Q3VDSolutions - ACCTG321 Spring2010 Quiz#2 VersionD 1.

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ACCTG 321 Spring 2010 Quiz #2 Version D 1. For a home to be considered a pure rental property, a taxpayer must  a. Rent the property for 15 days or more during the year. b. Use the property for personal purposes for no more than the greater of (a) 14 days or (b) 10 percent of the total  days rented. c. Use the property for personal purposes for no more than the lesser of (a) 14 days or (b) 10 percent of the total  days rented. d. A and B e. A and C 2. Which of the following statements regarding the home office expense deduction is correct?  a. Taxpayers allocate expenses of the home to the home office based on the size of the office relative to the size of  the home. b. A taxpayer is not allowed to deduct any home office expenses unless the taxpayer has no other place to do  business. c. A taxpayer is not allowed to deduct any depreciation associated with a home as a home office expense. d. A taxpayer must own a home in order to claim home office expenses. 3. Which of the following statements regarding income tax withholding is incorrect?  a. The withholding tables are designed so that employee withholding approximates the tax liability. b.
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This note was uploaded on 11/03/2010 for the course ACCTG 321 taught by Professor Will during the Spring '08 term at San Diego State.

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Q3VDSolutions - ACCTG321 Spring2010 Quiz#2 VersionD 1.

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