Tan, Inc., sold a forklift on April 12, 2020, for $8,000 (its FMV) to its 100% shareholder, Ashley. Tan's adjusted basis for the forklift was $12,000. Ashley's holding period for the forklift:

c. Begins on April 13, 2019

Explanation:

Options include "a. Includes Tan's holding period for the forklift. b. Begins on April 12, 2019. c. Begins on April 13, 2019. d. Does not begin until Ashley sells the forklift e. None of these. "

- Whenever a loss is being disallowed in party transaction, the norms is that there is no carryover of holding period.

- Tan has a $4,000 ($12,000 - $8,000) realized loss on the sale of the forklift to Ashley and the loss is disallowed because Ashley is a related taxpayer.

- Ashley’s holding period begins on the day after the property is acquired which is on April 13, 2019

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.

answer(b) revenue account which increases;