Luke sold a building and the land on which the building sits to his wholly owned corporation, Studemont Corp., at fair market value. The fair market value of the building was determined to be $380,000; Luke built the building several years ago at a cost of $357,500. Luke had claimed $81,000 of depreciation expense on the building. The fair market value of the land was determined to be $280,000 at the time of the sale; Luke purchased the land many years ago for $193,500. Luke's brother will use the building in his business. a. What is the amount and character of Luke's recognized gain or loss on the building?
b. What is the amount and character of Luke's recognized gain or loss on the land?

On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?

In 2018, laureen is currently single. she paid $2,800 of qualified tuition and related expenses for each of her twin daughters sheri and meri to attend state university as freshmen ($2,800 each for a total of $5,600). sheri and meri qualify as laureen’s dependents. laureen also paid $1,900 for her son ryan’s (also laureen’s dependent) tuition and related expenses to attend his junior year at state university. finally, laureen paid $1,200 for herself to attend seminars at a community college to her improve her job skills. what is the maximum amount of education credits laureen can claim for these expenditures in each of the following alternative scenarios? a. laureen's agi is $45,000.b. laureen’s agi is $95,000.c. laureen’s agi is $45,000 and laureen paid $12,000 (not $1,900) for ryan to attend graduate school (i. e, his fifth year, not his junior year).

Jaden has a degree in marketing. she would like to run her department. she is going back to school to get a degree in: a. web designer b. database administrator c. information security d. computer user support