Rachel acquired a passive activity several years ago. Until 2016, the activity was profitable, and Rachel’s at-risk amount at the beginning of 2016 was $300,000. The activity produced losses of $80,000 in 2016, $50,000 in 2017, and $70,000 in 2018. In 2019, the activity produced income of $90,000. How much is Rachel’s suspended passive activity loss at the beginning of 2020? a. $150,000.
b. $110,000.
c. $60,000.
d. $0.
e. None of these.

land, a building and equipment are acquired for a lump sum of $ 1,000,000. the market values of the land, building and equipment are $ 300,000, $ 800,000 and $ 300,000, respectively. what is the cost assigned to the equipment? (do not round any intermediary calculations, and round your final answer to the nearest dollar.)

How many months does the federal budget usually take to prepare

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."