Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Moran owns a building

16/12/2020 Client: saad24vbs Deadline: 2 Day

In year 0, Longworth Partnership purchased a machine for $56,000 to use in its business. In year 3, Longworth sold the machine for $36,700. Between the date of the purchase and the date of the sale, Longworth depreciated the machine by $29,800. (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)


a. What is the amount and character of the gain or loss Longworth will recognize on the sale?


Description Amount


Total Gain/(Loss) Recognized


Character of Recognized Gain (Loss)


Ordinary Gain/(Loss)


1231 Gain/Loss


B. What is the amount and character of the gain or loss Longworth will recognize on the sale if the sale proceeds are increased to $61,250?


Description Amount


Total Gain/(Loss) Recognized


Character of Recognized Gain (Loss)


Ordinary Gain/(Loss)


1231 Gain/Loss


c. What is the amount and character of the gain or loss Longworth will recognize on the sale if the sale proceeds are decreased to $18,300 (before the §1231 netting process, if applicable)?


Description Amount


Total Gain/(Loss) Recognized


Character of Recognized Gain (Loss)


Ordinary Gain/(Loss)


1231 Gain/Loss


Moran owns a building he bought during year 0 for $195,000. He sold the building in year 6. During the time he held the building he depreciated it by $52,250.


What is the amount and character of the gain or loss Moran will recognize on the sale in each of the following alternative situations? (Loss amounts should be indicated by a minus sign. Enter NA if a situation is not applicable. Leave no answer blank. Enter zero if applicable.)


a. Moran received $166,000


Description Amount


Total Gain/(Loss) Recognized


Ordinary Income or Unrecaptured


Remaining 1231 gain or (loss)


b. Moran received $212,000


Description Amount


Total Gain/(Loss) Recognized


Ordinary Income or Unrecaptured


Remaining 1231 gain or (loss)


c. Moran received $131,500


Description Amount


Total Gain/(Loss) Recognized


Ordinary Income or Unrecaptured


Remaining 1231 gain or (loss)


Aruna, a sole proprietor, wants to sell two assets that she no longer needs for her business. Both assets qualify as §1231 assets. The first is machinery and will generate a $23,250 §1231 loss on the sale. The second is land that will generate a $14,500 §1231 gain on the sale. Aruna’s ordinary marginal tax rate is 32 percent. (Input all amounts as positive values.)


a. Assuming she sells both assets in December of year 1 (the current year), what effect will the sales have on Aruna’s tax liability?


Aruna’s tax will___________ by______________


b. Assuming that Aruna sells the land in December of year 1 and the machinery in January of year 2, what effect will the sales have on Aruna’s tax liability for each year?


Aruna’s tax______________ in year 1 by__________-


Aruna’s tax______________ in year 2 by ____________


Kase, an individual, purchased some property in Potomac, Maryland, for $242,000 approximately 10 years ago. Kase is approached by a real estate agent representing a client who would like to exchange a parcel of land in North Carolina for Kase’s Maryland property. Kase agrees to the exchange. What is Kase’s realized gain or loss, recognized gain or loss, and basis in the North Carolina property in each of the following alternative scenarios? (Loss amounts should be indicated by a minus sign. Leave no answer blank. Enter zero if applicable.)


a. The transaction qualifies as a like-kind exchange and the fair market value of each property is $715,000.


 Description Amount


Realized gain/(Loss)


Recognized gain/(Loss)


Adjusted basis in new property

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

University Coursework Help
Top Essay Tutor
Calculation Guru
Writer Writer Name Offer Chat
University Coursework Help

ONLINE

University Coursework Help

Hi dear, I am ready to do your homework in a reasonable price.

$112 Chat With Writer
Top Essay Tutor

ONLINE

Top Essay Tutor

I have more than 12 years of experience in managing online classes, exams, and quizzes on different websites like; Connect, McGraw-Hill, and Blackboard. I always provide a guarantee to my clients for their grades.

