which of the following is passive income
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A: There are many methods to raise funds directly, including issuing shares and debentures.
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A: Following is the correct option with explanation.
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which of the following is passive income
income from real estate ventures for a non -real estate professional
winning from gambling
state and local refunds
Answer:
Winning from gambling
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Solved in 2 steps
- Discuss the circumstances when an investor can use section 1031 of the Internal Revenue Code (IRC) for like-kind of real estate exchanges to defer taxes when making a sale or disposal of property.Which of the following may be ordinary income? Salary Government pension Lottery winnings Rent from an investment property a. 1, 2, and 4 only b. 1 only c. 1 and 2 only d. 1, 2, 3, and 4From a tax planning standpoint, who should invest in tax-exempt bonds, the trusts or its beneficiaries?
- Refer to the previous problem, the capital gains tax if the proceeds of sale was utilized in acquiring new residence.The profits from the sale of listed real estate investment trust ( REIT) shares are typically taxed ?Which of the following IS NOT true about the Texas mortgage system? A. The mortgagor is the borrower and the mortgagee is the lender. B. A third-party Trustee is used. C. Texas is a lien theory state. D. All of the answers are true. E. The lender holds the title to the property until the loan is paid in full.
- Which are the National Association of Real Estate Investment Trusts (NAREIT) classifies three typical types of private REITs?Comment on the following items relative to tax planning strategies of a fiduciary entity. A. To reduce taxes for a typical family, should income be shifted to a trust or from a trust? Why? B. To reduce overall taxes, should a high-income, wealthy beneficiary be assigned to the first or second tier of trust distributions? Why?Select the best answer. Which of the following statements regarding transfers of property or services is true? For a transfer of property to a corporation, no gain is recognized by the taxpayer if the O A. transferred property is encumbered with liabilities in excess of the taxpayer's basis in the property. O O O If receipt of stock is subject to a substantial risk of forfeiture, income is recognized by th B. recipient in the year the stock is received even though the substantial risk of forfeiture h lapsed. If the contributing partner receives a capital interest in the partnership upon contributi C. services, the contributor will be taxed on the transfer when the contributor actually rec profits. In order for an exchange of services to a partnership for a profit interest to qualify as a D. nontaxable event, the service partner must provide services to the partnership or for it benefit, and the services must be provided by the service partner in his capacity as a p Submit Answers
- Ordinarily in a condominium corporation, each tenants/owners make some constructions or improvements in their units. But before the construction, owners or tenants should pay constructions bonds. These bonds may be refunded if the construction are in accordance with the management guidelines. Question: Are bonds considered liabilities? Why or why not?Which of the following transactions qualify as like-kind exchanges? You must support your answer for each item below. a) Bonds exchanged for an office building b) A factory for an office building c) Undeveloped land for an office buildingQuestion: (a) What is a Capital Recovery Amount Factor (b) Write a detailed note on Minimum Attractive Rate of Return. (c) "Land" is not considered as a depreciable property. WHY? (d) Differentiate between income tax and sales tax. Explain both of these types with the help of examples. ww aN
