Unless your answer choice is (e), which of the following is false? Answer (a) Ab

Question

Unless your answer choice is (e), which of the following is false?
Answer


(a) Absent a special election, an individual taxpayer can not choose to apply her 2012 net operating loss to 2011 if there is sufficient income in 2010 to entirely absorb the loss.

(b) Rental losses realized by a couple from their residential rental home will always be considered passive unless the husband or wife is an eligible real estate professional.

(c) An actively (not materially) participating husband and wife who have $1,000 of suspended passive losses from the prior year and $24,000 of current year real estate losses from their residential rental property will be able to deduct all $25,000 against their current year adjusted gross income of $99,000.

(d) A taxpayer has $10,000,000 of suspended passive activity losses due to a commercial rental activity coming into the current year; as long as the taxpayer disposes of that commercial rental property in the current year, then all $10,000,000 of those carryover losses can be deducted in the current year.

(e) None of the above is false.

Explanation / Answer

answer all are true statements (e) None of the above is false.

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