Ed owned and used his home in Kentucky as his principal residence for 15 years. He moved to another state in the 16th year and rented the Kentucky home. Two years later he sold the Kentucky home. Ed's brother, Fred, had two houses. Fred owned and used his home in Tennessee as his principal residence for 10 years. He had another home in Florida. In the 11th year, he moved into his Florida home. He resided there for 3 years and then sold the Florida home. Which brothers has "nonqualified use" of his principal residence that will reduce the exclusion on the gain on a sale of a personal residence?
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Ed owned and used his home in Kentucky as his principal residence for 15 years. He moved to another state in the 16th year and rented the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Harlan Enterprises manufactures smart phones. Currently, Harlan has $14,000 in raw materials and $25,000 in finished goods in its warehouse. It also has $18,600 in work-in-process goods on its assembly line.
Answers (1)
Match the following three types of decision making with their corresponding attributes. A. Deliberate, rational, sequential B. Emotional, instantaneous C. Behavioral, unconscious, automatic 1. Affective 2. Cognitive 3. Habitual
Answers (1)
A. the government often uses excise taxes, called "sin taxes," to manipulate consumption of cigarettes. draw and label the shift from a tax.
Answers (1)
Indirect price discrimination differs from direct price discrimination because a. There is no difference between the two b. In indirect price discrimination high value consumers can sometimes still get the low price c.
Answers (2)
Customers' willingness to replace a costly item with a less costly item is an example of ...
Answers (1)
New Questions in Business
The culture of UPS places service to the customer among the company's highest business objectives, which is reflected in their use of information systems to enable customer tracking of their packages.
Answers (1)
Employers bond employees who handle cash receipts because fidelity bonds reduce the possibility of employing dishonest individuals and Deter dishonesty by making employees aware that insurance companies may investigate and prosecute dishonest acts.
Answers (1)
1. A complaint of sexual harassment by a part-time worker in a hardware business was upheld when the Tribunal found that the employer had failed to take sufficient action in relation to the employee's report of inappropriate behaviour.
Answers (1)
Suppose that the government sets a price floor for milk that is above the competitive equilibrium price With the price floor, consumers are willing to purchase the quantity indicated where the price floor intersects the With the price floor, the
Answers (1)
Choose the best revision of the previous sentence. Because many executives have access to company jets boards of directors have a responsibility to ensure that shareholders are not footing the bill for personal travel.
Answers (1)