6. Which of the following properties is not eligible for the 179 expense election when purchased? (Points : 1)

A business automobile. A business computer. Rental property. Manufacturing equipment.

Question 7.7. Jake purchased a $300,000 earthmover for his business. He sold the earthmover for $245,000 after taking $210,000 of depreciation. What is the nature and amount of the gain or loss on the sale? (Points : 1)

$55,000 Section 1245 ordinary income and $100,000 Section 1231 gain. $90,000 Section 1245 ordinary income and $65,000 Section 1231 gain. $155,000 Section 1231 gain. $155,000 Section 1245 ordinary income.

Question 8.8. What form is filed to report the self-employment tax? (Points : 1)

Form 1040. Schedule SE. Schedule C. Schedule D.

Question 9.9. Which of the following is not considered a capital improvement for a rental activity? (Points : 1)

Addition of a bathroom Replacement of the roof Repair of a leaky water pipe New landscaping

Question 10.10. Reuben, a single taxpayer, has wage income of $75,000. He also has a short-term capital loss of $5,000, a short-term capital gain of $2,000, and a long-term capital gain of $3,000. What is Reuben's AGI for 2014? (Points : 1)

$72,000. $75,000. $77,000. $78,000.