FSU REE4204 EXAM 3 SIRMANS QUESTIONS WITH CERTIFIED ANSWERS – UPDATED!!
Depreciation is defined as a _______________ but not a cash outlay.
a. cash expense
b. tax deductible expense
c. production cost
d. part of your cash flow
e. none of the above - Answer-B
Residential income proper...
Depreciation is defined as a _______________ but not a cash outlay.
a. cash expense
b. tax deductible expense
c. production cost
d. part of your cash flow
e. none of the above - Answer-B
Residential income property is depreciated over:
a. 15 years
b . 3 0 years
c. 39 years
d. 27.5 years
e. 20 years - Answer-D
Tax law changes that would affect the value of real estate include:
a. changes in marginal rates (bracket rates)
b. changes in depreciation allowance
c. changes in capital gains rates
d. all of the above - Answer-D
Factors that affect the value of tax savings from depreciation include:
a. amount of depreciation
b. acceleration of depreciation
c. the marginal tax rate
d. all of the above - Answer-D
The Tax Act of 1993 raised the marginal tax rates on ordinary income to:
a. 28%
b. 39.6%
c. 51.8%
d. 42.5% - Answer-B
, A test that determines if the original issue discount (OID) rules apply is the:
a. time value of money test
b. adequacy of interest test
c. risk-return test
d. a and b
e. b and c - Answer-D
Loan discount points:
a. lower the effective yield to the lender
b. raise the effective yield to the lender
c. have no effect on the effective yield but raises the contract rate
d. none of the above - Answer-B
Generally, the capital loss limitation rule allows taxpayers to offset capital losses
against:
a. ordinary income
b. capital gains
c. passive gains
d. portfolio income - Answer-B
Income from a limited partnership is classified as:
a. active
b. passive
c. portfolio
d. deferred - Answer-B
For a real estate partnership investment the "at-risk" amount is:
a the investor's cash contribution
b tax basis of any property contributed
c. non-recourse debt borrowed from the partnership
d. a plus b plus c
e. a plus b - Answer-E
Alternative Minimum Tax rules were established in:
a. 1978
b. 1986
c. 1991
d. 1993
e. none of the above - Answer-A
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Perfectscorer. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R241,69. You're not tied to anything after your purchase.
