Homework Answers
1) b. General area of your place of business
Tax home is locality of individual's primary place of business.It is city where his primary place of employment is located regardless of his place of residence
2) a. Non cash property settlement
Non cash property settlement is not consider as payment of alimony
3) d) Gordy cannot claim any losses in 2018 and must carry forward all $34000 in 2019
Passive activity losses can be set off against passive income only
4) A) When all basis of has been depreciated and B) When asset is no longer used for the business
Basic requirement for depreciation is that the asset must be owned and should be used for purpose of the business
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