Business
Business, 14.07.2019 23:30, bollipard1183

Acouple sold an investment property for a realized gain of $58,000. do they have to report this to the irs and if so, on what form?

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Business, 27.06.2019 10:00, parosil
Maria meets all of the requirements of § 1237 (subdivided realty). in 2016, she begins selling lots and sells four separate lots to four different purchasers. she also sells two contiguous lots to another purchaser. the sales price of each lot is $30,000. maria's basis for each lot is $15,000. selling expenses are $500 per lot.a. what are the realized and recognized gain? the realized gain is $ 87,000 and recognized gain is $ 87,000 . feedback congress has often expanded the § 1221 general definition of what is not a capital asset.b. what is the nature of the gain (i.e., ordinary income or capital gain)? the gain is considered a long-term capital gain.c. assume instead that the lots sold to the fifth purchaser were not contiguous. if the lots sold to the fifth purchaser were not contiguous, maria would have $ ? ? ordinary income, and the $ ? ? gain would be long-term capital gain.
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Business, 06.10.2019 08:00, alainacorkell6472
During the year, a company’s investment in debt securities increases in fair value, resulting in an unrealized gain on the investment. the investment is not sold by the end of the year. the company is considering whether to report the unrealized gain as a component of net income or as a component of other comprehensive income. under which reporting requirement would the company have a higher ending balance of total shareholders’ equity?
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Business, 02.11.2019 03:31, miahsmith258
Firm ml, a noncorporate taxpayer, exchanged residential rental property plus $17,200 cash for 20 acres of investment land with a $223,000 fmv. ml used the straight-line method to compute depreciation on the rental property. assuming that ml’s exchange was negotiated at arm’s length, what is the fmv of the rental property? if the adjusted basis of the rental property is $198,000, compute ml’s realized and recognized gain. compute ml’s basis in the 20 acres of investment land.
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Business, 02.11.2019 07:31, noor2005
1. brian brewster sold property to a buyer who paid him $400,000 cash and the buyer assumed brian’s existing mortgage of $150,000. the property had cost $250,000 and he had made improvements of $50,000. depreciation of $100,000 has been properly claimed and selling expenses were $20,000. what is the amount of gain realized? (a) $100,000(b) $200,000(c) $250,000(d) $280,000(e) $330,000
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