Martha bought a home in 1988 at a cost of $100,000.00. She put 20% down and financed the remainder by way of a mortgage. She paid the mortgage off in 20 years. Over the years, she spent $45,000 improving and updating the house. Martha sold her home last year for $310,000.00 What was the value of Martha's equity in her home?

Several years ago, Junior acquired a home that he vacationed in part of the time and rented out part of the time. During the current year, Junior: Personally stayed in the home for 22 days. Rented it to his favorite brother at a discount for 10 days. Rented it to his least-favorite brother for 8 days at the full market rate. Rented it to his friend at a discounted rate for 4 days. Rented the home to third parties for 58 days at the market rate. Did repair and maintenance work on the home for 2 days. Marketed the property and made it available for rent for 150 days during the year (but did not rent it out). How many days of personal use and how many days of rental use did Junior experience on the property during the year? Days of personal use:  Days of rental use:

Soo Young purchased a new home for $510,000. At the same time, he sold a home for $495,000 in which he had a net equity of $304,000 after paying off the existing mortgage of $191,000. He used $224,300 that equity as a down payment on the new home while borrowing the rest with a new mortgage. He used $50,000 of the net equityto buy a new SUV. The closing costs on the sale of his old home were $29,700 and were subtracted from the net equity. What is the immediate impact of this transaction on Soo Young's net worth? a. His net worth decreases by $29,700. b. His net worth decreases by $94,700. c. His net worth increases by $15,000. d. His net worth increases by $20,300. e. His net worth remains the same.

Sheila’s mother purchased 100 shares of Apple stock in 1992. The original sale price was $26 per share for a total value of $2,600. She kept those 100 stocks until her death in June 2022. By the time of her death, the Apple stock value is $190 per share for a total value of $19,000. Sheila will not owe taxes for capital gains on the $16,400 increase in value. Why do you think the gains and losses should be separated from sheila's other gains and losses?