题目内容

If a sole proprietorship has a net operating loss for the current period, the loss can only be used to offset other business income in the current year.Any current loss can be carried back three years and forward five years and used to offset business income in those years.()

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The Nadal Company mails its annual dividend check on December 31.Even when the shareholders receive their check in the following year, they must report the income in the year the check was written and mailed.()

The earlier the depreciation deduction can be taken, the greater the present value of the tax savings will be to the taxpayer.()

For a taxpayer to be engaged in a trade or business, the activity must meet all of the following tests: it must produce a profit every year; must be continuous and regular activity; and must be the taxpayer's livelihood not their hobby.()

Once a corporation is formed, an exchange of the corporation's stock for property is always a nontaxable event.()

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