which of the following taxpayers will be allowed the special/bonus depreciation allowance for there property? Jan start using eligible property in her business in tax year 2018 and did not take the special allowance then

Patrick has eligible business property which must be depreciated using the alternative

Arnold placed property into service of March 2019 and gifted the property Tuesday oughter in September 2019

Amanda uses tangible property requiring depreciation under the modified accelerated cost recovery system with a 15 year recovery. In her business starting in 2019

Tina had a base in her rental home of $52300 immediately before a wildfire completely destroys her property, It was valued at $80,000 the value immediately after was $0. Tina received 40000 of a insurance reimbursement for the loss sustained in a federally declared disaster area. what is tina's allowable casualty loss or gain

Which of the following is excluded from income even when cancelation of debt income must be recognized? Principal outstanding from a credit

Principal outstanding From student loans Credit card interest from a personal expense

Mortgage interest from a Qualified residence

All the following will not be included and cancelation of debt except

Deductible debt

gifts, bequests devises and inheritance Canceled credit card debt

Purchase price reduction

Mark tor follow up Question 3 of 75. Which of the following taxpayers will be allowed the speciallbonus depreciation allowance for their property Jana started using eligible property in her business in tax vear 2018 and did not take the special allowance then U Patrick has eligible business property which must be depreciated using the Alternative Depreciation System ADS Arnold placed property into service in March of 2019, and gifted the property to his daughter in September of 2018 Amanda uses tangible property requiring depreciation under the modified accelerated cost recovery system (MACRS) with a 15-year recovery period in her business starting in 2019. Mark for follow up Question 4 of 75. Tina had a basis in her rental home of $52,300. Immediately before a wildfire completely destroyed the property it was valued at $80,000. The value immediately after was $0. Tina received $40,000 of insurance reimbursements for the loss sustained in a federally declared disaster area. What is Tina's allowable casualty loss or gain? 123007 Question 15 of 75. Which of the following is excluded from income even when cancellation of debt income must be recognized O Principal outstanding from credit card. Principal outstanding from student loan. Credit card interest from a personal expense. Mortgage interest from a qualified residence. Mark for follow up Question 16 of 75. All of the following will not be included in cancellation of debt income EXCEPT: Deductible debt. Gifts, bequests, devises, and inheritances. O Cancelled credit card debt. O Purchase price reduction. Mark for follow up