Business, 26.11.2019 00:31, maggie3541
On september 18, 2016, gerald received land and a building from frank as a gift. frank’s adjusted basis and the fair market value at the date of the gift are as follows: asset adjusted basis fmv land $100,000 $212,000 building $80,000 $100,000 no gift tax was paid on the transfer.
a. determine gerald’s adjusted basis for the land and building.
b. assume instead that the fair market value of the land was $87,000 and that of the building was $65,000. determine gerald’s adjusted basis for the land and building.
Answers: 3
Business, 22.06.2019 19:20, needhelp243435
This problem has been solved! see the answerwhich of the following statements is correct? the consumer price index is a measure of the overall level of prices, whereas the gdp deflator is not a measure of the overall level of prices. if, in the year 2011, the consumer price index has a value of 123.50, then the inflation rate for 2011 must be 23.50 percent. compared to the gdp deflator, the consumer price index is the more common gauge of inflation. the consumer price index and the gdp deflator reflect the goods and services bought by consumers equally well.
Answers: 2
Business, 22.06.2019 21:30, lee1677
Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.
Answers: 1
On september 18, 2016, gerald received land and a building from frank as a gift. frank’s adjusted ba...
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