TRUE OR FALSE
Question 1:
Under the basic MACRS convention, a machine disposed of during the year is deemed to have been disposed of on the last day of the year of actual disposition.
Question 2:
You reimbursed employee business expenses may be deducted only by an individual who itemizes his/her deductions.
Question 3:
During the same year, spouses Sam and Mary died simultaneously in an automobile accident. Federal income tax rules will prohibit the filling of a joint form 1040 for them for the year of death.