Reference no: EM132812907
Question - During the year, David rented his vacation home for three months and spent one month there. Gross rental income from the property was $15,000. David incurred the following expenses: mortgage interest, $3,000; real estate taxes, $1,500; utilities, $800; maintenance, $500; and depreciation, $14,000. What are the tax consequences under the court's approach?
a. Goss income of $5000 and no deductions
b. Gross income of $5000 and deductions of $5000 from AGI
c. Gross income of $5000 and $3875 of deduction for AGI and $1,125 deductions from AGI
d. Gross income of $5000 and $500 of deduction for AGI and $4,500 deductions from AGI
e. Gross income of $5000 and $5000 of deductions for AGI
f. None of the above
|
How you are going to evaluate the recommendations
: Discuss how you are going to evaluate the recommendations rather than just saying you will evaluate them. What will you take into consideration?
|
|
Plot the supply and demand curves
: Suppose that the supply curve for private schoolteachers is Ls = 20,000 + 350W, and the demand curve for such schoolteachers is Ld = 100,000 - 150W, where L = t
|
|
Two main considerations in bankruptcy law
: Why bankruptcy laws are important for the proper working of the price mechanism? What are the two main considerations in any bankruptcy law?
|
|
What would recommend matt do in order to minimize
: Assuming Matt is flexible with the timing of his charitable contributions, what would you recommend Matt do in order to minimize his tax liability?
|
|
What are the tax consequences under the court approach
: Gross rental income from the property was $15,000. What are the tax consequences under the court approach
|
|
What is digital rights management
: Why is intellectual property entitled to legal protection? What is Digital Rights Management? What was the 1984 Sony Supreme Court case about?
|
|
What about gigabit ethernet
: Discuss how you are going to evaluate the recommendations rather than just saying you will evaluate them. What will you take into consideration?
|
|
Plot the supply and demand curves
: Suppose that the supply curve for private schoolteachers is Ls= 20,000 + 350W, and the demand curve for such schoolteachers is Ld= 100,000 -150W
|
|
What will beakua marginal rate of substitution
: Akua gains utility from consumption C and leisure L. The most leisure she can consume in any given week is 110 hours. Her utility function is U (C, L) = C × L
|