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:

Proposition

A statement or assertion that expresses a judgment or opinion, which can be analyzed as true or false.

Subalternate

In logic, a term referring to the relationship between a universal statement and its corresponding particular statement.

Disarmed

To remove weapons from a person, place, or military force, thereby reducing their capacity for violence or aggression.

Missiles

Guided military weapons designed to be launched into the air and strike a target at a distance.