Question 1

Which one of the following provisions was passed by Congress to meet a social goal of the tax law?

Accepted Answer

A) The deduction for job hunting expenses. 
B) The charitable deduction. 
C) The moving expense deduction for adjusted gross income. 
D) The deduction for soil and water conservation costs available to farmers. 
E) None of the above. 
A) The deduction for job hunting expenses. 
B) The charitable deduction. 
C) The moving expense deduction for adjusted gross income. 
D) The deduction for soil and water conservation costs available to farmers. 
E) None of the above.

Question 2

Brian is 60 years old, single, and legally blind.Brian supports his father, who is 88 years old and blind, by paying the rent and other costs of his father's residence.What is the total standard deduction amount that Brian should claim on his 2018 tax return?

Accepted Answer

A) $18,000 
B) $24,000 
C) $19,600 
D) $13,600 
E) None of the above 
A) $18,000 
B) $24,000 
C) $19,600 
D) $13,600 
E) None of the above

Question 3

Your standard deduction will be $12,000 in 2018 if you are:

Accepted Answer

A) Single and 67 years old. 
B) Single and 45 years old. 
C) Single, 27 years old, and blind. 
D) A nonresident alien. 
E) A married individual filing a separate return and your spouse itemizes his deductions. 
A) Single and 67 years old. 
B) Single and 45 years old. 
C) Single, 27 years old, and blind. 
D) A nonresident alien. 
E) A married individual filing a separate return and your spouse itemizes his deductions.

Question 4

Melissa is a 35-year-old single taxpayer with adjusted gross income of $49,600.She uses the standard deduction and has no dependents.
a.Calculate Melissa's 2018 taxable income.Please show your work.
b.When you calculate Melissa's tax liability, are you required to use the tax tables or the tax rate schedules, or does it matter?
c.What is Melissa's tax liability?

Accepted Answer

a.$37,600 = $49,600 − $12,000

Question 5

For taxpayers who do not itemize deductions, the standard deduction amount is subtracted from the taxpayer's adjusted gross income.

Accepted Answer

A) True 
 B)False

Question 6

Albert and Louise, ages 66 and 64, respectively, filed a joint return for 2018.They provided all of the support for their blind 19-year-old son, who had no gross income.They also provided the total support of Louise's father, who is a citizen and life-long resident of Peru.What is the amount of the credit for other dependents that Albert and Louise can claim?

Accepted Answer

A) $0 
B) $500 
C) $1,000 
D) $2,000 
E) None of the above 
A) $0 
B) $500 
C) $1,000 
D) $2,000 
E) None of the above

Question 7

Which of the following taxpayers does not have to file a tax return for 2018?

Accepted Answer

A) A single taxpayer who is under age 65, with income of $13,500. 
B) Married taxpayers (ages 45 and 50 years), filing jointly, with income of $26,000. 
C) A student, age 22, with unearned income of $2,500 who is claimed as a dependent by her parents. 
D) A qualifying widow (age 67) with a dependent child and income of $18,800. 
E) All of the above. 
A) A single taxpayer who is under age 65, with income of $13,500. 
B) Married taxpayers (ages 45 and 50 years), filing jointly, with income of $26,000. 
C) A student, age 22, with unearned income of $2,500 who is claimed as a dependent by her parents. 
D) A qualifying widow (age 67) with a dependent child and income of $18,800. 
E) All of the above.

Question 8

The US federal tax law's sole purpose is to raise revenue.

Accepted Answer

A) True 
 B)False

Question 9

A single taxpayer, who is not a dependent on another's return, not blind and under age 65, with income of $11,750 must file a tax return.

Accepted Answer

A) True 
 B)False

Question 10

A taxpayer who maintains a household with an unmarried child may qualify to file as head of household even if the child is not the taxpayer's dependent.

Accepted Answer

A) True 
 B)False

Question 11

A married person with a dependent child may choose to file as head of household if it reduces his or her tax liability.

Accepted Answer

A) True 
 B)False

Question 12

Mark a "Yes" to each of the following that can be found on the IRS Web site.If not, mark with a "No."
a.A list of IRS forms.
b.A search function.
c.Advice on how to avoid paying taxes.
d.Ways to contact the IRS.

Accepted Answer

a.Yes
b.Ye

Question 13

If a taxpayer is due a refund, it will be mailed to the taxpayer regardless of whether he or she files a tax return.

Accepted Answer

A) True 
 B)False

Question 14

George, age 67, and Linda, age 60, are married taxpayers with three dependent children.Their adjusted gross income for the 2018 tax year is $142,000.They have itemized deductions of $24,000.Determine the following for their joint tax return for 2018:​
a.Exemption deduction amount
b.The greater of the amount of their standard deduction or their itemized deductions
c.Taxable income

Accepted Answer

​
a.$0
b.$25,300 ($2

Question 15

Curt and Linda were married on December 31 of the prior year.What are their options for filing status for their prior year taxes?

