JA
Answered
Explain the three categories that a rental activity may fall under if used for both personal and rental purposes.How are the categories determined?
On Jun 22, 2024
Rental property can be categorized as primarily rental use,primarily personal use,and personal/rental use.The categorization depends on the number of rental days compared to the number of personal days the rental property was used.When property is rented for less than 15 days,the property is considered primarily personal.If the property is used personally for no more than 14 days (or 10% of total rental days)and rented for 15 days or more,the property is considered primarily rental.Lastly,if the property is rented for 15 days or more,and personal use exceeds the greater of 14 days or 10% of total days rented,then the property is categorized as personal/rental.
JA
Answered
What have been the trends in income inequality since 1980?
On Jun 19, 2024
Over the years, economic growth has raised incomes in absolute terms; the entire distribution of income has been moving upward. But, the distribution of income by quintiles has become more unequal since 1980. In the lowest quintile, total before-tax income was 4.3 percent in 1980 but dropped to 3.1 percent in 2015. The income share received by the highest 20 percent rose from 43.7 percent in 1980 to 51.1 percent in 2015.