1.Which of these are methods of cost recovery?

a.None of these are cost recovery methods.

b.All of these are methods of cost recovery

c. depreciation

d.Amortization

e.Depletion

2.Which of the these are taxpayers?

Multiple Choice

a.All of these are taxpayers.

b. Subchapter S corporations

c. Regular C corporations

d. Partnerships

3.Individuals filing a joint return are allowed to deduct up to $3,000 of net capital loss against ordinary income ($1,500 if filing single, married filing separately, or head of the household), but any capital losses unused in the year of loss are lost forever.

True or False