Vanessa owns a houseboat on lake las vegas that she personally uses for 25 days out of the year and rents for 280 days. for tax purposes, the houseboat is classified asa) neither a residence nor rental property. because it is rented a nominal number of personal use days, both revenue and expenses (other than those otherwise allowable) are ignored. b) rental property. expenses in excess of income may be deducted although net income or loss is subject to the passive activity rules. c) property that is treated as a hobby which gives rise to from agi deductions only. d) a combination of the taxpayer's residence and rental property. the deduction for expenses is limited to the amount of income generated by the property

1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.