Question 121

Alex owns a video and photography business. He is a Sole Proprietor and uses his home as his place of business. Alexs office is a spare bedroom - where he has all his equipment and computers set up to produce videos and professional photographs. His office meets the regular and exclusive use test. Listed below are items that Alex uses in his business and the percentage of business use for each item.Which item below would generally not qualify as listed property? a) Video camera, 90%. b) Photographic equipment, 78%. c) Automobile, 45%. d) Cellular phone, 100%.

Question 119

Dennis is a general manager at a clothing store. In 2020 and 2021, he incurred overnight travel expenses that included meals and entertainment. In order for Dennis to claim his travel expenses as business related, he must meet certain criteria.Which of the following is incorrectly listed as a characteristic of business-related travel expenses? a) Business-related travel must be ordinary and necessary. b) Business-related travel must be expenses incurred for travel away from home for business, professional, or job-related reasons. c) Business-related travel must not be extravagant or lavish. d) Business-related travel must be for the convenience of the employee.