The following gains and losses pertain to Jimmy’s business a…

The following gains and losses pertain to Jimmy’s business assets that qualify as Sec. 1231 property. Jimmy does not have any nonrecaptured net Sec. 1231 losses from previous years, and the portion of gain recaptured as ordinary income due to the depreciation recapture provisions has been eliminated.Describe the specific tax treatment of each of these transactions.

Indicate with a “yes” or a “no” which of the following are l…

Indicate with a “yes” or a “no” which of the following are like-kind exchanges.a.Desktop computer used in trade or business for a laptop computer used in trade or business.b.Apartment building held as an investment for an office building used in trade or business.c.Land used in trade or business for equipment used in trade or business.d.Land used in a taxpayer’s trade or business for land used for taxpayer’s family vacation property.e.Exchange of improved real estate held for investment for unimproved real estate held for investment.

Jest czwartek [po] południu. Studenci skończyli zajęcia [na1…

Jest czwartek [po] południu. Studenci skończyli zajęcia [na1] uniwersytecie. Myślą co mogą zrobić [w1] wolnym czasie. [W] grudniu pogoda jest brzydka i nikt nie ma ochoty [na2] spacer. Ania proponuje wyjście [na3] miasto, nie chce być [w2] domu, woli być [w3] kinie. Nie wie na co mogą pójść, ale sprawdza program [w4] Internecie. [Na] liście jest wiele filmów. Trzeba podjąć decyzję.