T or F 5. Taxpayers can deduct qualified residence interest on their principal residence and on a second residence selected by the taxpayer if debt is $1,000,000 or less. 6. In order to deduct a charitable contribution, taxpayers must itemize on their return. T or F T or F 7. Fines paid that are ordinary, necessary and reasonable in a trade or business are deductible. T or F 8. The luxury auto limits on depreciation must be reduced if business use is less than 100%. 9. The standard mileage rate includes parking fees, tolls, and property taxes on the T or F vehicle. 10. Transportation costs are deductible when a taxpayer goes to a business meeting away from his or her regular workplace. T or F