1 rents received as payment for use of real estate in which, Ask an Expert

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1. Rents received as payment for use of real estate in which personal services are provided as an incidental part of a real estate dealer's business are:

a) Farm income, reported on Schedule F.

b) Not-for-profit income, reported on Form 1040, line 21.

c) Investment income, reported on Schedule E.

d) Business earned income, reported on Schedule C.

2. Which taxpayer is NOT able to deduct NOLs incurred by its entity?

a) A shareholder in a C corporation.

b) A partner in a partnership.

c) A partner in an LLC.

d) A sole proprietor.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92739352

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