Which of the following statements regarding the ability of taxpayers to expense items under the Tangible Property Regulations are true?

PICK ALL THAT APPLY!!

Question options:

	The safe harbor provisions of the rules allow a taxpayer without an applicable financial statement can expense items up to $2,500 per item
	The safe harbor provisions of the regulations allow taxpayers to expense a total of $5,000 (if they have an applicable financial statement) or a total of $2,500 (if they do not have an applicable financial statement) of small items purchased during the year.
	If the taxpayer expenses items for tax purposes under these regulations, the taxpayer must follow the same practice in the taxpayer's financial statements or accounting books and records
	The safe harbor provisions of the rules allow a taxpayer with an applicable financial statement can expense items up to $5,000 per item