Multiple Choice
What is the proper tax treatment of capital improvements for a residential or commercial rental property?
A) IRC section 179 may be claimed.
B) Can be deducted as ordinary expenses.
C) Must be depreciated using the double-declining balance method.
D) Must be depreciated using straight-line over 27½ or 39 years.
Correct Answer:

Verified
Correct Answer:
Verified
Q54: What is meant by a passive activity?
Q55: Lupe rented her personal residence for
Q56: Jackson owns a condominium in Las Vegas,Nevada,and
Q57: In general,losses from passive activities may be
Q58: Jamison owns a rental cabin in Mammoth,and
Q60: In the case of personal/rental property,a taxpayer
Q61: Colin and Megan own a cabin in
Q62: Which of the following is not considered
Q63: A property that has been rented for
Q64: Which of the following statements is true