Listed Property Rules Include the Following

question 50

Multiple Choice

Listed property rules include the following:
I.If listed property is not predominantly used in the taxpayer's business,the business-use portion of the asset cannot be depreciated.
II.If more than 50 percent of the listed property's total use for each year is related to the taxpayer's business,the asset is treated the same as any other mixed-use business asset.
III.When listed property is used 50% or less in the taxpayer's business,the Section 179 expense election does not apply to the asset.
IV.Listed property includes computers,and passenger automobiles.
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• A)Statements I and III are correct.
• B)Only statement IV is correct.
• C)Statements II and III are correct.
• D)Statements II,III,and IV are correct.
• E)Statements I,II,III,and IV are correct.

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Definitions:

Aerobic Respiration

A metabolic process in cells that uses oxygen to convert glucose into energy, producing water and carbon dioxide as byproducts.

Oxygen

A chemical element with the symbol O, essential for respiration in most living organisms and for combustion processes.

Glycolysis

A metabolic pathway that breaks down glucose to pyruvate, producing energy in the form of ATP and NADH, under aerobic or anaerobic conditions.

Continuous Supply

Uninterrupted provision or availability of a particular resource or commodity over a period of time.