$115 Chat With Writer
Calculation Guru

ONLINE

Calculation Guru

I see that your standard of work is to get content for articles. Well, you are in the right place because I am a professional content writer holding a PhD. in English, as well as having immense experience in writing articles for a vast variety of niches and category such as newest trends, health issues, entertainment, technology, etc and I will make sure your article has all the key pointers and relevant information, Pros, Cons and basically all the information that a perfect article needs with good research. Your article is guaranteed to be appealing, attractive, engaging, original and passed through Copyscape for the audience so once they start reading they keep asking for more and stay interested.

$105 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

History of clothing in india ppt - Rogerian speech discussion - Industrial rubber products v gillon - Sample brd document for it project - Symbol for activation energy - Rocky bay medication training - Lab 5 how enzymes function answers - Chemical kinetics iodine clock reaction lab answers - A bank's decision to give a customer a mortgage is an example of an unstructured decision. - Cambridge teacher knowledge test - Morriston hospital consultants list - Gestra disco check valve - Week 3 reflective journal personal learning strategies - Oberon american repertory theater events - Why does st louis have colder winters than norfolk - As nzs 4777.1 2016 free - Master of teaching charles darwin university - Autocad 2015 3d tutorial - Effective Speaking Discussion - Words their way poems - 10 95 police code - Early houses of refuge were run using a - Organ leader & Decision making - Iwms spoken english syllabus - Cadbury eyebrow ad now - Essay Questions - Time of setting of hydraulic cement by vicat needle experiment - Computer bits and bytes chart - Hard candy fitness membership fees - Jetson tk1 development kit - Integers and absolute value powerpoint - Content writing - Bugge v brown 1919 - Ford firestone crisis management - Paduru party dress code - Once on this island monologue - Harvard simulation answers - Refugee mother and child analysis - Sun pharma investor relations - Public relations lecture notes - Virus life cycle worksheet - Edld 5311 fundamentals of leadership - Loanable funds graph expansionary fiscal policy - Reserve bank of australia museum - Circumcision power point - Disputed moral issues 3rd edition pdf - M4 screw hole size - My kbs elearning - Potential evapotranspiration potet refers to - A spring has a natural length of cm - Mantis shrimp vs blue ringed octopus - Data Warehousing Failures Report - Product of x and y - Cooling curve lab report - Asc 350 40 pwc - ORGANIZATIONAL CONFLICT PAPER - Meiosis 1 worksheet answers - Harold davinier south africa - Money smart gov au - Cocurrent and countercurrent flow heat exchanger - Experiment 6 freezing points graphing of data - Case study discussion - Job based pay vs person based pay - Theories hold that many ordinary people have access to power - Application of mohr's circle in engineering - Horrid henry pe teacher - Stressed syllable dictionary online - Homework c9 2 recall 1 - St george car finance statement - Intrathecal chemotherapy icd 10 pcs - Week 6 discussion - Mayray govinda mantra meaning - Martha rogers theory applied to nursing practice - What best describes the rightness or wrongness of plagiarism - Applied chemistry course outline - Sculpting Success: Portfolio Management Assignment Writer Extraordinaire - Edwin lemert described primary deviance as - Annie's growing organically - Ap chemistry equilibrium worksheet - Small Group Communication - Petbarn narre warren grooming - I need 2500 words on Television Affects - Shadow health cough danny rivera - Discussion post - John maxwell five levels of leadership - Continuum buying agency pvt ltd - Phet circuit construction kit lab - Auto tee up machine - Application of newton raphson method in chemical engineering - How do you calculate the case mix index - How to write a scope - A case of pharyngitis case study answers - Written-off vehicle inspection qld - Deborah tannen talking from 9 to 5 pdf - "A" WORK DISCUSSION IN 18 HOURS - Victim facilitation theory - Ati active learning template basic concept management of care - Problem solving methodology computing - Nco strategy 2020 - Reading summary