A Taxpayer Is a Licensed Contractor Who Repairs Defective Electrical

question 5

Multiple Choice

A taxpayer is a licensed contractor who repairs defective electrical wiring in building elevators.She wishes to assert a tax position concerning the deductibility of depreciation expense on a home garage where she stores tools used in conducting her profession.Her tax position satisfies the "reasonable basis" standard.This taxpayer ordinarily may:

• A) Assert this tax position only if advance written permission is obtained from the IRS
• B) Assert this tax position only if the position is prominently disclosed to the IRS
• C) Not assert this tax position
• D) Without special conditions or disclosures

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Definitions:

Factory Town

A settlement where the main source of employment and community life centers around manufacturing plants or factories.

Voluntary Manumission

The act of a slave owner freeing their slaves of their own volition, without external compulsion, a practice that varied in its frequency and conditions throughout history.

Plantation Crop

A type of crop specifically grown on a large estate or plantation, primarily for sale and not for local consumption, typically including commodities like tobacco, cotton, sugar, and tea.

Slave Rebellions

Acts of violent resistance by enslaved people against their enslavers, often aimed at securing freedom or protesting inhumane conditions.