In the current year, tim sells section 1245 property for $28,000 that he had purchased 6 years ago. tim has claimed $7,000 in depreciation on the property and originally purchased it for $20,000. how much of the gain is taxable as ordinary income?

technology is the application of knowledge and tools to solve problems and perform tasks more efficiently. t/f

Jillian wants to plan her finances because she wants to create and maintain her tax and credit history. she also wants to chart out all of her financial transactions for the past federal fiscal year. what duration should jillian consider to calculate her finances? from (march or january )to (december or april)?

Mr. pines is considering buying a house and renting it to students. the yearly operating costs are $1,900. the house can be sold for $175,000 at the end of 10 years and it is considered 18% to be a suitable annual effective interest rate. if the house costs $100,000 to purchase, how much would you need to charge your tenants each year in rent? (assume a single payment for the years rent at the end of each year)