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 135 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
Excellent

recede

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

Autoimmune diseases occur when the immune system destroys its own healthy tissues. When this occurs, white blood cells cannot distinguish between pathogens and normal cells.

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

Did you know?

For about 100 years, scientists thought that peptic ulcers were caused by stress, spicy food, and alcohol. Later, researchers added stomach acid to the list of causes and began treating ulcers with antacids. Now it is known that peptic ulcers are predominantly caused by Helicobacter pylori, a spiral-shaped bacterium that normally exist in the stomach.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

An individual's performance can be limited by environmental conditions, such as temperature. Ac An individual's performance can be limited by environmental conditions, such as temperature. Ac
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
The power and control wheel illustrates the strategies that one partner may use to intimidate, ... The power and control wheel illustrates the strategies that one partner may use to intimidate, ...
Two stubby screwdrivers used to access screws that have limited space above. A straight blade is on ... Two stubby screwdrivers used to access screws that have limited space above. A straight blade is on ...
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 ...
Sam and Jen had a tax liability of 5,115 last year. They were entitled to tax credits of 112 ... Sam and Jen had a tax liability of 5,115 last year. They were entitled to tax credits of 112 ...
Video: Component of feedback systems & Communication and regulation of body systems

For a complete list of videos, visit our video library