Accepted Answer

They may file either as marrie

Question 16

Mark each of the following as a taxable entity, a reporting entity, or both:
a.Individuals
b.Corporations
c.Partnerships

Accepted Answer

a.Taxable and report

Question 17

Married taxpayers may double their standard deduction amount by filing separate returns.

Accepted Answer

A) True 
 B)False

Question 18

A taxpayer with self-employment income of $600 must file a tax return.

Accepted Answer

A) True 
 B)False

Question 19

Match the letter of the filing status to the taxpayers below. Items may be used more than once.
a.Single
b.Married filing a joint return
c.Married filing separate returns
d.Head of household
e.Qualifying widow(er)
f.Married filing joint or married filing separate
-After living together for 6 months, the couple married on December 31.

Accepted Answer

The answer of Match the letter of the filing status...

Question 20

Match the letter of the filing status to the taxpayers below. Items may be used more than once.
a.Single
b.Married filing a joint return
c.Married filing separate returns
d.Head of household
e.Qualifying widow(er)
f.Married filing joint or married filing separate
-The taxpayer who is unmarried legally adopted a child who lives with her.

Accepted Answer

The answer of Match the letter of the filing status...

Which one of the following provisions was passed by Congress to meet a social goal of the tax law?

Brian is 60 years old, single, and legally blind.Brian supports his father, who is 88 years old and blind, by paying the rent and other costs of his father's residence.What is the total standard deduction amount that Brian should claim on his 2018 tax return?

Your standard deduction will be $12,000 in 2018 if you are:

For taxpayers who do not itemize deductions, the standard deduction amount is subtracted from the taxpayer's adjusted gross income.

Which of the following taxpayers does not have to file a tax return for 2018?

The US federal tax law's sole purpose is to raise revenue.

A single taxpayer, who is not a dependent on another's return, not blind and under age 65, with income of $11,750 must file a tax return.

A taxpayer who maintains a household with an unmarried child may qualify to file as head of household even if the child is not the taxpayer's dependent.

A married person with a dependent child may choose to file as head of household if it reduces his or her tax liability.

Mark a "Yes" to each of the following that can be found on the IRS Web site.If not, mark with a "No." a.A list of IRS forms. b.A search function. c.Advice on how to avoid paying taxes. d.Ways to contact the IRS.

If a taxpayer is due a refund, it will be mailed to the taxpayer regardless of whether he or she files a tax return.

Curt and Linda were married on December 31 of the prior year.What are their options for filing status for their prior year taxes?

Mark each of the following as a taxable entity, a reporting entity, or both: a.Individuals b.Corporations c.Partnerships

Married taxpayers may double their standard deduction amount by filing separate returns.

A taxpayer with self-employment income of $600 must file a tax return.

Gross Income and Exclusions

Additional Income Part 1

Additional Income Part 2

Deductions and Adjustments to Income

Accounting Methods and Taxes

Tax Credits

Depreciation and Sale of Business Property

Payroll, Estimated Payments, and Retirement Plans

Partnership Taxation

The Corporate Income Tax

Tax Administration and Tax Planning

Filters

Exam 1: The Individual Income Tax Return

Which one of the following provisions was passed by Congress to meet a social goal of the tax law?

Brian is 60 years old, single, and legally blind.Brian supports his father, who is 88 years old and blind, by paying the rent and other costs of his father's residence.What is the total standard deduction amount that Brian should claim on his 2018 tax return?

Your standard deduction will be $12,000 in 2018 if you are:

For taxpayers who do not itemize deductions, the standard deduction amount is subtracted from the taxpayer's adjusted gross income.

Which of the following taxpayers does not have to file a tax return for 2018?

The US federal tax law's sole purpose is to raise revenue.

A single taxpayer, who is not a dependent on another's return, not blind and under age 65, with income of $11,750 must file a tax return.

A taxpayer who maintains a household with an unmarried child may qualify to file as head of household even if the child is not the taxpayer's dependent.

A married person with a dependent child may choose to file as head of household if it reduces his or her tax liability.

Mark a "Yes" to each of the following that can be found on the IRS Web site.If not, mark with a "No." a.A list of IRS forms. b.A search function. c.Advice on how to avoid paying taxes. d.Ways to contact the IRS.

If a taxpayer is due a refund, it will be mailed to the taxpayer regardless of whether he or she files a tax return.

Curt and Linda were married on December 31 of the prior year.What are their options for filing status for their prior year taxes?

Mark each of the following as a taxable entity, a reporting entity, or both: a.Individuals b.Corporations c.Partnerships

Married taxpayers may double their standard deduction amount by filing separate returns.

A taxpayer with self-employment income of $600 must file a tax return.

Gross Income and Exclusions

Additional Income Part 1

Additional Income Part 2

Deductions and Adjustments to Income

Accounting Methods and Taxes

Tax Credits

Depreciation and Sale of Business Property

Payroll, Estimated Payments, and Retirement Plans

Partnership Taxation

The Corporate Income Tax

Tax Administration and Tax Planning

Filters