All of the following are types of direct participation programs (dpps) except quizlet

Your answer, 35,000., was incorrect. The correct answer was: 55,000.

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Which of the following is a direct participation program?
What is an example of a DPP?
Which of the following are types of oil and gas direct participation programs?
Which of the following are considered intangible drilling costs for an oil and gas DPP quizlet?

A limited partner can only deduct partnership losses to the extent of his basis. To determine basis, add the original investment ($20,000). to any recourse debt assumed by the investor ($50,000). Recourse debt adds to basis as the partner is liable for this amount. Cash distributions received reduce basis ($15,000). At year end, the investor's basis and the amount he can deduct from passive income is $55,000.

Reference: 13.2.4.2.1 in the License Exam Manual.

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Big Boomers makes custom clubs for golfers. The company also provides repair services for golfers with broken clubs. Most of the work is done by hand and with small tools used by craftsmen. Customers are quoted a price in advance of their clubs being manufactured or repaired. To produce and repair clubs at a profit, management must have a thorough understanding of product costs. Jeff Ranck, manager of the business, is considering using either direct labor hours or the number of jobs as the basis for allocating overhead costs. He has estimated the following amounts for the coming year:

Estimated total overhead	$180,000\$180,000
Estimated direct labor hours	15,000
Estimated number of jobs	2,500

b. Shown below is information for two customer orders:

Job 1 Manufacture a full set of custom clubs. Direct materials used, $300; direct labor hours, 12; direct labor cost,$276\$276.

Job 2 Repair broken putter and replace grips on a full set of irons. Direct materials used, $100\$ 100; direct labor hours, 3; direct labor cost, $60\$ 60.

Determine the total cost of each job assuming that overhead costs are applied on the basis of:

Direct labor hours
Number of jobs

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Which of the following is a direct participation program?

Types of Direct Participation Programs Non-traded real estate investment trusts. Non-listed business development companies. Energy-related projects. Equipment leasing companies.

What is an example of a DPP?

The most common DPPs are non-traded real estate investment trusts (REITs), equipment leasing corporations and energy exploration and development limited partnerships. Investing through a DPP gives you partial ownership of actual physical assets.

Which of the following are types of oil and gas direct participation programs?

Types of Direct Participation Programs The most common DPPs are non-traded REITs (about two-thirds of the DPP market), non-listed business development companies (BDC) (which act as debt instruments for small businesses), energy exploration and development partnerships, and equipment leasing corporations.

Which of the following are considered intangible drilling costs for an oil and gas DPP quizlet?

Labor, fuel, or drilling rig rental. Intangible drilling costs are the noncapital costs of putting in a well. They are currently deductible expenses, like fuel, wages, and rent.