true of false

1. Advertising which is intended to influence public reaction to proposed legislation normally is not a deductible business expense for tax purposes. 2. As a general rule, the amount of a bad debt deduction is limited to the adjusted basis of the debt in the hands of the taxpayer. 3. Full worthlessness of a debt must be proven in order to claim a business bad debt deduction. 4. The portion of an employee's salary deemed "unreasonable" in amount may be considered a dividend distribution to an employee who is also a shareholder of the corporation. 5. A loss incurred on the sale of a taxpayer's personal residence is not deductible. 6. The averaging convention that applies to depreciable property in the year in which it is placed in service is not necessarily the sa 7. Personal use property that a taxpayer converts to business use will have a basis equal to the greater of the asset's adjusted tax basis or fair market value at the date of the conversion. 8. For tax purposes, real property must be depreciated using the straight-line method depreciation. 1. Advertising which is intended to influence public reaction to proposed legislation normally is not a deductible business expense for tax purposes. 2. As a general rule, the amount of a bad debt deduction is limited to the adjusted basis of the debt in the hands of the taxpayer. 3. Full worthlessness of a debt must be proven in order to claim a business bad debt deduction. 4. The portion of an employee's salary deemed "unreasonable" in amount may be considered a dividend distribution to an employee who is also a shareholder of the corporation. 5. A loss incurred on the sale of a taxpayer's personal residence is not deductible. 6. The averaging convention that applies to depreciable property in the year in which it is placed in service is not necessarily the sa 7. Personal use property that a taxpayer converts to business use will have a basis equal to the greater of the asset's adjusted tax basis or fair market value at the date of the conversion. 8. For tax purposes, real property must be depreciated using the straight-line method depreciation