Tobias is a 50% member in Solomon LLC, which does not invest in real estate. On January 1, Tobias's adjusted basis for his LLC interest is $239,000, and his at-risk amount is $191,200. His share of losses from Solomon for the current year is $310,700, all of which is passive. Tobias owns another investment that produced $167,300 of passive activity income during the year. Required:
How much of Solomon’s losses may Tobias deduct in 2015 on his Form 1040? How much of the loss is suspended, and what Code provisions cause the suspensions?

What do economists mean when they use the latin expression ceteris paribus?

During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?

In the supply-and-demand schedule shown above, at the lowest price of $50, producers supply music players and consumers demand music players.