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An example of "loss of use" : if your house burns, and you have to rent an apartment or another house to live in while your damaged home is being repaired or rebuilt. If you have the right home owner insurance, they will pay for your "loss of use" by reimbursing the rent you had to pay while waiting for your home to be repaired or rebuilt.
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how does income and expenses account difference from Profit and Loss Account?
Income and expense for not for profit organisations is same as profit and loss account but they cannot use the name profit and loss account because not for profit organisations are not formed to earn profit.
If I change my primary residence to a rental for any period and then sell it at a loss can I deduct the loss?
You will never be able to take a loss for the decrease in value during the time it was a personal use property. At best, you'll be able to take a loss for any further decrease in value after you convert it to a rental property. It is very important that you get an appraisal at the time you convert it. If you sell it for a loss, your basis for determining a loss will be the lesser of the following two numbers: 1) The FMV of the property on day it was converted to rental use minus depreciation allowed or allowable. 2) The original adjusted basis of the property minus depreciation allowed or allowable. On the other hand, your basis for determining a gain will be the original adjusted basis minus depreciation allowed or allowable. If you have a gain use the loss basis and a loss using the gain basis, then your gain is considered to be zero.
Can you use capital loss to offset dividend income?
ANSWER No capital loss can only be used to reduce any capital gain, and even in then there are rules. You can not use capital gain to offset against ordinary income. NB: Personal use capital loss can not be offset against any capital gain, losses on collectibles can only be offset against other collectibles capital gain and all "other" capital loss e.g. dividends, shares, real estate can be offset against "other" capital gain.
Who might use a database?
business man/women might use it so they can manage there paper work shop keepers might you it to organize there work and the profit and loss
When do you use check?
When you want to pay someone money but do not want to carry cash and face the risk of loss or being stolen.
What is the legal definition of consequential loss?
It is the loss in the value of loss resulting from the use of property
What is partial or total loss of voluntary muscle use?
Partial or total loss of voluntary muscle use is called paralysis. Paralysis can lead to the loss of an independent lifestyle.
How do you use the word loss and lost in a sentence?
company take a 417.00 loss
No, we use professional grade interconencts and there is absolutely no loss of quality?
No, we use professional grade interconencts and there is absolutely no loss of quality
What is the loss of ability to use words?
retared
Why do retailers use loss prevention?
Retailers use loss prevention because they fear people will come and steal their products. If they do not take up loss prevention, they will lose a lot of money every time an item is stolen.
What is the common use of tenuate and adipex?
Weight loss
Unusual weight gain or loss and sterility can result from inadequate rest or dehydration or anabolic steroid use or excessive heat loss?
C. Anabolic Steroid Use
Aloe vera for weight loss?
No, while it may be used as a skin emollient, there is no evidence of use for weight loss.
What does s.l.u mean in workers compensation?
SLU - scheduled loss of use. when a loss to a part or member of a body can be determined, e.g. amputation of a finger, 50% loss of vision.
What is madarosis?
Commonly madarosis refers to loss of eyelashes. More correctly however is the use of the term ciliary madorosis for eyelash loss and superciliary madarosis for eyebrow loss.
Are laxatives effective for weight loss?
Laxatives are not effective for weight loss, if anything it will harm you. It is not safe to use laxatives, you should use a diet or exercise and also see a doctor.
