Please answer questions for a full rating. Thank you. 23. The adjusted basis of...
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23. The adjusted basis of an asset may be determined by the: a. Selling price + gain realized. b. Selling price - gain realized. c. Selling price + capital improvements - accumulated depreciation. d. Original basis + capital improvements selling price. e. None of the above. 24. Which of the following is not a true statement regarding community property law? a. For a married couple living in California, income derived from separate property is taxable to the owner of the property. b. For a married couple living in Texas, income derived from separate property produces community income. c. In all community property states, the salary of married spouses is allocated one-half to each spouse. d. Colorado, Ohio, and Florida are community property states. e. Property acquired before marriage in a community property state continues to be separate property
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