A Taxpayer exchanges business equipment with an adjusted basis of $12,000 for similar equipment worth $10,000 plus cash of $4,000. What is the recognized gain or loss and the basis of the new equipment? a. $0 and $12,000 b. $2,000 and $10,000 c. $2,000 and $8,000 d. $0 and $8,000

account answer wanted

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1. The following relates to taxpayer500,000 Interest expense200,000 interest income-promissory notesCompute the deductible expense   2. A taxpayer with net sales of P2,000,000 and cost of sales of P1,000,000 incurred P12,000 EAR expenses. Compute the allowable deduction for EAR expenses   3. The personal car of the taxpayer had the following data:5,000,000 Fair market value4,000,000 purchase price10 years estimated useful lifeWhat is the deductible annual depreciation expense?

Taxpayer has assets = $10,000 and liabilities = $15,000, determine if taxpayer is insolvent and to which extent B D insolvent by $5,000 insolvent by $10,000 insolvent by $15,000 totally insolvent; it doesn't matter how much ←

GRADUATED TAX TABLE UNDER TRAIN LAW (January 1, 2018 to December 31, 2022) Over But not over The Tax shall be Plus of Excess Over 250,000 250,000 400,000 20% 250,000 400,000 800,000 30,000 25% 400,000 800,000 2,000,000 130,000 30% 800,000 2,000,000 8,000,000 490,000 32% 2,000,000 8,000,000 2,410,000 35% 8,000,000

If a taxpayer has interest income of $5,500 and investment interest expenses of $6,000 in itemized deductions, what amount can the taxpayer deduct in investment interest expenses? *If zero, enter "0". 5500

Accounting where is the deductible?

A Schedule B needs to be attached to the form 1040 if a taxpayer. 1. received over $1,500 of taxable interest  2. received $ 1,000 of taxable interest  3. received $ 2,000 from selled-financed mortage.

A3 please help......