Natasha, a sole proprietor, is a member of North shore country club the annual membership fee is 5000 in 2019 she took clients golfing the total cost of green fees was 3000. how much does she claim as a business expense on her schedule C?

a. 5000

b. 1500

c. 3000

d. 0

Generally, for an activity to be treated as a trade or business which of the following is required?

a. regular and continual effor designed to seek profit

b. organized as a corporation or partnership

c. always generate a profit

d. no more thab intermittment effort toward the activity

Jane sold her house for 365000. Her adjusted basis and the house was 60,000 if Jane lived in the house for six years in a single how much getting lost a report on her tax return?

a. 55000

b. 305000

c. 0

d. 250000

Dave purchased stock on February 14, 2019. if he wishes to achieve a long-term holding. What is the first day that he can sell the stock as a long-term gain?

a. 2/13/2020

b. 2/14/2021

c. 2/15/2020

d. 2/15/2024

Sally bought 2000 shares of Disbey Stock for 6000 olus an additional $200 of commission. What is Sally's orginal basis in the stock?

a. 5000

b. 6200

c. 6000

d. 5800

What Is the maximum amount of a net capital loss a taxpayer can deduct in one year?

a. 1000

b. 10000

c. 5000

d. 3000

All of the followinf are capital assets except:

a. personal bicycle

b. personal computer

c. inventory held by home depot

d. ge stock