Frank owns a real property business. Which of the following is incorrectly listed as a real

property trade or business?

a) A business that develops real property

b) A business that constructs real property

c) A business that acquires real property

d) A business that collects trash from real property

Lloyd moved to a new main home and changed his former main home to rental use during the

year. On his return, where will he deduct his mortgage interest and real estate taxes for his

former main home?

a) Schedule E

b) Schedule A

c) Schedules A and E

d) Schedules A or E

The adjusted basis of Brock's rental property is $135,000, which includes the land value of

$29,000. Brock placed his house in service in October of the previous tax year. What is the

amount of Brock's depreciation for the current tax year?

a) $3,854

b) $4,909

c) $1,023

d) $ 803