrease the income of government and to increase the income of tax payers.

In conclusion, the larger impact will be felt on aggregate demand in the economy and the Larger MPC when there is tax cut.

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A way of spreading stress among employees and providing a respite from particularly stressful jobs is basically job ______

Answers

Answer:

Job Rotation

Explanation:

Job rotation is basically a way of spreading stress among employees and providing a respite—albeit temporary—from particularly stressful jobs

Hope this helps!

Job rotation is a management strategy in which employees are rotated between two or more assignments or jobs at regular intervals to expose them to all aspects of an organization. It is a way of spreading stress among employees and providing a respite from particularly stressful jobs.

What is job rotation?

Job rotation is a well-planned practice that is used to reduce boredom from doing the same type of job every day and to discover an employee's hidden potential. It aids management in identifying employee talent and determining what he or she excels at. It allows a person to pursue his or her own interests and gain experience in various fields or operations.

Job Rotation is a pre-planned approach with the goal of testing the employee's skills and competencies in order to place him or her in the appropriate position. Furthermore, it reduces job monotony, provides them with broader experience, and assists them in gaining more insights.

Therefore the correct answer is job rotation.

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how much does it cost to tent a house for termites

Answers

Termite Treatment Cost

Termite treatment costs between $222 and $931, or $576 on average. Depending on the type of treatment, size of your home and severity of the infestation, you may pay anywhere from $3 to $16 per linear foot. Compare quotes from exterminators near you for the best treatment solution and price. Dealing with termite problems gets more expensive over time. The moment you suspect your home has them, you should hire a pro for inspection and treatment.

When a firm depends on customer advocacy for the promotion of its products, it faces which challenge?

Answers

A challenge which would faced by a business firm that depends on customer advocacy for the promotion of its products is: It is difficult to control the promotional messages created by customers.

Customer advocacy can be defined as a strategic process in customer service that involves a business firm placing its focus on what is deemed to be best for its end users or customers. Thus, it typically involves a business firm putting the needs of its customers first while delivering a solution-based assistance through its products and services.

However, a challenge which would faced by a business firm that depends on customer advocacy for the promotion of its products is that it is usually difficult to control the promotional messages created by customers, whether or not it is in line with firm's policy and standards.

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Income taxes are taxes that are paid on any financial gain. Purchased goods. Homes, land, or property. Special goods and activities.

Answers

Income taxes are those taxes that are paid on any financial gain.

Income taxes are a progressive type of tax system. Them are taxes that are paid on all forms of income.

This type of tax , taxes those that have more income that those that have lower income.

The government uses the income tax to fund several public services and also use it for the provision of goods to the citizens in the country.

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Answer:

any financial gain

Explanation:

e2022

A census is a regularly-occurring and official count of a particular population. Census data available at the United States Census Bureau website are an example of:_______.
A. Private information
B. Public behavior
C. Private behavior
D. Public information

Answers

Considering the demographic information analysis, the Census data available at the United States Census Bureau website are an example of "public information."

What is Public Information?

Public Information is a term that is used to describe any information that is made available to the public regardless of the nature or format of the information.

Census Data as a Public Information

Given that Census data are posted to the United States Census Bureau website where anybody from anywhere in the world can access the information, this is an example of Public Information.

Hence, in this case, it is concluded that the correct answer is option D. Public Information.

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Explain the difference between goods and services.

Answers

Answer:

Goods are things you buy. For example, if you were to buy fruits from a supermarket, you would be buying goods. Services are something you pay for to benefit you in some way. If you were to go to a hair salon or a nail salon, you would be paying for services.

Explanation:

Answer:

is your  fat

Explanation:

is your fat

a $5,000 tv ad will cause 250 people to attend a show, while a $4,000 newspaper ad will cause 280 people to attend. bob wants to use the most effective method to get 500 people to attend a show. which advertising method should he use?

Answers

i will advice Bob to use the most effective method which is Newspaper advertisement for his show.

The data collected includes:

$5,000 tv ad will make 250 people to attend the show.$4,000 newspaper ad will make 280 people to attend the show.

From the data, we will observe that the newspaper advert is more economical and cost saving because Bob will be able to spend less and get more people to his show in comparison to Tv ads.

In conclusion, i will advice Bob to use the most effective method which is Newspaper advertisement for his show

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What is the annual cost attributed to the treatment of mental illnesses and the relative loss of income in the United States

Answers

There are indirect cost of mental illness in the world today. The annual cost attributed to the treatment of mental illnesses and the relative loss of income in the United States is $467 billion.

Mental illness is simply  known as mental health disorder. This is simply defined as large scope of mental health conditions. This disorders often influence one's mood, thinking and behavior.

The common Examples are depression, anxiety disorders, schizophrenia, eating disorders, etc.

