In Year 1 Cypress, who is married but filing separately, incurred a net capital loss in the amount of $25,000. Cypress also had the following net capital gains in Year 1: ABC stock Short-term $7,000
DEF stock Short-term 2,000
GHI stock Short-term 5,000
JKL stock Long-term 4,000
MNO stock Long-term 3,000
Total $21,000
What amount, if any, of the Year 1 capital loss will Cypress carry over to Year 2 if the Year 1 deduction is maximized?
a. $4,000
b. $1000
c. $2.500

Marvin wrote a check of $58.25 for the water bill and $450 for rent. he also made a deposit of $124.16. how much is his new balance after writing the checks and making the deposit?

Tara incorporates her sole proprietorship, transferring it to newly formed black corporation. the assets transferred have an adjusted basis of $240,000 and a fair market value of $300,000. also transferred was $10,000 in liabilities, $1,000 of which was personal and the balance of $9,000 being business related. in return for these transfers, tara receives all of the stock in black corporation. a. black corporation has a basis of $241,000 in the property. b. black corporation has a basis of $240,000 in the property. c. tara’s basis in the black corporation stock is $241,000. d. tara’s basis in the black corporation stock is $249,000. e. none of the above.

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.