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Q: What is basis of sale?
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What is types of accounting?

In Accounting, there are two types. There is Cash Basis Accounting and Accrual Basis Accounting. With Cash Basis, transactions are considered to have happened when cash is exchanged, ie. a cash sale or cash payment. In the Accrual Basis, transactions are considered when the event happens. For example, a sale happens when an invoice is given. A debt happens when a bill is received.


Is a 1099-S counted as taxable income from the sale of settlement of estate?

Taxable income/loss is the difference between the basis of the property and the sales price. If they are identical, there is no income/loss. A sale in the settlement of an estate would generally appear on IRS Form 1041. Its taxability would generally be based on the cost basis, cost of sale including preparation for sale & the sales price. If the sale is more than six months post-mortem an appraisal as to value at date of death and/or six months post date of death would be needed to establish cost basis.


I need to find out my cost basis for the sale of my shares as of 9/25/08?

There is a cost basis calculator online here: http://www.calcpartner.com/csCostBase.asp?mainframe.htm


What is the tax rate when you sell a house owned by a corporation?

The profit from the sale of the house (amount of sale minus the basis) will be taxed as income for the corporation, at their usual rate.


Where can I browse commercial propertities for sale?

mls.com or mls.ca will have commercial properties for sale listedd. You can also call your local realtor who will be able to update you on a regular basis with new properties.


Is finished goods valuation is done on sale price or on cost?

Finished goods valuation is done on the basis of cost price unless cost price not available then sale price can also be use.


Realized gain or loss is measured by the difference between the amount realized from the sale or other disposition of property and the property's adjusted basis at the date of disposition?

Realized gain or loss is measured by the difference between the amount realized from the sale or other disposition of property and the property's adjusted basis at the date of dispositionAnswer: TrueRealized gain or loss is the difference between the amount realized and the property's adjusted basis.


Why is point of sale usually used as the basis for the timing of revenue recognition?

I don't know . If I know how am I are searching online everywhere


What was the important basis for Corinth's political and economic strength during the sixth century BCE?

Built on the sale of pots and their contents.


Why is the point of sale usually used as the basis for timing of revenue recognition?

I don't know . If I know how am I are searching online everywhere


How much taxes do you pay if i sale a car in NC?

If it is a private sale between two individuals then you shouldn't have to report it on your income taxes at all. If you have used it in business or taken business mileage deductions then you probably will have to report the sale on your tax return. You will use the Sale of Business Assets Form and calculate the basis and sale price based on information you did not provide here.


Does an executor get paid for the sale of a property based on time of death value or actual sell price?

The executor normally doesn't get paid based on the sale of property. The law normally allows them to choose a time for the basis of value.