Question 1: All allowable investment expenses related to the "production of income" must be deducted on Form 1040 as ded

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Question 1:
All allowable investment expenses related to the "production of income" must be deducted on
Form 1040 as deductions "for" adjusted gross Income.
Question 2: Rather than use regular MACRS depreciation, a taxpayer may make a revocable election to applythe alternative MARS option to any class of property for any tax year and depreciate using thestraight-line or 150% declining method.
Question 2:
Rather than use regular MACRS depreciation, a taxpayer may make a revocable election to apply
the alternative MARS option to any class of property for any tax year and depreciate using the
straight-line or 150% declining method.
TRUE OR FALSE
BIG THUMB