-Krishna owns a parcel of land she acquired on June 1, 2012, as an investment....
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Accounting
-Krishna owns a parcel of land she acquired on June 1, 2012, as an investment. She exchanges the land on July 5, 2018, for a storage building to be used in her business and marketable securities to be held as an investment. On what date does the storage building's holding period begin?
A) June 1, 2012
B) June 2, 2012
C) July 5, 2018
D) July 6, 2018
-Bojing owns a parcel of land she acquired on June 1, 2012, as an investment. He exchanges the land on July 5, 2018, for a storage building to be used in his business and marketable securities to be held as an investment. The marketable securities' holding period begins on
A) June 1, 2012
B) June 2, 2012
C) July 5, 2018
D) July 6, 2018
-Jake and Christina are married and file a joint return for 2018 with taxable income of $100,000 and tax preferences and adjustments of $20,000 for AMT purposes. Their regular tax liability is $13,879. What is the amount of their total tax liability?
A) $7,248
B) $9,230
C) $13,879
D) $25,708
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