Questions from General Taxation

Q: What is the purpose of the abandoned spouse provision?

What is the purpose of the abandoned spouse provision?

Q: Differentiate between an abandoned spouse and a surviving spouse.

Differentiate between an abandoned spouse and a surviving spouse.

Q: When would a taxpayer claim the standard deduction rather than itemizing deductions

When would a taxpayer claim the standard deduction rather than itemizing deductions?

Q: What are the characteristics of a qualified trade or business?

What are the characteristics of a qualified trade or business?

Q: How are deductions for expenses of rental property limited if the taxpayer

How are deductions for expenses of rental property limited if the taxpayer also uses the property as a vacation home?

Q: What are the passive activity loss rules and how do they affect

What are the passive activity loss rules and how do they affect the deductibility of losses from rental property?

Q: What are the requirements for a self-employed person to claim

What are the requirements for a self-employed person to claim a deduction for an office in the home? What are the additional requirements for an employee to take a home office deduction?

Q: What factors differentiate a hobby from an active business?

What factors differentiate a hobby from an active business?

Q: What is a statute of limitations? What is its significance to

What is a statute of limitations? What is its significance to taxpayers?

Q: Differentiate permanent differences and temporary differences. Provide examples of each.

Differentiate permanent differences and temporary differences. Provide examples of each.