An example of an asset that is both personal-use andpersonal property is:

A.
A computer used solely to email company employees regarding companyactivities.

B.
A company airplane used by the CEO for business travel.

C.
All of the assets are personal-use and personal property.

D.
A computer used solely to monitor the CEO's investments and tocomplete her Form 1040.

E.
A storage building used by the CEO to store personal records.

Generally, which of the following does not correctlycategorize the type of income?

A.
Salary — active income/loss.

B.
All of the choices are correct.

C.
Rental real estate — passive income/loss.

D.
Dividends — portfolio income/loss.

E.
Capital losses — passive income/loss.

Answer rating: 100% (QA)

1Answer Option D A computer used solely to monitor the CEOs investment and to complete he... View the full answer