Test Bank SWFT Comprehensive INVESTOR LOSSES.docVIP

CHAPTER 11 INVESTOR LOSSES Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Learning Objective, Level of Difficulty, Estimated Time to Completion, and the AACSB’s and AICPA’s Core Competencies for each test item are located within the item itself. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 At-risk limitation New 2 At-risk increases and decreases Unchanged 2 3 Disallowed losses due to at-risk rule Unchanged 3 4 At-risk and debt Unchanged 4 5 At-risk and recapture of losses Unchanged 5 6 Sale of passive activity with suspended loss New 7 Sale of passive activity: use of suspended credits Unchanged 7 8 Passive loss rules: personal service corporation Unchanged 8 9 Passive loss rules: personal service corporation Unchanged 9 10 Passive loss rules: closely held C corporation Unchanged 10 11 Passive loss rules: closely held C corporation Unchanged 11 12 Passive or active: two activities New 13 Passive or active: two activities Unchanged 13 14 Material participation: 500-hour test New 15 Material participation hours Unchanged 15 16 Material participation hours Unchanged 16 17 Material participation: significant participation test New 18 Hours of participation: significant participation Unchanged 18 19 Hours of participation: significant participation Unchanged 19 20 Participation defined Unchanged 20 21 Hours of participation: spousal participation Unchanged 21 22 Hours of participation: spousal participation Unchanged 22 23 Material participation: activity not treated as rental Unchanged 23 24 Active participation in real estate rental activity New 25 Real estate rental exception New 26 Services of employee in real estate business Unchan