all of them if possible plz

25) When a taxpayer experiences a net loss from a nonresidence (rental property): a) the taxpayer will not be allowed to deduct the loss under any circumstance if the taxpayer does not have passive income from other sources. b) the loss is fully deductible against the taxpayer's ordinary income no matter the circumstances c) if the taxpayer is not an active participant in the rental, the taxpayer may be allowed to deduct the loss even if the taxpayer does not have any sources of passive income. d) if the taxpayer is not allowed to deduct the loss due to the passive activity loss limitations, the loss is suspended and carried forward until the taxpayer generates passive income or until the taxpayer sells the property Answer:D 26) Harvey rents his second home. During the year, Harvey reported a net loss of $35,000 from the rental. If Harvey is an active participant in the rental and his AGI is $80,000, how much of the loss can he deduct against ordinary income for the year? a) $35,000 b) $25,000 c) $5,000 d) $0 Answer: B 27) Which of the following statements regarding the home office expense deduction is correct? a) For all home offices that are at least 300 square feet, the maximum amount of home office expense allowed under the simplified method is the same. b) Taxpayers may choose to use the actual expense method for determining home office expenses in one year and choose the simplified method in a different year. c) Under the simplified method of computing home office expenses, a taxpayer is not allowed to deduct any depreciation associated with a home as a home office expense. d) All of these choices are correct. Answer:D 28) Which of the following statements regarding defined benefit plans is false? a) The benefits are based on a fixed formula. b) The vesting period can be based on a graded or cliff schedule. c) Employees bear the investment risks of the plan: d) Employers are generally required to make annual contributions to meet expected future liabilities. Answer: C 29) Which of the following describes a defined contribution plan? a) Provides guaranteed income on retirement to plan participants. b) Employers and employees generally may contribute to the plan. c) Generally set up to defer income for executives and highly compensated employees but not other employees d) Retirement account set up to provide an individual a fixed amount of income on retirement