1. Which of the following is NOT true? a. Bonus depreciation rate in 2022 is...
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Accounting
1. Which of the following is NOT true? a. Bonus depreciation rate in 2022 is 100%. b. 1250 and 1245 depreciation recaptures are taxed at the same rate. c. $1250 depreciation recaptures the gains from sale of business used realty. d. $1245 depreciation recaptures the gains from sale of business used personalty. 2. Which of the following is an ordinary asset for tax purpose? a. Stock b. Inventory c. Bond d. Patent 3. Which of the following is true? a. Any realized loss in like-kind exchange is not recognized for tax purpose. b. The basis of property received through inheritance is decedent's basis. c. $1231 loss is long-term capital loss d. $1231 property includes accounts receivables from the ordinary course of busine 4. During 2022, Trevor has the following capital transactions: Long-term capital gain - LTCG 16,000 Long-term capital loss - LTCL (25,000) Short-term capital loss - STCL (32,000)
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