2. Which of the following is not a "trade or business" expense? (Points : 1)

Mortgage interest on a warehouse. Depreciation on business equipment. Mortgage interest on a personal residence.

Cost of goods sold.

5. Cole purchased a car for business and personal use. In 2014, he used the car 60% for business (13,000 total use miles) and used the standard mileage rate to calculate his vehicle expenses. He also paid $1,500 in interest and $360 in county property tax on the car. What is the total business deduction related to business use of the car rounded to the nearest dollar? (Points : 1)

$1,860. $4,368. $5,484. $6,228.

Question 10.10. Samson purchased some equipment for $86,749 on March 15, 2013. He decided he did not need the equipment and sold it on March 10, 2014 for $82,000. The equipment was subject to depreciation of $16,851 for 2013 and 2014. What gain or loss will Samson recognize on the sale of the equipment? (Points : 1)

$4,749 capital loss. $4,749 ordinary loss. $12,102 capital gain. $12,102 ordinary gain.