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Question 3 The basis of property must be reduced by the amount of any casualty...

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Accounting

Question 3 The basis of property must be reduced by the amount of any casualty loss deducted. Question 3 options: 1) True 2) False

Question 4 All interest payments in the following category are never deductible for tax purposes:

Question 4 options:

1) Qualified residence interest expense

2) Personal credit card interest expense

3) Investment interest expense

4) Trade or business interest expense

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