A Taxpayer Wishes to Assert a Tax Position Concerning the Deductibility

question 25

Multiple Choice

A taxpayer wishes to assert a tax position concerning the deductibility of mortgage interest on a home that is partially used for business and partially used as a vacation home.This tax position satisfies the "substantial authority" standard.This taxpayer ordinarily may assert this tax position:

• A) Only if advance written permission is obtained from the IRS
• B) Only if the position is prominently disclosed on the face of the taxpayer's tax return
• C) Only if the position is prominently disclosed in a written statement attached to the front of the taxpayer's tax return
• D) Without special conditions or disclosures

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Definitions:

National Catholic Welfare Council

A prominent organization within the Catholic Church in the United States, focusing on social service, education, and humanitarian outreach.

Anti-Defamation League

An organization dedicated to fighting anti-Semitism, racism, and other forms of bigotry, advocating for the fair treatment of all individuals.

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