This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A limited partner loses his limited liability when she becomes a contractor for the limited ... (Read 63 times)

rayancarla1

  • Hero Member
  • *****
  • Posts: 571
on: Jun 24, 2018
A limited partner loses his limited liability when she becomes a contractor for the limited partnership, or the general partner.
  Indicate whether the statement is true or false

Question 2

Anna and Bob bought their home for 250,000 in 2001. Since moving in they have completed the following: Pool 25,000 Security System  6,000 Landscape  4,000 Drapes 15,000 Their 2001 loan was at 10 and interest rates are now at 7. Their home is now worth 400,000. Their lender will refinance 320,000 (80 of market value). How much can Anna and Bob refinance and still deduct all interest on their income tax?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

b614102004

  • Sr. Member
  • ****
  • Posts: 320
Reply #1 on: Jun 24, 2018
Answer to Question 1

FALSE

Answer to Question 2

250,000
25,000

6,000

4,000

15,000

300,000 - original cost plus improvements


rayancarla1

  • Member
  • Posts: 571
Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

JaynaD87

  • Member
  • Posts: 368
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Stroke kills people from all ethnic backgrounds, but the people at highest risk for fatal strokes are: black men, black women, Asian men, white men, and white women.

Succession in the intertidal zone involves colonization and competition for limited space among spec Succession in the intertidal zone involves colonization and competition for limited space among spec
Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a Hong Kong is a strange situation. A British colony since 1842, it was handed back to China in 1997 a
Grace Service, a YMCA missionary, explained that these porters worked at the base of Mount Omei in S Grace Service, a YMCA missionary, explained that these porters worked at the base of Mount Omei in S
Sample Exercise Program for Limited Older Adults (cont.) Sample Exercise Program for Limited Older Adults (cont.)
Reaction limited by substrate concentration Reaction limited by substrate concentration
Needle-nose pliers are used where there is limited access to a wire or pin that needs to be ... Needle-nose pliers are used where there is limited access to a wire or pin that needs to be ...
Video: Cardiac conductile cells

For a complete list of videos, visit our video library