Which of the following uses of a dwelling unit does not count as personal use? a. Th e taxpayers parents use the unit for two weeks and pay a fair rental price. b. Th e dwelling is rented to a friend for less than a fair rental price. c. Th e taxpayer stays at the dwelling while working full-time to replace the roof. d. All of the above count as personal use. e. None of the above count as personal use. Which of the following statements does not apply to a vacation home that is rented out for less than 15 days during the year? a. None of the rental income is reported b. Expenses must be divided between personal use and rental use c. Real estate taxes are treated as an itemized deduction d. Casualty losses are only deductible if the taxpayer itemizes deductions e. All of the above apply A couple who fi les a joint tax return has $120,000 of AGI before considering a $40,000 loss from rental real estate activities in which they actively participate. What amount of loss must they carryover to the next year? a. $0 b. $10,000 c. $15,000 d. $25,000 e. None of the above What is the maximum number of days that a taxpayers home can be rented during the year to avoid having to report any of the rental income? a. 7 b. 8 c. 10 d. 14 e. 15 A taxpayer fi les separately from his spouse. Th e maximum amount that he can take as a special deduction for active participation in a rental real estate activity is: a. $0. b. $10,000. c. $12,500. d. $25,000. e. $37,500. In order to meet the material participation test for a rental real estate activity, over what number of hours of personal service must the taxpayer must work in rental real estate during the year? a. 100 b. 250 c. 500 d. 750 e. 1,000