7. What is the maximum amount of Capital losses that can be taken by an individual taxpayer per year? (Hint: Include any offsetting amounts of STCLs that are used). 8. Describe depreciation RECAPTURE, the purpose of it. There are two code sections/property types that this applies to. When does Recapture apply? 9. What is Like-Kind Exchanges and describe how it works and why it is so attractive to property owners? 10. Describe in detail what is found in each major section on the Schedule A, Itemized deductions and any limitations that may apply to each of them