Ch7V1TB - CHAPTER 7 DEDUCTIONS AND LOSSES: CERTAIN BUSINESS...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 7 DEDUCTIONS AND LOSSES: CERTAIN BUSINESS EXPENSES AND LOSSES Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Bad debt: loss amount New 2 Bad debts Unchanged 2 3 Bad debts: tax benefit rule Unchanged 3 4 Reserve method Unchanged 4 5 Bad debt: collection New 6 Proof of worthlessness Unchanged 6 7 Nonbusiness bad debt Unchanged 7 8 Nonbusiness bad debt versus business bad debt Unchanged 8 9 Nonbusiness bad debt: corporation New 10 Business bad debt: classification Unchanged 10 11 Nonbusiness bad debt Unchanged 11 12 Bona fide debt Unchanged 12 13 Worthless security Unchanged 13 14 Worthless securities Unchanged 14 15 Worthless securities Unchanged 15 16 Gain on § 1244 small business stock New 17 Loss on § 1244 small business stock Unchanged 17 18 Gain and loss on § 1244 small business stock Unchanged 18 19 Rental loss Unchanged 19 20 Casualty loss: defined Unchanged 20 21 Casualty loss: taxpayer New 22 Casualty loss: defined Unchanged 22 23 Theft loss: amount Unchanged 23 24 Theft loss: time of deduction Unchanged 24 25 Casualty loss: reimbursement Unchanged 25 26 Casualty loss: amount of deduction Unchanged 26 27 Casualty loss: amount of deduction New 28 Casualty loss: amount of deduction Unchanged 28 29 Casualty loss: amount of deduction Unchanged 29 30 Casualty loss: personal use property Unchanged 30 31 Casualty loss: no insurance claim filed New 32 Casualty loss: classification Unchanged 32 33 Casualty loss: 10% adjusted gross income floor Unchanged 33 34 Theft loss: classification Unchanged 34 7-1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
7-2 2009 Annual Edition/Test Bank 35 Research and experimental expenditures Unchanged 35 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 36 Research and experimental expenditures New 37 Research and experimental expenditures Unchanged 37 38 Domestic production activities deduction: Unchanged 38 calculation 39 Domestic production activities deduction: Unchanged 39 carryover 40 Domestic production activities deduction: W-2 Unchanged 40 wage limit 41 Net operating loss: defined New 42 Net operating loss: carryback period Unchanged 42 43 Net operating loss: farming Unchanged 43 44 Net operating loss: farming New 45 Net operating loss: nonbusiness income Unchanged 45 46 Net operating loss: personal casualty loss Unchanged 46 47 Net operating loss: computation New 48 Net operating loss: computation Unchanged 48 49 Net operating loss: computation Unchanged 49 50 Net operating loss: classification Unchanged 50 MULTIPLE CHOICE 1 Bad debts Unchanged 1 2 Bad debts: cash basis taxpayer New 3 Nonbusiness bad debt Unchanged 3 4 Business bad debt Unchanged 4 5 Bad debts: purchased debt instrument Unchanged 5 6 Bad debts: specific charge-off method and tax
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 44

Ch7V1TB - CHAPTER 7 DEDUCTIONS AND LOSSES: CERTAIN BUSINESS...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online