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please answer all parts true or false with an explanation please type your response 7) Gerald, a physically handicapped individual, pays $9,000 for the installation

please answer all parts

true or false with an explanation

please type your response

7) Gerald, a physically handicapped individual, pays $9,000 for the installation of wheelchair ramps,

support bars, and railings in his personal residence. These improvements increase the value of his

personal residence by $2,000. Only $7,000 of the expenditure qualifies as a medical deduction.

8) Points paid on the loan for the purchase of a new home are not deductible on an

individual's tax return.

9) Warren sold his personal residence to Alicia on July I, 2008. He had paid $4,200 in real property

taxes on March l, 2008, the due date for property taxes for 2008. Warren must increase the

amount realized for his property by the portion of the $4,200 allocable to Alicia.

l 0) In April 2008, Bertie, a calendar year cash basis taxpayer, had to pay the state of Michigan

additional income tax for 2007. Even though it relates to 2007, for Federal income tax purposes

the payment qualifies as a tax deduction for tax year 2008.

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