which of the following would not be deductible in arriving at net investment income. a, investment...
which of the following would not be deductible in arriving at net investment income. a, investment expense, B, mol from a sec 162 business. c, passive activity expense. D, rental expenses
Homework Answers
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which of the following would not be deductible in
arriving at net investment income. a, investment...
Utilities and maintenance deductible is? Deductible depreciation is? Net income from activity? If it’s approach is...
Utilities and maintenance deductible is? Deductible
depreciation is? Net income from activity? If it’s approach is used
for deduction, what is the net income from activity? What is the
order of deduction?
this is for the year ending in 2019. also i meant to put if the IRS
aproach is used for the deductions what would be the net income
from the activity.
2 points Saved QUESTION 49 B. During the year Martin rented his vacation home for three months...
Which of the following income types is not subject to the Net Investment Income Tax (NIIT)?...
Which of the following income types is not subject to the Net Investment Income Tax (NIIT)? A. Rental. B. Interest. C. Dividends. D. Business.
Which of the following statements is not correct on investment interest? Choose one answer. a. Form...
Which of the following statements is not correct on investment interest? Choose one answer. a. Form 4952 is used to determine the deductible investment interest b. Investment income includes interest, dividends, royalties, and annuities. c. Investment income is generally derived from a non-passive activity. d. Investment interest is limited to net investment income
Which of the following would be a deductible business expense under IRC sec 162? a. $...
Which of the following would be a deductible business expense under IRC sec 162? a. $ 30,000 in office rent paid on office for a self-employed business. b. $ 750,000 paid to a corporate president / shareholder. $ 400,000 is what a typical salary would be. c. $ 900 in political contributions to a politician. d. $ 100 in a fine for the office sprinkler system not up to local code. e. $ 500 in continuing education costs for a...
Which one is QBI, business income or (deductible loss), and rental real estate income or ( deductible loss) INTERVIE...
Which one is QBI, business income or (deductible loss), and
rental real estate income or ( deductible loss)
INTERVIEW NOTES 1. Emily Clark (DOB 04/29/1978) is single and has one young daughter Madison IDOB 07/31/2012) who lived with her all year. Emily was unemployed for two months in 2018 and cashed in her 401(k) savings to pay household expenses. She took courses this year at the community college to improve her job skills as a health aide. Emily tells you...
Which of the following can be used to offset a passive loss? a. Dividend income from...
Which of the following can be used to offset a passive loss? a. Dividend income from stock held as an investment b. Pension income c. Passive income such as income from a limited partnership d. Active income such as wages e. All of choices are correct but "Active income such as wages". q6 Arnold purchased two rental properties 6 years ago. He actively participates in their management. During 2018, Arnold had income of $22,000 from one of the rentals. He...
Which one of the following is not a deductible expense in computing partnership ordinary income? a. ...
Which one of the following is not a deductible expense in computing partnership ordinary income? a. Guaranteed payments to partners b. Salaries and wages paid to persons who are not partners c. Investment interest d. Contributions to employee benefit plans e. All of the above are deductible in computing partnership ordinary income
Please show all calculations. 14. Shunwei reports the following income and loss: Salary Income from activity...
Please show all calculations.
14. Shunwei reports the following income and loss: Salary Income from activity A Loss from activity B Loss from activity C $ 100,000 50,000 (20,000) ( 40,000) Activities A, B, and C are all passive activities. (FREE BEE) Based on this information, Chunwei has A) adjusted gross income of $90,000 B) salary of $100.000 and deductible net losses of $10,000 C) salary of $100.000 and net passive income of $50,000 D) salary of $100,000, passive income...
In the current year, Julia earns $3,000 in net investment income and incurs $14,000 of investment...
In the current year, Julia earns $3,000 in net investment income and incurs $14,000 of investment interest expense. What is the amount of investment interest expense deductible this year? A.$0 B. $3,000 deductible this year; $11,000 carried forward to next year. C. $9,000 deductible this year; $5,000 carried forward to next year. D. $14,000 deductible this year; nothing to be carried forward to next year.
Which of the following legal expenses are deductible for AGI in 2019? Select one: 0 a....
Which of the following legal expenses are deductible for AGI in 2019? Select one: 0 a. Only a. and b. qualify. O b. Choices a., b., and c. qualify. 0 C. Incurred in connection with a trade or business. O d. Incurred for tax advice relative to the preparation of an individual's income tax return. o e. Incurred in connection with rental or royalty property held for the production of insome.
Utilities and maintenance deductible is? Deductible
depreciation is? Net income from activity? If it’s approach is used
for deduction, what is the net income from activity? What is the
order of deduction?
this is for the year ending in 2019. also i meant to put if the IRS
aproach is used for the deductions what would be the net income
from the activity.
2 points Saved QUESTION 49 B. During the year Martin rented his vacation home for three months...
Which one is QBI, business income or (deductible loss), and
rental real estate income or ( deductible loss)
INTERVIEW NOTES 1. Emily Clark (DOB 04/29/1978) is single and has one young daughter Madison IDOB 07/31/2012) who lived with her all year. Emily was unemployed for two months in 2018 and cashed in her 401(k) savings to pay household expenses. She took courses this year at the community college to improve her job skills as a health aide. Emily tells you...
Please show all calculations.
14. Shunwei reports the following income and loss: Salary Income from activity A Loss from activity B Loss from activity C $ 100,000 50,000 (20,000) ( 40,000) Activities A, B, and C are all passive activities. (FREE BEE) Based on this information, Chunwei has A) adjusted gross income of $90,000 B) salary of $100.000 and deductible net losses of $10,000 C) salary of $100.000 and net passive income of $50,000 D) salary of $100,000, passive income...
Which of the following legal expenses are deductible for AGI in 2019? Select one: 0 a. Only a. and b. qualify. O b. Choices a., b., and c. qualify. 0 C. Incurred in connection with a trade or business. O d. Incurred for tax advice relative to the preparation of an individual's income tax return. o e. Incurred in connection with rental or royalty property held for the production of insome.
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