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Which of the following is/are trade or business expenses? I. Sally incurs legal expenses related to real estate he leases to Bucko Burger Hamburger Haven
Which of the following is/are trade or business expenses?
I. | Sally incurs legal expenses related to real estate he leases to Bucko Burger Hamburger Haven for a parking lot. Sally does little but negotiate the lease every year. |
II. | Maria owns several rental apartments. She negotiates new rental contracts, arranges for repairs and maintenance, and handles all leasing activities. |
a. | Only statement I is correct. |
b. | Only statement II is correct. |
c. | Both statements are correct. |
d. | Neither statement is correct. |
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