urance ertising expense tgage interest perty taxes airs & maintenance lities reciation $ 1,000 see 3,500 900 650 950 8,500 g the year, Tamar rented out the condo for 75 days, receiving $10,000 of gross income. She personally used the ca during her vacation. Tamar's itemized deduction for nonrental taxes is less than $10,000 by more than the property ated to the rental use of the property. me Tamar uses the Tax Court method of allocating expenses to rental use of the property. Assume 365 days in the Do not round apportionment ratio. Round all other dollar values to the nearest whole dollar amount. irod

A taxpayer acquires office equipment for $10,000. Which one of the following choices is not an acceptable cost recovery period under either MACRS (regular or alternate) or ADS? O Straight-line for 7 years O straight-line for 10 years O 150% declining balance for 7 years O 150% declining balance for 10 years

Amy financed the purchase of her living room suite over two years.  Her monthly payments are $231.02 and she is charged an interest rate of 19.6% compounded semiannually. What was the purchase price of Amy’s furniture? ____________ b.  How much is the cost of financing?  _____________

You have an HO policy with the following limits: A $75,000 (dwelling) B-$ 7,500 (other structures) C-$25,000 (personal property). A tornado strikes your property. You lose your house, which is worth $65,000 at the time of the loss. You also lose an unattached shed worth $8,000, and personal property worth $30,000. You will collect? (assume $0 deductible, ignore the ACV calculation and assume there is no fraud or other unusual circumstances surrounding the loss.) OA$107,500 OB. $97,500 OC.$103,000

Subject : Accounting

am. 117.

pare.23

Knowing the 14 day personal use on rental property rule, your client has the following days that she is concerned about. How many days personal use do you calculate? 10 days of vacation at the rental property for her and her spouse 9 days of her and her spouse working on the property to make repairs. Her brother used the property for 7 days (but paid full rental to the rental company) Her sister used the property for 4 days but deadbeat her on the rent she rented to strangers for 140 days a. 10 days O b. 14 days O c. 23 days d. 17 days O e. 26 days O f. 21 days g. 30 days Oh. 19 days

Patty, Inc purchases equipment for $52670. The equipment will be depreciated over 8 years with no residual value. Patty's annual cash flow for the year will be $69730. Patty's annual net income will be $

Hello. I'm stuck on this problem please help.