Magic Corp., a regular C corporation, elected S corporation status at the beginning of the current calendar year. It had an asset with a basis of USD40,000 and a fair market value (FMV) of USD85,000 on January 1. The asset was sold during the year for USD95,000. Magic's corporate tax rate was 35%. What was Magic's tax liability as a result of the sale?

1 .贷记卡持卡人选择最低还款额方式用卡的，不再享受免息还款期待遇。(　　)

Y 对 N 错

题型: 判断题 提问时间: 2021-08-24

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2 .Assuming the tax law in effect for 2015,which of the following may be offset against the calculated amount of tentativeestate tax to determine the estate tax payable with the estate tax return? Applicable credit Prior gift taxes paid

A No； Yes B Yes； No C No； No D Yes； Yes

题型: 单选题 提问时间: 2021-08-24

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3 .Within how many months after the date of a decedent's death is the federal estate tax return (Form 706) due if no extension of time for filing is granted?

A 32 B 42 C 6 D 9

题型: 单选题 提问时间: 2021-08-24

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4 .Pat created a trust, transferred property to this trust, and retained certain interests. For income tax purposes, Pat was treated as the owner of the trust. Pat has created which of the following types of trusts?

A Pre-need funeral. B Complex. C Simple. D Grantor.

题型: 单选题 提问时间: 2021-08-24

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5 .Davis, Inc. has had an average annual gross receipts of USD8.5 million during Years 1 through 3. During Year 4, Davis pays USD9,250 for repairs and improvements on a building it owns with an unadjusted basis of USD700,000. The costs do not qualify as routine maintenance. Under the safe harbor rules, how much can Davis deduct as repairs and maintenance in Year 4?

A USD0 B USD9,250 C USD5,000 D USD500

题型: 单选题 提问时间: 2021-08-24

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7 .Bristol Corp. was formed as a C corporation on January 1, Year 1, and elected S corporation status on January 1, Year 3. At the time of the election, Bristol had accumulated C corporation earnings and profits, which have not been distributed. Bristol has had the same 25 shareholders throughout its existence. In Year 6, Bristol's S election will terminate if it:

A Adds a decedent's estate as a shareholder to the existing shareholders. B Increases the number of shareholders to 100. C Has passive investment income exceeding 90% of gross receipts in each of the three consecutive years ending December 31, Year 5. D Takes a charitable contribution deduction.

题型: 单选题 提问时间: 2021-08-24

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8 .Stahl, an individual, owns 100% of Talon, an S corporation. At the beginning of the year, Stahl's basis in Talon was USD65,000. Talon reported the following items from operations during the current year:Ordinary lossUSD10,000Municipal interest income6,000Long-term capital gain4,000Short-term capital loss9,000What was Stahl's basis in Talon at year-end?

A USD55,000 B USD56,000 C USD50,000 D USD61,000

题型: 单选题 提问时间: 2021-08-24

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9 .Beck Corp. has been a calendar-year S corporation since its inception on January 2, Year 1. On January 1, Year 4, Lazur and Lyle each owned 50% of the Beck stock, in which their respective tax bases were USD12,000 and USD9,000. For the year ended December 31, Year 4, Beck had USD81,000 in ordinary business income and USD10,000 in tax-exempt income. Beck made a USD51,000 cash distribution to each shareholder on December 31, Year 4. What was Lazur's tax basis in Beck after the distribution?

A USD52,500 B USD6,500 C USD57,500 D USD1,500

题型: 单选题 提问时间: 2021-08-24

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10 .根据企业所得税法律制度的规定，下列不属于企业所得税纳税人的是（　　）。

A 事业单位 B 从事经营活动的其他组织 C 社会团体 D 个人独资企业

题型: 单选题 提问时间: 2021-08-24

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