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gregori [183]
1 year ago
5

Gary, who is single, sells his principal residence (owned and occupied by him for seven years) in November 2019 for a realized g

ain of $148,000. He had purchased a more expensive new residence eight months prior to the sale. He anticipates that he will occupy this new house as his principal residence for only about 18 additional months. He expects it to appreciate substantially while he owns it. Gary would like to recognize the realized gain on the 2019 sale to offset a large investment loss from the sale of stock. Can he recognize the realized gain of $148,000 on the sale of his principal residence in 2019? Explain.
Business
1 answer:
daser333 [38]1 year ago
8 0

Answer:

The offer of Grays head living arrangement in November 2016 Qualifies for the 121 exclusion. Under the arrangement of the demonstration, none of dark's Realized Gain of $ 148000 Recognized.  

Grey can select to Forgo the 121 Exclusion, right now/her perceived increase is $1,48,000 making this political decision to swear off this political decision is useful in light of the fact that dim is anticipating selling his new head habitation inside year and a half and the acknowledged addition is wanted to be bigger than $148,000.

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1 year ago
A company borrowed $40,000 cash from the bank and signed a 6-year note at 7% annual interest. The present value of an annuity fa
Nat2105 [25]

Answer: $8,391.90

Explanation:

So the company borrowed $40,000 from a bank.

They are to pay 7% interest on the note per year for 6 years.

We are to find the annual payments.

7% represents a constant payment schedule per year so we can use an Annuity formula.

Seeing as the Annuity factor has been calculated for us already we don't need to formula though.

The present value of an annuity factor for 6 years at 7% is 4.7665.

Calculating the present value of the annual payment can be done as follows,

= Amount / PVIFA (Present Value Interest Factor for an Annuity)

= 40,000/4.7665

= 8391.90181475

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The annual payments equal $8,391.90.

5 0
2 years ago
Sally was recently given feedback from her boss that the content of her quarterly financial presentation is excellent; however,
scoray [572]

Answer:

The correct answer is C that is the accuracy of the data.

Explanation:

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Therefore, the aspect of the effectiveness of the communication which is not referred by the boss is accuracy of the data while talking about the execution.

7 0
2 years ago
Hollie works as a salesperson for Lands' End. Her duties consist of taking customer orders over the telephone and ensuring that
Oduvanchick [21]

Answer: Inside order taker

Explanation:

The Inside order taker is one of the type of salesperson in an organization and the main responsibility of the inside order taker is to collecting the orders of the various types of products and then make a entries about the sales order at the counter.  

 According to the given question, Hollie is works as the salesperson for the Land's end and her duty is to taking the various types of orders from the consumer over the mobile or telephone system and ensure that the information is properly given by the consumer.

 The inside order taker then making a proper entries of the orders and it also helps in increase the customer frequency for the new orders in an organization.  

 Therefore, Inside order taker.

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2 years ago
Data obtaing by manipulating factors under tightly controlled conditions to test cause and effect is an example of:__________
Otrada [13]

Answer:

experiment.

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Experiment is a scientific investigation to test a hypothesis. It determines the relationship of the independent variable to the other variables in a controlled setup. It is essential to keep it control so that cause-effect relationship explained the outcome when other factors are manipulated. Experiment must prove its validity and reliability by obtaining the same results in a repeatable procedure.

6 0
1 year ago
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