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epicness5815
12.11.2019 •
Business
In 2019, theo, a single taxpayer, operates a sole proprietorship in which he materially participates. his proprietorship generates gross income of $320,000 and deductions of $600,000, resulting is a loss of $280,000. the large deductions are due to the acquisition of equipment and the use of immediate expense and additional first-year depreciation to deduct all of the acquisitions. what is theo's excess business loss for the year?
a.$25,000.
b.$250,000.
c.$280,000
d.$-0-.
e.none of these choices are correct.
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Ответ:
e. None of these choices are correct.
Explanation:
According to the business Excess loss defined by the IRS (International Revenue Services) as follows:
The aggregate deduction
(-) Gross income of the taxpayer
(-) Threshold amount ($250,000 for all the taxpayers except married person)
Total Excess business loss
Here,
Gross Income = $320,000; Deductions = $600,000;
Therefore,
The aggregate deduction $600,000
(-) Gross income of the taxpayer $(320,000)
(-) Threshold amount $(250,000)
Total Excess business loss $(30,000)
As the taxpayer is not married, he will get the benefit of threshold amount.
Therefore, Total Excess business loss $(30,000), and no option gives the correct answer.
Ответ:
strong primary manufacturing sector
but a weak secondary manufacturing
sector.