A) requires official tax forms be obtained at the local IRS office. B) links to the H & R Block Web site. C) provides information on how to choose a stock. D) has an app for mobile phones. A) requires official tax forms be obtained at the local IRS office. B) links to the H & R Block Web site. C) provides information on how to choose a stock. D) has an app for mobile phones.

Exam 1: The Individual Income Tax Return

Madeline is single and supports her 85-year-old parents who live in a senior home paid for by Madeline and have no income. What is Madeline's filing status and why?

(Essay)

4.7/5

(79)

Question 101

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

(Essay)

4.8/5

(71)

Question 102

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

(True/False)

4.8/5

(78)

Question 103

Karl's father, Vronsky, is a 60-year-old Russian citizen who lived in Russia for the full year. Karl supported Vronsky while he looked for work. Vronsky had no income. Can Karl claim Vronsky as a dependent?

(Essay)

4.8/5

(64)

Question 104

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

(True/False)

4.7/5

(75)

Question 105

All of the following factors are important in determining whether an individual is required to file an income tax return, except:

(Multiple Choice)

4.8/5

(72)

Question 106

Which of the following is not a goal of the tax law?

(Multiple Choice)

4.9/5

(81)

Question 107

Jessica, a 17-year-old guitarist in a successful band, earns $100,000 a year and is completely self-supporting although she lives with her parents. Can her parents claim her as a dependent? Why or why not?

(Essay)

4.8/5

(88)

Question 108

Ronald is 92 years old and in poor health. Clever investing earlier in his life has left him with a sizeable income. He is able to support his son Ed. Ed is 67 years old and a bit "confused," so he lives in a nursing home. Ed's income is less than $2,000. How many exemptions should Ronald claim on his tax return?

(Multiple Choice)

4.7/5

(78)

Question 109

Which of the following is not a test that must be met for a child to be considered a dependent?

(Multiple Choice)

4.9/5

(98)

Question 110

Match the letter of the filing status to the taxpayers below. Items may be used more than once. -The taxpayer who is unmarried legally adopted a child who lives with her.

(Multiple Choice)

4.9/5

(76)

Question 111

List if a form is used for an individual, a corporation, or a partnership tax return. a.Form 1065 b.Schedule A, Itemized Deductions c.Form 1040 d.Form 1120 e.Schedule B, Interest and Dividends

(Essay)

4.8/5

(79)

Question 112

A child for whom a dependency exemption is claimed on the parents' tax return may also claim a personal exemption on his or her own tax return.

(True/False)

4.9/5

(73)

Question 113

Match the letter of the filing status to the taxpayers below. Items may be used more than once. -After living together for 6 months, the couple married December 31.

(Multiple Choice)

4.9/5

(93)

Question 114

If an individual wishes to amend his individual tax return, he will make the amendment using what form?

(Multiple Choice)

4.8/5

(73)

Question 115

Eugene and Velma are married. For 2016, Eugene earned $25,000 and Velma earned $30,000. They have decided to file separate returns and are each entitled to claim one personal exemption. They have no deductions for adjusted gross income. Eugene's itemized deductions are $11,200 so he is going to itemize. Velma's itemized deductions are $4,000. Assuming Eugene and Velma do not live in a community property state, what is Velma's taxable income?

(Multiple Choice)

4.8/5

(85)

Question 116

What is the formula for computing taxable income, as summarized in the text?

(Essay)

4.8/5

(86)

Question 117

The IRS:

(Multiple Choice)

4.9/5

(91)

Question 118

The 0.9 percent ACA Medicare surtax applies to:

(Multiple Choice)

4.9/5

(86)

Question 119

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

(True/False)

4.9/5

(69)

Question 120

Showing 101 - 120 of 128

Madeline is single and supports her 85-year-old parents who live in a senior home paid for by Madeline and have no income. What is Madeline's filing status and why?

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

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

Karl's father, Vronsky, is a 60-year-old Russian citizen who lived in Russia for the full year. Karl supported Vronsky while he looked for work. Vronsky had no income. Can Karl claim Vronsky as a dependent?

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

All of the following factors are important in determining whether an individual is required to file an income tax return, except:

Which of the following is not a goal of the tax law?

Jessica, a 17-year-old guitarist in a successful band, earns $100,000 a year and is completely self-supporting although she lives with her parents. Can her parents claim her as a dependent? Why or why not?

Which of the following is not a test that must be met for a child to be considered a dependent?

Match the letter of the filing status to the taxpayers below. Items may be used more than once. -The taxpayer who is unmarried legally adopted a child who lives with her.

List if a form is used for an individual, a corporation, or a partnership tax return. a.Form 1065 b.Schedule A, Itemized Deductions c.Form 1040 d.Form 1120 e.Schedule B, Interest and Dividends

A child for whom a dependency exemption is claimed on the parents' tax return may also claim a personal exemption on his or her own tax return.

Match the letter of the filing status to the taxpayers below. Items may be used more than once. -After living together for 6 months, the couple married December 31.

If an individual wishes to amend his individual tax return, he will make the amendment using what form?

What is the formula for computing taxable income, as summarized in the text?

The IRS:

The 0.9 percent ACA Medicare surtax applies to:

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

Gross Income and Exclusions

Business Income and Expenses Part I

Business Income and Expenses Part II

Itemized Deductions and Other Incentives

Credits and Special Taxes

Accounting Periods and Methods and Depreciation

Capital Gains and Losses

Withholding Estimated Payments and Payroll Taxes

Partnership Taxation

The Corporate Income Tax

Tax Administration and Tax Planning

Filters