This topic contains a solution. Click here to go to the answer

Author Question: For the years 2012 through 2016 (inclusive) Mary, a best-selling author, has been involved in ... (Read 68 times)

mp14

  • Hero Member
  • *****
  • Posts: 534

Question 1

Erin, Sarah, and Timmy are equal partners in EST Partnership. Sarah also owns 40% of Elton Corporation. The remaining shareholders of Elton Corporation are:  Erin (24%) and Sarah's uncle (36%). What percent ownership does Sarah directly or constructively own in Elton Corporation?
◦ 40%
◦ 64%
◦ 76%
◦ 100%

Question 2

For the years 2012 through 2016 (inclusive) Mary, a best-selling author, has been involved in operating an antique store.  In 2012, 2013 and 2014 her revenue exceeded the expenses from the activity.  In 2015 and 2016, the antique store generated a loss.  Which statement is correct?
◦ The activity is a business. The IRS cannot prove it is a hobby.
◦ The activity is a hobby. Mary cannot prove it is a business.
◦ The activity is presumed to be a business. However, the IRS may prove it is a hobby.
◦ The activity is presumed to be a hobby. However, Mary may prove it is a business.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by mp14 on Sep 13, 2020

zogaridan

  • Sr. Member
  • ****
  • Posts: 328
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 49% of students answer this correctly




mp14

  • Member
  • Posts: 534
Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)


xiazhe

  • Member
  • Posts: 331
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

Your heart beats over 36 million times a year.

Did you know?

The Babylonians wrote numbers in a system that used 60 as the base value rather than the number 10. They did not have a symbol for "zero."

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.

For a complete list of videos, visit our video library