Tobias is a 50% partner in Solomon LLC, which does not invest in real estate. On January 1, 2016, Tobias’s adjusted basis for his LLC interest is $130,000, and his at-risk amount is $105,000. His share of losses from Solomon for 2016 is $150,000, all of which is passive. He has another investment that produced $90,000 of passive income during 2016. (Assume there were no distributions or changes in liabilities during the year.)

How much of Solomon’s losses may Tobias deduct in 2016 on his Form 1040? How much of the loss is suspended and what Code provisions cause the suspensions?

Applicable Provision Deductible Loss Suspended Loss
§ 704(d) Overall limitation $130,000 $
§ 465 At-risk limitation $105,000 $
§ 469 Passive loss limitation $90,000 $

Your uncle is considering investing in a new company that will produce high quality stereo speakers. the sales price would be set at 1.5 times the variable cost per unit; the variable cost per unit is estimated to be $75.00; and fixed costs are estimated at $1,200,000. what sales volume would be required to break even, i. e., to have ebit = zero?

Rachel died in 2014 and her executor is finalizing her estate tax return. the executor has determined that rachel’s adjusted gross estate is $10,120,000 and that her estate is entitled to a charitable deduction in the amount of $500,000. using 2014 rates, calculate the estate tax liability for rachel’s estate.

1. which of the following is true about how your skill set relates to a future career? (1 point) employers like to hire people with only full-time job experience. employers consider subject-specific skills for new positions. skills learned in high school should not be included. skills from part-time jobs and volunteer work may prove beneficial in future jobs. 2. which of the following is a list of broad categories of skills? (1 point) creativity, art and communications, tools and trade, literacy and language, and interpersonal skills english and literacy, tools and trade, mathematics, and creativity interpersonal skills, intrapersonal skills, writing and literacy, tools and trade, and creativity mathematics and data, words and literacy, tools and tasks, interpersonal relationships, and creativity