Question 1

The amount of self-employed health insurance premiums that could be deductible as a for AGI deduction is:

Accepted Answer

A) 100%. 
B) 80%. 
C) 70%. 
D) 50%. 
A) 100%. 
B) 80%. 
C) 70%. 
D) 50%.

Question 2

What is the amount of self-employment tax that self-employed individuals must pay and what is the proper treatment on their tax return?

Accepted Answer

Self-employed individuals normally pay s

Question 3

The determination for the deduction of the self-employment tax is based upon the:

Accepted Answer

A) net earnings of the business. 
B) gross earnings of the business. 
C) total of 7.65% of FICA taxes. 
D) total of itemized deductions. 
A) net earnings of the business. 
B) gross earnings of the business. 
C) total of 7.65% of FICA taxes. 
D) total of itemized deductions.

Question 4

Under a divorce agreement executed in 2017,periodic payments of either cash or property must be made at regular intervals to be deductible as alimony.

Accepted Answer

A) True 
 B)False

Question 5

Shanika is a self-employed hair stylist and had net earnings from self-employment of $4,100.She paid $375 per month for health insurance over the last year.Shanika is entitled to a for AGI deduction for health insurance premiums of:

Accepted Answer

A) $0. 
B) $4,100. 
C) $375. 
D) $4,500. 
A) $0. 
B) $4,100. 
C) $375. 
D) $4,500.

Question 6

What percentage of medical insurance premium payments could be deductible by self-employed taxpayers as a deduction for adjusted gross income on their 2017 tax returns?

Accepted Answer

A) 0%. 
B) 50%. 
C) 75%. 
D) 100%. 
A) 0%. 
B) 50%. 
C) 75%. 
D) 100%.

Question 7

If a divorce agreement executed in 2017 specifies that a portion of the amount of an alimony payment is contingent upon the status of a child,that portion is considered to be a child support payment.

Accepted Answer

A) True 
 B)False

Question 8

For a taxpayer to be eligible to deduct moving expenses,in addition to the employment test,he or she:

Accepted Answer

A) Must meet either the time or distance test. 
B) Must meet the distance test. 
C) Must meet the time test. 
D) Must meet both the time and distance test. 
A) Must meet either the time or distance test. 
B) Must meet the distance test. 
C) Must meet the time test. 
D) Must meet both the time and distance test.

Question 9

What is a Health Savings Account (HSA)?

Accepted Answer

A Health Savings Account (HSA)

Question 10

The goal of the alimony recapture rules is to properly define the substance of payments made to a former spouse in order to ensure proper tax treatment.These rules "lookback" to the following years for the calculation:

Accepted Answer

A) Years 1 and 2. 
B) Years 3 and 4. 
C) Years 1 through 3. 
D) Years 4 through 6. 
A) Years 1 and 2. 
B) Years 3 and 4. 
C) Years 1 through 3. 
D) Years 4 through 6.

Question 11

The educator expense deduction is available to community college and university professors.

Accepted Answer

A) True 
 B)False

Question 12

What are the two limitations associated with the deduction for health insurance for self-employed individuals?

Accepted Answer

First,the deduction cannot exceed net ea

The amount of self-employed health insurance premiums that could be deductible as a for AGI deduction is:

What is the amount of self-employment tax that self-employed individuals must pay and what is the proper treatment on their tax return?

The determination for the deduction of the self-employment tax is based upon the:

Under a divorce agreement executed in 2017,periodic payments of either cash or property must be made at regular intervals to be deductible as alimony.

Shanika is a self-employed hair stylist and had net earnings from self-employment of $4,100.She paid $375 per month for health insurance over the last year.Shanika is entitled to a for AGI deduction for health insurance premiums of:

What percentage of medical insurance premium payments could be deductible by self-employed taxpayers as a deduction for adjusted gross income on their 2017 tax returns?

If a divorce agreement executed in 2017 specifies that a portion of the amount of an alimony payment is contingent upon the status of a child,that portion is considered to be a child support payment.

For a taxpayer to be eligible to deduct moving expenses,in addition to the employment test,he or she:

What is a Health Savings Account (HSA)?

The goal of the alimony recapture rules is to properly define the substance of payments made to a former spouse in order to ensure proper tax treatment.These rules "lookback" to the following years for the calculation:

The educator expense deduction is available to community college and university professors.

What are the two limitations associated with the deduction for health insurance for self-employed individuals?

Introduction to Taxation, the Income Tax Formula, and Form 1040EZ

Expanded Tax Formula, forms 1040A and 1040, and Basic Concepts

Gross Income: Inclusions and Exclusions

Itemized Deductions

Self-Employed Business Income Line 12 of Form 1040 and Schedule C

Capital Gains and Other Sales of Property Schedule D and Form 4797

Rental Property, Royalties, and Income From Flow- Through Entities Line 17, form 1040, and Schedule E

Tax Credits Form 1040,lines 48 Through 54 and Lines 66A Through 73

Payroll Taxes

Retirement and Other Tax-Deferred Plans and Annuities

Special Property Transactions

At-Riskpassive Activity Loss Rules and the Individual Alternative Minimum Tax

Partnership Taxation

Corporate Taxation

Filters

Exam 4: Adjustments for Adjusted Gross Income

The amount of self-employed health insurance premiums that could be deductible as a for AGI deduction is:

What is the amount of self-employment tax that self-employed individuals must pay and what is the proper treatment on their tax return?

The determination for the deduction of the self-employment tax is based upon the:

Under a divorce agreement executed in 2017,periodic payments of either cash or property must be made at regular intervals to be deductible as alimony.

Shanika is a self-employed hair stylist and had net earnings from self-employment of $4,100.She paid $375 per month for health insurance over the last year.Shanika is entitled to a for AGI deduction for health insurance premiums of:

What percentage of medical insurance premium payments could be deductible by self-employed taxpayers as a deduction for adjusted gross income on their 2017 tax returns?

If a divorce agreement executed in 2017 specifies that a portion of the amount of an alimony payment is contingent upon the status of a child,that portion is considered to be a child support payment.

For a taxpayer to be eligible to deduct moving expenses,in addition to the employment test,he or she:

What is a Health Savings Account (HSA)?

The goal of the alimony recapture rules is to properly define the substance of payments made to a former spouse in order to ensure proper tax treatment.These rules "lookback" to the following years for the calculation:

The educator expense deduction is available to community college and university professors.

What are the two limitations associated with the deduction for health insurance for self-employed individuals?

Introduction to Taxation, the Income Tax Formula, and Form 1040EZ

Expanded Tax Formula, forms 1040A and 1040, and Basic Concepts

Gross Income: Inclusions and Exclusions

Itemized Deductions

Self-Employed Business Income Line 12 of Form 1040 and Schedule C

Capital Gains and Other Sales of Property Schedule D and Form 4797

Rental Property, Royalties, and Income From Flow- Through Entities Line 17, form 1040, and Schedule E

Tax Credits Form 1040,lines 48 Through 54 and Lines 66A Through 73

Payroll Taxes

Retirement and Other Tax-Deferred Plans and Annuities

Special Property Transactions

At-Riskpassive Activity Loss Rules and the Individual Alternative Minimum Tax

Partnership Taxation

Corporate Taxation

Filters