A taxpayer is considered to be a material participant in a significant participation activity if he or she spends at least 400 hours in the activity.
Answer the following statement true (T) or false (F)
False
Rationale: Under the 500-hour test, a taxpayer must devote more than 500 hours to an activity to meet the material participation standard. Further, the significant participation activity test does not apply because the aggregate participation does not exceed 500 hours.
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Indicate whether the statement is true or false.
A large percentage of the student body ______ an increase in student fees.?
A) ?favor B) ?favors
Stanovich Enterprises has 10-year, 12.0% semiannual coupon bonds outstanding. Each bond is now eligible to be called at a call price of $1,060. If the bonds are called, the company must replace them with new 10-year bonds. The flotation cost of issuing new bonds is estimated to be $45 per bond. How low would the yield to maturity on the new bonds have to be in order for it to be profitable to call the bonds today, i.e., what is the nominal annual "breakeven rate"?
A. 9.29% B. 9.78% C. 10.29% D. 10.81% E. 11.35%
The total dollar value of all goods and services produced by all people within the boundaries of a country is called
A. productivity. B. gross domestic product. C. gross national product. D. inflation factor. E. standard of living.