Business, 21.10.2020 17:01 vixxs345

Brandon and Jane Forte file a joint tax return and decide to itemize their deductions. The Fortes' income for the year consists of $119,000 in salary, $500 interest income, $1,000 nonqualifying dividends, and $500 long-term capital gains. The Fortes' expenses for the year consist of $2,500 in investment interest expense and $800 in tax preparation fees. Assuming that the Fortes' marginal tax rate is 32 percent and they make no special elections, what is the amount of investment interest expense deduction for the year

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 21:00

Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. long-run economic growth is unlikely to be sustainable because of finite natural resources. in the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. finding alternatives to natural resources will be very important to long-term economic growth. in the modern economy, human and physical capital are generally less important in productivity than natural resources. in the 19th century, countries with the highest per capita gdp were nearly always abundant in minerals and productive farming land.

Answers: 1

Answer

Business, 23.06.2019 00:10

The food services division of cedar river amusement park inc. is studying the amount families who visit the amusement park spend per day on food and drink. a sample of 40 families who visited the park yesterday revealed they spent the following amounts: see worksheet 1 for data and answer the following questions: a. organize the data into a frequency distribution, using seven classes and 15 as the lower limit of the first class. what class interval did you select? b. what percent of families spent less than $45? c. what percent of families spent $55 or more? d. how many families spent from $65 to 74.99?

Answers: 3

Answer

Business, 23.06.2019 01:00

Gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $2,000 uncollectible account of its customer, a. hopkins. on july 10, gideon received a check for the full amount of $2,000 from hopkins. on july 10, the entry or entries gideon makes to record the recovery of the bad debt is

Answers: 1

Answer

Business, 23.06.2019 02:30

Driving would be more pleasant if we didn't have to put up with the bad habits of other drivers. a newspaper reported the results of a valvoline oil company survey of 500 drivers in which the drivers marked their complaints about other drivers. the top complaints turned out to be tailgating, marked by 24% of the respondents; not using turn signals, marked by 19%; being cut off, marked by 15%; other drivers driving too slowly, marked by 12%; and other drivers being inconsiderate marked by 5%.

Answers: 1

Answer

You know the right answer?

Brandon and Jane Forte file a joint tax return and decide to itemize their deductions. The Fortes' i...

Questions