Tax court method of allocating rental property expenses

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Reference no: EM131900758

1. What is the Tax Court method of allocating rental property expenses?

A) All expenses allocated as a percentage of rental-use days to total days owned.

B) All expenses allocated as a percentage of rental-use days to days used for all purposes.

C) Mortgage interest, qualified mortgage insurance premiums, real estate taxes, and casualty losses allocated as a percentage of rental-use days to total days owned during the year.

D) Mortgage interest and real estate taxes allocated as percentage of rental-use days to total days used.

2. A sole proprietor with a tentative loss may deduct which of the following for qualified business-use-of-home expenses? *

A) Depreciation.

B) Mortgage interest.

C) Rent.

D) Utilities.

Reference no: EM131900758

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