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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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