Danica Owned a Car That She Used Exclusively for Business

question 96

Essay

Danica owned a car that she used exclusively for business.The car was purchased in 2010 and sold in 2012 for a recognized gain of $9,000.However, the sale resulted in no AMT.Why?

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Definitions:

Comparable Interface

An interface in Java that imposes a natural ordering on the objects of each class that implements it, used to allow objects to be compared.

Java.util

The java.util package provides a collection of utility classes that are useful for tasks involving collections, dates, and system properties.

Java.io

A package in Java that contains classes for system input and output through data streams, serialization, and the file system.

Java.awt

A package in Java that contains classes for creating graphical user interfaces and for painting graphics and images.