With Respect to Residential Rental Property

question 28

Multiple Choice

With respect to residential rental property

• A)80% or more of the gross rental income from the building or structure must be rental income from dwelling units in order for it to be classified as residential rental property.
• B)hotels are not included in this category if less than half of the units are used on a transient basis.
• C)80% or more of the net rental income from the building or structure must be rental income from dwelling units in order for it to be classified as residential rental property.
• D)gain is not subject to the depreciation recapture provisions if the property is held more than one year.

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Definitions:

Urobilinogen

A substance formed from the reduction of bilirubin, found in the intestines, and can be excreted in the urine or feces, acting as an indicator of liver function.

Cirrhosis

A chronic liver disease marked by degeneration of liver tissue, often caused by long-term alcohol abuse or hepatitis infection.

Hypotension

A medical condition characterized by blood pressure that is lower than normal, which can cause symptoms like dizziness and fainting.

Strenuous Exercise

Physical activity that requires significant effort and energy, often leading to a high level of fatigue.