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Vacation home rules apply to which of the following taxpayers? Mercy rented her beach house to tenants for 210 days during the year for fair rental value. She used the beach house herself for 45 days during the year. Tom bought a new home. He converted hi...

Lauren had wages of $63,600 as a full-time employee in 2024. She procrastinated and did not file her tax return until July 29, 2025. She did not request an extension of time to file. Her return showed a balance due of $1,000. What amount will the IRS impo...

Elizabeth moved from Florida to Louisiana on June 12, 2024. Every three months, $52 of interest income was credited to her savings account on the dates listed below: March 1, 2024 June 1, 2024 September 1, 2024 December 1, 2024 Before moving to Louisiana,...

Jackie purchased a home for $750,000. She then added a swimming pool costing $35,000 and a patio deck costing $18,000. What is Jackie's adjusted basis in the property? $750,000 $768,000 $785,000 $803,000