subject
Business, 10.03.2020 07:40 DESTROYERMODE2308

Gina loaned Tom $50,000. Tom signed a note the terms of which called for monthly payments of $2,000 plus 6% interest on the outstanding balance. In 2018, when the balance owing on the loan was $18,000, Tom defaulted on the note. As of the end of 2018, there appeared to be no reasonable prospect of Gina recovering the $18,000. As a consequence, Gina claimed the $18,000 as a nonbusiness bad debt. In 2018, Gina had AGI of $50,000, which included $16,000 of net long-term capital gains. Gina did not itemize her deductions. In 2019, Tom paid Gina $13,000 in final settlement of the loan. How should Gina account for the payment in 2019

ansver
Answers: 2

Other questions on the subject: Business

image
Business, 21.06.2019 18:30, emblemhacks
As the marginal propensity to consume (mpc) increases, the multiplier remains the same. increases. decreases. as the marginal propensity to save (mps) increases, the multiplier decreases. increases. remains the same. if the marginal propensity to consume is 0.30, what is the multiplier, assuming there are no taxes or imports? round to the tenths place. given the multiplier that you calculated, by how much will gross domestic product (gdp) increase when there is a $1,000 increase in government spending? $
Answers: 3
image
Business, 21.06.2019 23:10, angellove1707
You are the new chief information officer for the video-game developer, necturus games. the company has recently undergone a major expansion of its primary product, and you must staff up the is department and determine the best way to develop new game "capsules" for the game, "escape velocity."
Answers: 1
image
Business, 22.06.2019 16:40, yovann
Consider two similar industries, portal crane manufacturing (pcm) and forklift manufacturing (flm). the pcm industry has exactly three incumbents with annual sales of $800 million, $200 million and $100 million, respectively. the flm industry has also exactly three incumbents, with annual sales of $500 million, $450 million and $400 million, respectively. which industry is more likely to experience a higher level of rivalry?
Answers: 3
image
Business, 22.06.2019 19:50, ParallelUniverse
Our uncle has $300,000 invested at 7.5%, and he now wants to retire. he wants to withdraw $35,000 at the end of each year, starting at the end of this year. he also wants to have $25,000 left to give you when he ceases to withdraw funds from the account. for how many years can he make the $35,000 withdrawals and still have $25,000 left in the end? a. 14.21b. 14.96c. 15.71d. 16.49e. 17.32
Answers: 1
You know the right answer?
Gina loaned Tom $50,000. Tom signed a note the terms of which called for monthly payments of $2,000...

Questions in other subjects:

Konu
Mathematics, 16.11.2020 22:30
Konu
History, 16.11.2020 22:30