Question
1. Under prior law, job-seeking expenses were deductible as a miscellaneous itemized deduction in excess of 2% of AGI if incurred by an individual who
1. Under prior law, job-seeking expenses were deductible as a miscellaneous itemized deduction in excess of 2% of AGI if incurred by an individual who is employed and looking for work in the same trade or business:
A) Only if the individual actually found a new job
B) Regardless of whether the individual found a new job
C) If the expenses related to the individual's first job
D) Both (a) and (b)
2. For MACRS depreciation purposes, in general, under the "table method", autos and light-duty trucks are depreciated over what period?
A) Three years
B) Five years
C) Ten years
D) Fifteen years
3. Research and experimentation expenditures connected with a trade or business can be capitalized and amortized for tax purposes over a period of not less than:
A) 30months
B) 60 months
C) 90 months
D) 120 months
I need help, urgently with this three questions please!
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