Yaeger Quiz Wednesday Flashcards Preview

Yaeger REG > Yaeger Quiz Wednesday > Flashcards

Flashcards in Yaeger Quiz Wednesday Deck (6)
Loading flashcards...
1
Q

If real estate taxes of $5,000 are paid during construction of a building they are…

2) Otherwise they are…

A

Capitalized

2) expensed in the period incurred

2
Q

Government bonds sold sold by an individual investor are…

A

Capital assets

3
Q

Sale of government bonds sold by an investor is reported as…

A

a capital gain

4
Q

Real property that is subdivided and sold by a dealer is considered to be like…

2) therefore it is excluded as a…

A

Inventory

2) excluded as capital asset

5
Q

IRS Publication 5 recommends the taxpayer take what action if the amount of tax does not exceed $25,000?

A

Make a small case request

6
Q

What is included in depreciable property, land or buildings?

A

Buildings

Decks in Yaeger REG Class (77):