1. In the disposition of a part-rental/part-personal use property, under what circumstances would a taxpayer NOT need to allocate gain between the rental and personal part of the property?
1. The disposition is part of a nontaxable exchange.
2. The disposition is the result of foreclosure.
3. The rental part of the property was separate from the part used personally.
4. The taxpayer rented an extra bedroom within the residence.
2. How is the installment sale of an entire business reported on the tax return?
1. One Form 6252 reports the entire disposition.
2. Separate Forms 6252 are completed for each asset.
3. One Form 6252 is completed for the tangible assets, and another is completed for intangible assets.
4. Separate Forms 6252 are completed for each asset class and type.