How much is robert''s recognized gain on the sale

Assignment Help Taxation

Reference no: EM13272789

Robert sold his ranch which was his principal residence during the current taxable year At the date of the sale, the ranch had an adjusted basis of 460000 and was encumbered by a mortgage of 200000 the buyer paid him 500000 in cash, agreed to take the title subject to the 200000 mortgage, and agreed to pay him 100000 with interest at 6 percent one year from the date of sale. How much is robert's recognized gain on the sale.

Reference no: EM13272789

Questions Cloud

Combined with beta-lactamase inhibitors : Some antibiotics are combined with beta-lactamase inhibitors. What is the function of beta-lactamase inhibitors and what are some examples of beta-lactamase inhibitor containing antibiotics

Target adult orthodontia patients : A dentist in Cali, Colombia has decided to target adult orthodontia patients in the United States. He offers the Invisalign braces that are rather high priced in the United States

Identified emerging consumer marketing trends : Read the %u201CFaith Popcorn: Trend-spotter%u201D article. Analyze the identified emerging consumer marketing trends and determine the marketing implications for an organization.

Potential for harnessing of tidal energy in india : Which of the following has a potential for harnessing of tidal energy in India?

How much is robert''s recognized gain on the sale : title subject to the 200000 mortgage, and agreed to pay him 100000 with interest at 6 percent one year from the date of sale. How much is robert's recognized gain on the sale.

The function should accept the future value : The function should accept the future value, annual interest rate, and number of years as arguments. It should return the present value, which is the amount that you need to deposit today. Demonstrate the function in a program that lets the user expe..

Find the implied volatility of the following european call : Find the implied volatility of the following European call. The call has four months until expiry and an exercise price of $100. The call is worth $6.51 and the underlying trades at $101.50. Assume the risk free interest rate is 8% per annum.

Do these two variables explain a reasonable amount of the : Develop a multiple linear regression equation that describes the relationship between tenure and the other variables in the chart above. Use the Analysis Toolpak located in Excel to perform this multiple regression.

Two independent uniform random variables : x1, x2, x3 are zero mean Gaussian random variables with STD=4. Let x1 and x2 be independent and x3= a*x1+b*x2. Find the constants “a” and “b” such that the correlation between x1 and x3 is 0.3. What is the correlation between x3 and x2?

User Account

All Pages