Business, 23.12.2019 18:31 jialala

Zach and bridget got married, bought a home for $305,000, and lived in it for 6 years. the couple got divorced 4 years ago, and bridget received title to the home in the divorce settlement. she continued to live in the home until she sold it this year for $590,000. zach had used one room in the home as a qualified home office for the purpose of running his schedule c business. he used the regular method to calculate his home office deduction and correctly deducted a total of $8,500 depreciation on their mfj returns. bridget, who did not remarry, used zach's old home office as a guest bedroom after the divorce. bridget paid relator commissions of $16,400 when she sold the property.

describe any tax consequences when home ownership transferred to bridget upon divorce. calculate bridget's realized gain or loss and recognized gain or loss on the sale of their home.

Answers: 3

Show answers

Another question on Business

Business, 22.06.2019 21:00

Suppose either computers or televisions can be assembled with the following labor inputs: units produced 1 2 3 4 5 6 7 8 9 10 total labor used 3 7 12 18 25 33 42 54 70 90 (a) draw the production possibilities curve for an economy with 54 units of labor. label it p54. (b) what is the opportunity cost of the eighth computer? (c) suppose immigration brings in 36 more workers. redraw the production possibilities curve to reflect this added labor. label the new curve p90.

Answers: 2

Answer

Business, 22.06.2019 22:00

On january 8, the end of the first weekly pay period of the year, regis company's payroll register showed that its employees earned $22,760 of office salaries and $70,840 of sales salaries. withholdings from the employees' salaries include fica social security taxes at the rate of 6.20%, fica medicare taxes at the rate of 1.45%, $13,260 of federal income taxes, $1,450 of medical insurance deductions, and $860 of union dues. no employee earned more than $7,000 in this first pay period. required: 1.1 calculate below the amounts for each of these four taxes of regis company. regis’s merit rating reduces its state unemployment tax rate to 3% of the first $7,000 paid to each employee. the federal unemployment tax rate is 0.60

Answers: 3

Answer

Business, 22.06.2019 22:20

As a result of a labeling mistake at the chemical factory, a farmer accidentally sprays weedkiller rather than fertilizer on half her land. as a result, she loses half of her productive farmland. if the property of diminishing returns applies to all factors of production, she should expect to seea. a decrease in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. b. an increase in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. c. an increase in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor. d. a decrease in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor.

Answers: 2

Answer

Business, 23.06.2019 00:50

Mr. drucker uses a periodic review system to manage the inventory in his dry goods store. he likes to maintain 15 sacks of sugar on his shelves based on the annual demand figure of 225 sacks. it costs $2 to place an order for sugar and costs $1 to hold a sack in inventory for a year. mr. drucker checks inventory one day and notes that he is down to 9 sacks; how much should he order?

Answers: 1

Answer

You know the right answer?

Zach and bridget got married, bought a home for $305,000, and lived in it for 6 years. the couple go...

Questions