Michael sold his house for $330,000 and had $33,000 in closing costs. His beginning basis was $187,000 and he spent $68,000 on capital improvements. What is Michael's capital gain for tax purposes? (assume he doesn't qualify for an exclusion)

Michael's capital gain for tax purposes is $42,000.

Explanation:

Given:

Michael sold his house for $330,000 and had $33,000 in closing costs. His beginning basis was $187,000 and he spent $68,000 on capital improvements.

Now, to find the Michael's capital gain for tax purposes.

Sale price of house = $330,000.

Closing costs = $33,000.

Beginning basis = $187,000.

Capital improvements = $68,000.

Now, to get the Michael's capital gain for tax purposes subtract the closing costs, beginning basis and capital improvements from the sale price of house:

Therefore, Michael's capital gain for tax purposes is $42,000.

in 2001, dell computer became the world’s largest personal computer vendor, continuing to

gain market share and post profits in an industry struggling with slumping sales and billions of

dollars in losses. dell sells 90% of its pcs directly to the final customer, largely bypassing the

reseller channel that accounts for most of the world’s pc sales. this direct customer relationship

is the key to dell’s business model, and provides distinct advantages over the indirect sales

model. dell’s direct relationship with the customer allows it to tailor its offerings to customer

needs, offer add-on products and services, and use the internet to offer a variety of customer

services. in addition, dell’s pcs are built to customers’ specifications upon receipt of an order,

giving dell additional advantages over indirect pc vendors who must try to forecast demand and

ship products based on those forecasts. dell’s direct sales and build-to-order model has achieved

superior performance in the pc industry in terms of inventory turnover, reduced overhead, cash

conversion, and return on investment (kraemer, et al., 2000).

explanation:

answer; niosh, the national institute for occupational safety and health;