Which of the following is false regarding an $83(b)$ election?

a$.$ The election freezes the value of the employee's compensation as of the grant date.

b$.$ The election is an important tax$-$planning tool if the stock is expected to increase in value.

c$.$ The election only changes the amount, not the character of the compensation.

d$.$ If an employee leaves before the vesting date, any loss is limited to $$3,000.$

Stevie recently received $1,000$ shares of restricted stock from her employer, Nicks Corporation, when the share price was $$8$ per share. Stevie's restricted shares vested three years later when the market price was $$11.$ Stevie held the shares for a little more than three years and sold them when the market price was $$16.$ Assuming Stevie made an $83(b)$ election, what is the amount of Stevie's ordinary income with respect to the restricted stock?

a$.$ $$0$

b$.$ $$5,000$

c$.$ $$8,000$

d$.$ $$11,000$

Which of the following is not an example of a taxable fringe benefit?

a$.$ Personal use of corporate jet

b$.$ $$1,000,000$ group$-$term life insurance policy

c$.$ $$225$ of monthly employer$-$provided parking

d$.$ Automobile allowance

Tax cost recovery methods do not include:

a$.$ amortization.

b$.$ capitalization.

c$.$ depletion.

d$.$ depreciation.

e$.$ all of the choices are tax cost recovery methods.

Clay LLC placed in service machinery and equipment $($seven$-$year property$)$ with a basis of $$2,450,000$ on June $6,2023.$ Assume that Clay has sufficient income to avoid any limitations$.$ The maximum of depreciation expense will include

a$.$ MACRS depreciation

b$.$ $$179$ depreciation

c$.$ Bonus depreciation

d$.$ a & $c$

e$.a$&$b$&$c$