A Individual taxpayer net operating losses. B Passive activity losses. C Deductible medical expenses. D Deductible contributions to individual retirement accounts.

题型: 单选题提问时间: 2021-08-24

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4 .On their joint tax return, Sam and Joann, who are both over age 65, had adjusted gross income (AGI) of USD150,000 and claimed the following itemized deductions:Interest of USD15,000 on a USD100,000 home equity loan to purchase a motor homeReal estate tax and state income taxes of USD18,000Unreimbursed medical expenses of USD15,000 (prior to AGI limitation)Miscellaneous itemized deductions of USD5,000 (prior to AGI limitation)Based on these deductions, what would be the amount of AMT add-back adjustment in computing alternative minimum taxable income?

A USD 23,750 B USD 35,000 C USD 38,750 D USD 21,750

题型: 单选题提问时间: 2021-08-24

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5 .Which of the following may not be deducted in the computation of alternative minimum taxable income of an individual?

A Traditional IRA account contribution. B Charitable contributions. C Personal exemptions. D One-half of the self-employment tax deduction.

题型: 单选题提问时间: 2021-08-24

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7 .Krete, an unmarried taxpayer with income exclusively from wages, filed her initial income tax return for Year 8. By December 31, Year 8, Krete's employer had withheld USD16,000 in federal income taxes and Krete had made no estimated tax payments. On April 15, Year 9, Krete timely filed an extension request to file her individual tax return and paid USD300 of additional taxes. Krete's Year 8 income tax liability was USD16,500 when she timely filed her return on April 30, Year 9, and paid the remaining income tax liability balance.What amount would be subject to the penalty for the underpayment of estimated taxes?

A USD 16,500 B USD 500 C USD 200 D USD 0

题型: 单选题提问时间: 2021-08-24

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8 .Chris Baker's adjusted gross income on her current year tax return was USD160,000. The amount covered a 12-month period. For the next tax year, Baker may avoid the penalty for the underpayment of estimated tax if the timely estimated tax payments equal the required annual amount of:I.90% of the tax on the return for the current year paid in four equal installments.II.110% of prior year's tax liability paid in four equal installments.

A I only. B Neither I nor II. C II only. D Both I and II.

题型: 单选题提问时间: 2021-08-24

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9 .A claim for refund of erroneously paid income taxes, filed by an individual before the statute of limitations expires, must be submitted on Form:

A 1040X B 1139 C 1045 D 843

题型: 单选题提问时间: 2021-08-24

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10 .A calendar-year taxpayer files an individual tax return for Year 2 on March 20, Year 3. The taxpayer neither committed fraud nor omitted amounts in excess of 25% of gross income on the tax return. What is the latest date that the Internal Revenue Service can assess tax and assert a notice of deficiency?

A March 20, Year 5. B March 20, Year 6. C April 15, Year 5. D April 15, Year 6.

题型: 单选题提问时间: 2021-08-24

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