Using the legend provided, classify each statement accordingly.

Question $22$ options:

Recapture of depreciation on real property can be more severe.

A limitation on business losses may apply $($through $2028).$

Excess capital losses can be carried over indefinitely.

A gain on an involuntary conversion cannot be deferred.

All of the appreciation on ordinary income property donated to charity can be claimed as a deduction.

A dividends received deduction is not available.

The allowable deduction for charitable contributions is subject to percentage limitations$.$

The concept of itemized deductions is not relevant.

Excess charitable contributions can be carried over for five years.

Excess long$-$term capital losses are carried forward as short$-$term capital losses.

The tax return is due on or before the fifteenth day of the fourth month following the end of the tax year.

$1.$

Applies only to the income taxation of individuals

$2.$

Applies only to the income taxation of C corporations

$3.$

Applies to both the income taxation of individuals and of C corporations

$4.$

Applies to neither the income taxation of individuals nor of C corporations