On which of the following properties may a taxpayer claim a depreciation or amortization deduction?

1) Internally generated goodwill of a business.

• A. May claim a depreciation or amortization deduction.
• B. May NOT claim a depreciation or amortization deduction.

2) The land on which the business building is located.

• A. May claim a depreciation or amortization deduction.
• B. May NOT claim a depreciation or amortization deduction.

3) A building used in business.

• A. May claim a depreciation or amortization deduction.
• B. May NOT claim a depreciation or amortization deduction

4) A former residence which the taxpayer now rents to another individual.

• A. May claim a depreciation or amortization deduction.
• B. May NOT claim a depreciation or amortization deduction.

5) A car used 30% of the time for personal reasons and 70% for business purposes.

• A. May claim a depreciation or amortization deduction for the personal use portion.
• B. May NOT claim a depreciation or amortization deduction for the personal use portion.

6) A car used 30% of the time for personal reasons and 70% for business purposes

• A. May claim a depreciation or amortization deduction for the business use portion.
• B. May NOT claim a depreciation or amortization deduction for the business use portion.

7) A building leased from another taxpayer and used the lessee's business

• A. May claim a depreciation or amortization deduction.
• B. May NOT claim a depreciation or amortization deduction.

8) Cost of a customer list acquired in a business acquisition.

• A. May claim a depreciation or amortization deduction.
• B. May NOT claim a depreciation or amortization deduction.