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Remaining Time: 1 hour, 43 minutes, 55 seconds, Question Completion Status: QUESTION 16 Which of the following is true of a like-kind exchange: a. A new holding period for capital gains treatment starts on the day the exchange is completed O b. There must be no cash exchanged to qualify. O c. Office furniture can be exchanged for computers. O d. The properties exchanged cannot be personal property. QUESTION 17 The child and dependent care provisions: O a. Are available for the care of spouses incapable of self-care. O b. Are available only to single parents O c. Are allowed only for taxpayers earning less than $43,000. O d. Apply only to children under age 15. QUESTION 18 In calculating MACRS tax depreciation: a MACRS depreciation requires that salvage value be taken into account. O b. Straight-line depreciation is higher than double declining balance depreciation in the early years O c, Double declining balance is a method of straight-line depreciation. O d. Straight-line depreciation is higher than double declining balance depreciation in the later years QUESTION 19 Taxpayers are allowed two tax breaks for adoption expenses. They are allowed Qualified Expenses Paid personally Paid by employer O a Exclusion Credit b Credit Exclusion O c Credit Credit Od Exclusion Exclusion Click Save and Submit to save and submit. Click Sque All Answers to save all answers.
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