Use the tax research methodology to research the regulations

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IRS Code Section 280A provides guidance on what expenses are allowed on rental property and how to allocate those expenses.

Use the tax research methodology to research the regulations regarding rental income and expenses.

Describe your research findings.

Do you believe the allocations outlined in Code Section 280A are appropriate? Why or why not?

For taxpayers who own rental property, this could be a potential area used to reduce their taxable income. What are the ethical and legal ramifications of misusing the treatment of rental property expenses?

Support your answers with rationale and/or evidence.

Reference no: EM13490701

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