Question 10 (1 point)

Question 10 Unsaved

The special deduction for active participation in a rental real estate activity is computed on:

Question 10 options:

Schedule A.

Schedule E.

Form 8332.

Form 8829.

Form 8582.

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Question 17 (1 point)

Question 17 Unsaved

Benito died on May 23, 2014, bequeathing his entire $3,000,000 estate to his brother, Alfonso. The executor of Benito's estate validly elected to use the alternative valuation date. Benito's estate included 4,000 shares of listed stock, for which Benito's basis was $500,000. The stock was distributed to Alfonso eight months after Benito's death. The fair market values of this stock on various dates follow:

May 23, 2014 $600,000

November 23, 2014 550,000

January 23, 2015 530,000

Alfonso's basis in the stock is:

Question 17 options:

1) $500,000.

2) $530,000.

3) $550,000.

4) $600,000.

5) None of the above.

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