A few years ago, Paula purchased a computer for $1,400 and used it for personal purposes. She then converted the computer to business use. The fair market value of the computer on the date of conversion was $500. What is Paula’s beginning tax basis in the computer for purposes of computing depreciation?

Pablo, a single taxpayer, has taxable income of $170,000 before the sale of a capital asset for $25,000 in the current year. The asset was purchased several years ago and is not Sec. 1250 property, a collectible, or small business stock. Pablo’s adjusted basis in the asset when he sold it was $5,000. How much more tax does Pablo pay because of the sale? (reference the rate schedule above, and ignore any net investment income tax)

Alberto inherits land from Wendy, his grandmother. Wendy originally paid $40,000 for the land, but its fair market value was $270,000 when Wendy died. Alberto’s beginning basis in the land is $270,000.

This year, Hermine paid $13,000 of investment interest expense. She also earned $4,500 in qualified dividends, $5,400 in interest income, and had a short-term capital gain (STCG) of $1,000 and a long-term capital gain (LTCG) of $2,200. The capital gains resulted from the sale of stock held as investments. She has no other investment expenses.   Assuming Hermine does make an election to have her LTCG and qualified dividends taxed at ordinary tax rates, how much investment interest expense may she deduct?

Racism:

There is only one race, the human race. While this statement is true, the statement has implications that could cause people to assume that all humans are 

A good definition of race is:

Describe the main limitations in creating an accurate sinkhole prediction map in the State of Florida (open response, 15-30 words):

Describe the main benefits and limitations of levees (open response, 15-30 words):

Find the vertical asymptotes, if any, of the rational function. a)