{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-06T11:32:57-04:00", "answer_date": "2024-06-06 11:32:57", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2362492", "url": "\/study-help\/questions\/amanda-and-earl-are-married-and-live-in-texas-amandas-2362492", "question_creation_date_js": "2024-06-06T11:32:57-04:00", "question_creation_date": "Jun 06, 2024 11:32 AM", "meta_title": "[Solved] Amanda and Earl are married and live in T | SolutionInn", "meta_description": "Answer of - Amanda and Earl are married and live in Texas. Amanda's parents are very wealthy and have given her significant amount | SolutionInn", "meta_keywords": "amanda,earl,married,live,texas,s,parents,wealthy,significant,amounts,money,owns", "question_title_h1": "Amanda and Earl are married and live in Texas. Amanda's parents are very wealthy and have given her significant amounts of money. Amanda owns a", "question_title": "Amanda and Earl are married and live in Texas. Amanda's parents are", "question_title_for_js_snippet": "Amanda and Earl are married and live in Texas Amanda's parents are very wealthy and have given her significant amounts of money Amanda owns a rental home that her parents gave to her Her parents paid $200,000 for the house and gifted it to Amanda when it was worth $250,000 Earl comes from a poor family and has worked very hard to get where he is today He has a great job and makes a comfortable living In 2022, Earl and Amanda had the following transactions 1 Amanda's rental home earned $20,000 in rental income The house value also increased by $100,000 due to the grazy real estate market 2 Amanda's parents gave her an additional $50,000 as a gift 3 Earl earned $120,000 in salary 4 They sold their principal residence for $850,000 They had purchased their home five years ago using money they earned during marriage for $300,000 Amanda and Earl file a joint income tax return Please determine how much income Amanda and Earl will report on their return Be sure to fully explain your analysis", "question_description": "\"image Amanda and Earl are married and live in Texas. Amanda's parents are very wealthy and have given her significant amounts of money. Amanda owns a rental home that her parents gave to her. Her parents paid $200,000 for the house and gifted it to Amanda when it was worth $250,000. Earl comes from a poor family and has worked very hard to get where he is today. He has a great job and makes a comfortable living. In 2022, Earl and Amanda had the following transactions: 1. Amanda's rental home earned $20,000 in rental income. The house value also increased by $100,000 due to the grazy real estate market. 2. Amanda's parents gave her an additional $50,000 as a gift. 3. Earl earned $120,000 in salary. 4. They sold their principal residence for $850,000. They had purchased their home five years ago using money they earned during marriage for $300,000. Amanda and Earl file a joint income tax return. Please determine how much income Amanda and Earl will report on their return. Be sure to fully explain your analysis", "transcribed_text": "", "related_book": { "title": "Intermediate Accounting", "isbn": "978-1118443965, 1118800532, 9781118800539, 978-0470873991", "edition": "IFRS Edition", "authors": "kieso, weygandt and warfield.", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/71.jpg", "uri": "\/textbooks\/intermediate-accounting-ifrs-edition-71", "see_more_uri": "" }, "free_related_book": { "isbn": "1927457327", "uri": "\/textbooks\/jump-math-ap-book-1-1-us-edition-1st-edition-978-1927457320-342971", "name": "JUMP Math AP Book 1 1 US Edition", "edition": "1st Edition" }, "question_posted": "2024-06-06 11:32:57", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-more-professionals-use-ess-the-less-expertise-they-accumulate", "description": "The more professionals use ESs, the less expertise they accumulate, because the less actual hands-on experience they gain. 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