Rosa contributes $50,000 to a business entity in exchange for a10% ownership interest. Rosa materially participates in the entity. The business entity incurs a loss of $900,000 for the current taxyear and holds liabilities at the end of the year of $700,000. Ofthis amount, $150,000 is recourse debt and $550,000 is nonrecoursedebt.

If an amount is zero, enter "0".

a. Assume that the business entity is apartnership.

How much of the entity loss can Rosa deduct on her the currenttax year income tax return?
$

What is her basis for the partnership interest at the end of thecurrent tax year?
$

b. Assume that the business entity is a Ccorporation.

How much of the entity loss can Rosa deduct on her the currenttax year income tax return?
$

What is her basis for the stock at the end of the current taxyear?
$

What is one of the best ways to determine what kind of business you'll enjoy

Laurelton heating & cooling installs and services commercial heating and cooling systems. laurelton uses job costing to calculate the cost of its jobs. overhead is allocated to each job based on the number of direct labor hours spent on that job. at the beginning of the current year, laurelton estimated that its overhead for the coming year would be $ 61 comma 500. it also anticipated using 4 comma 100 direct labor hours for the year. in april comma laurelton started and completed the following two jobs: (click the icon to view the jobs.) laurelton paid a $ 20-per-hour wage rate to the employees who worked on these two jobs. read the requirements requirement 1. what is laurelton's predetermined overhead rate based on direct labor hours? determine the formula to calculate laurelton's predetermined overhead rate based on direct labor hours, then calculate the rate. / = predetermined overhead rate

10.     lucy is catering an important luncheon and wants to make sure her bisque has the perfect consistency. for her bisque to turn out right, it should have the consistency of a. cold heavy cream. b. warm milk. c. foie gras. d. thick oatmeal. student d   incorrect