QUESTION 21 Taxpayer purchased real property for $500,000. This is the only asset taxpayer purchased during the year. Under which of the depreciation conventions will this asset tal? Mid Month Mid Quarter Mid Year Mid Market QUESTION 22 For purposes of the Texas Franchise Tax, which of the following can NEVER be passive? An LLC A corporation A general partnership D A limited partnership QUESTION 23 Which of the following is not a requidament to be considered a 1231 asset? Property is titled to a US citiren Property is used in an active trade or business Property is held for one year or more Property is land depreciable property, or a sec, 197 intangle QUESTION 24 o 3 Type here to search RE L