User Account

All Pages

What is miguels charitable deduction for 2018

Assignment Help Financial Management
Reference no: EM132319534

Question

Miguel filed an extension for his 2018 tax return. His adjusted gross income in 2018 is $500,000. On December 31, 2018 he donated his Apple stock to his favorite charity. He originally purchased the stock for $50,000 in 2010. The fair market value of the stock at the date he donated it was $1.2 million.

How much must Miguel report as a capital gain in 2018? What is Miguel's charitable deduction for 2018? Explain your answer.

Reference no: EM132319534

Questions Cloud

Capital gain tax regarding historical sculpture : Discuss Barbaras income under the case scenario - Discuss the effect of these arrangement on the assessable income of Patrick
Explain the derivation of the short-run supply curve : Explain the derivation of the Short-Run Supply Curve for a firm in perfect competition.
What is an inflationary gap : 1. What is an inflationary gap? What causes it? What is the Keynesian policy prescription for addressing it?
How you would ethically share data with families : Teachers are constantly collecting data. Sharing this data with families can be done in a variety of ways. Research and share at least two strategies.
What is miguels charitable deduction for 2018 : How much must Miguel report as a capital gain in 2018? What is Miguel's charitable deduction for 2018? Explain your answer.
How would home and school partnerships facilitate learning : What are some cultural factors that might affect English language learning for native English speakers as well as those students for whom English is an addition
View the purpose of a negotiation : Negotiators from different cultures may tend to view the purpose of a negotiation differently. For dealmakers from some cultures, the goal of business
Estimate the amount of interest they can deduct : All the borrowed money will not be used immediately, they deposited the funds in a bank CD and anticipate earning $500,000 in interest income.
Negotiation process in many ways : Culture can influence the negotiation process in many ways, interpretation, language, willingness to compromise.

Reviews

Write a Review

Financial Management Questions & Answers

  What will be the firms cash cycle

Suppose that LilyMac Photography has annual sales of $240,000, cost of goods sold of $175,000, average inventories of $5,500, average accounts receivable of $27,000, and an average accounts payable balance of $18,200. Assuming that all of LilyMac’s s..

  Addition to retained earnings

California Retailing Inc. has sales of $4,000,000; the firm's cost of goods sold is $2,500,000; and its total operating expenses are $600,000. The firm's interest expense is $250,000, and the corporate tax rate is 40%. The firm paid dividends to pref..

  What is the payback on the computer package

What is the payback on the computer package?

  Changes in the market price of outstanding bonds

There is an inverse relationship between interest rate changes and changes in the market price of outstanding bonds.

  What is taxable equivalent yield on municipal bond

What's the taxable equivalent yield on a municipal bond with a yield to maturity of 4.8 percent for an investor in the 33 percent marginal tax bracket?

  Agricultural products for burgeoning asian consumer market

Rotorua Products, Ltd., of New Zealand markets agricultural products for the burgeoning Asian consumer market.

  Issue a zero coupon bond at an annual interest rate

Assume that HOS could issue a zero coupon bond at an annual interest rate of 4 percent with semi annual compounding for 20 years. If HOS receives $2,264.45 for the bond, how much would it have to pay at the maturity date?

  Change in firms total monthly profits on present value

Microbiotics currently sells all of its frozen dinners cash on delivery but believes it can increase sales by offering supermarkets 1 month of free credit. If the interest rate is 1.5% per month, what will be the change in the firm's total monthly pr..

  Compute the mean and standard deviation

Given the scores 4, 7, 0, 2, 7, 3, 6, 7, compute the Mean, Median, Mode, Range, Standard deviation and Variance I/O.

  Explain the shape of the demand and supply curves

Which parties are the net suppliers of loanable funds? Explain the shape of the demand and supply curves

  Most business organisations establish an overdraft facility

Most business organisations establish an overdraft facility with their bank. Explain the purpose and operation of overdraft finance. Why is this form of debt facility so popular.

  The effective annual rate for your credit card

Borrow the money from your parents, who want an interest payment of 7% every six months. Which is the lower rate?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd