Respuesta :
Individual taxpayers' deductible losses on the disposition of investment (capital) assets is restricted to $3,000. The Jacksons would be allowed to deduct $3,000 of the $5,000 loss against their taxable income. The remaining $2,000 loss would carry over to next year.
Consequently, with the loss, their taxable income would be $56,200 ($59,200 from part a minus $3,000).
Tax is defined as a mandatory levy from the people for the state. Every tax money paid by the people will be included in the post of state revenue from the tax sector. The use of taxes is to finance central and local government expenditures for the welfare of the community.
Taxes are very beneficial for the state. Overall, taxes are widely used for:
- Financing state expenditures, such as: expenses that can be disbursed on their own, for example: expenditures for productive projects for goods to be exported.
- Financing reproductive expenditures, such as: expenditures that provide economic benefits for the whole community, for example, spending on irrigation and agriculture.
- Financing expenses that aren't self-liquidating and non-reproductive, for example: expenses for the development of monuments and recreational objects.
- Financing unproductive expenses, for example: expenditures to finance state defense or war and spending for future savings, one of which is spending on orphans.
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