Taxation

Undo Clipboard H31 D E A B Use the uropeown Dux provided to serer une retter 1 5 A. 6 7 8 1. Which of the following statements is correct? Listed personal property... Losses are not allowed. B. Losses can be deducted against any gains. C. Losses can be deducted against gains on listed personal property. D. Cannot be carried back or forward. 10 2. Which of the following statement regarding the principal residence exemption is correct? 11 A. If a taxpayer owns only one residence, the gain will be fully exempt. 12 B. if a taxpayer owns only two residences, the gain will be fully exempt. A taxpayer must designate the home for all years owned to fully exempt the gain. 4 ID The principal residence exemption is available for both a taxpayer and their spouse. 13 C. shares