Negligence Is

question 21

Multiple Choice

Negligence is

• A)professional misconduct.
• B)unreasonable lack of skill.
• C)the failure to use care or skills that any caregiver in a similar situation might use.
• D)illegal or immoral conduct.

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Definitions:

Personal/Rental Property

Real estate that is used by the owner or rented out to others, can be subject to different tax treatments based on its use.

Personal Use

The use of property or resources for individual needs or activities not related to business or profit-making.

Schedule C

Schedule C is a tax form used by sole proprietors to report their business income and expenses to the IRS.

Schedule E

Used by taxpayers to report income and losses from rental property, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs.