QUESTION 23

1. In January 2019, Pam, a calendar year cash basis taxpayer, made her fourth quarter estimated state income tax payment for 2018. The payment is deductible on Pam's 2018 return.

   True

   False

QUESTION 24

1. If a factory is destroyed by fire on July 1, 2019, the taxpayer has until December 31, 2021 to replace the property and not recognize a gain.

   True

   False