There are over 43.8 million adults that experience mental illness in a given year as stated by research and as such demands a lot of money for treatments.

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Which of the following expressions is equal to the total investment of a no-load mutual fund? a. Net assets Ă· number of shares b. Net asset value Ă· number of shares c. Net asset value x number of shares d. Offer price x number of shares.

Answers

The answer choice which is equal to the total investment of a no-load mutual fund is:

C. Net asset value x number of shares

According to the given question, we are asked to state the answer choice which is equal to the total investment of a no-load mutual fund and how this affects the market shares.

As a result of this, we can see that in a no-load mutual fund, there has to be the net asset value which is multiplied by the number of shares which a person currently holds and is equal to the total investment made.

With this in mind, a net asset is the total assets which a company has after the liabilities have been removed.

Mathematically, it is calculated by making an addition of the total fixed assets plus the total current assets minus the total liabilities.

Hence, the total investment of a no-load mutual fund is found by the net asset value multiplied by the number of shares.

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What is the GDP?
A.
The value of the products and services produced in a country
B.
The natural environment of a country
C.
The geographical location of a business
D.
The capitalist system used in the U.S.


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

the market value of all the final goods and services produced in a specific time period

Explanation:Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period

A credit card is not considered money because A. it is not a store of value. B. it simply defers rather than completes transactions that ultimately involve the use of money. C. it is not a unit of accounting. D. All of the above.

Answers

Credit or debit card dose have value whatsoever !

Paul obtains a $300,000 mortgage loan a 5/1 interest-only ARM with a 10 year balloon at a 3% start rate, a 2% margin, and 2/6 caps. The initial monthly payment for the loan is $750. On the anniversary date of the loan, the index being used adjusts as follows: Year 1: 2.50% (initial year); Year 2: 2.75%; Year 3: 3.25%; Year 4: 3.50%; Year 5: 3.75%; Year 6: 3.00%; Year 7: 2.80%; and Year 8: 5.00%. What will be Paul's monthly payment in year 4

Answers

Paul's monthly payment in year 4 is $1,050.

Data and Calculations:

Mortgage loan = $300,000

Mortgage term = 10 years

5/1 interest-only ARM rate = 3%

Interest margin = 2%

Interest caps = 2/6

Initial monthly payment = $750

The index adjustment is as follows:

Year 1   2.50% (initial year)

Year 2  2.75%

Year 3  3.25%

Year 4  3.50%

Year 5  3.75%

Year 6  3.00%

Year 7  2.80%

Year 8  5.00%

Thus, Paul's monthly payment in year 4 is $1,050 ($750/2.50% x 3.50%).

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Tim loves to landscape and wants to start a landscaping business. Which of the following is a challenge he may face?

1. He will have no variety throughout the day.

2. He will have no control over his work

3. He will have to follow a strict dress code

4. He will have unpredictable income



Please hurry I’m doing a final exam + will give brainliest

Answers

Answer:2 Maybe

Explanation:

If you decide to advertise in a newspaper, which tip could be used to help you write an effective and appealing ad?

Answers

If you decide to advertise in a newspaper, the tip that could be used to help you write an effective and attractive ad is to create a headline that catches your target audience's attention, as this is the first contact with your ad that may cause interest in advertising.

Some tips for writing an effective ad in a newspaper are:

Determine the target audienceDetermine ad contentBuild a good layoutOffer unique opportunitiesCall consumers to action

Therefore, it is essential that when choosing the channel where your ad will be published, you verify that it is the most appropriate channel to attract the attention of your audience.

In a newspaper, it is effective to use advertisements that portray urgency, opportunity, and calls to action.

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Match each type of employment with its definition (2 points)
Unemployment resulting from mismatches between
employer needs and employee skills.
Unemployment associated with workers who are
between jobs
Unemployment associated with the highs and lows of
the business cycle.
:: frictional unemployment
cyclical unemployment
* structural unemployment

Answers

Each type of employment has been matched with its definition thus:

Frictional unemployment: Unemployment associated with workers who are  between jobs Cyclical unemployment: Unemployment resulting from mismatches between  employer needs and employee skills. Structural unemployment: Unemployment associated with the highs and lows of  the business cycle.

There are different causes of employment. Frictional unemployment is the timeframe between the period an individual lost his job and seeks another.

Structural unemployment is a result of inconsistencies in the labor market.

Cyclical unemployment occurs when the demand from the employee is not met with the skills of the employer.

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Answer:

Here, Give me my brain

Explanation:

Cyclical unemployment- Unemployment associated with the highs and lows of the business cycle.

Structural unemployment- Unemployment resulting from mismatches between employer needs and employee skills.

Frictional unemployment-  Unemployment associated with workers who are between jobs.

Just took the test, the other answer is mixed up

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