Questions from General Taxation

Q: What are the qualifications to be eligible for a Health Savings Account

What are the qualifications to be eligible for a Health Savings Account (HSA) deduction?

Q: Explain the three tests associated with deductibility of moving expenses.

Explain the three tests associated with deductibility of moving expenses.

Q: Describe the types of expenses that can be deducted for moving expenses

Describe the types of expenses that can be deducted for moving expenses.

Q: A taxpayer incurs moving expenses in conjunction with a job-related

A taxpayer incurs moving expenses in conjunction with a job-related move that meets the distance test. At the end of the year, the taxpayer has not yet met the time test. Under what circumstances can...

Q: Explain why self-employed taxpayers generally pay double the amount of

Explain why self-employed taxpayers generally pay double the amount of FICA taxes that regular wage earners do.

Q: Explain the two limitations associated with the deduction for health insurance by

Explain the two limitations associated with the deduction for health insurance by self-employed individuals.

Q: What is meant by a penalty on early withdrawal of savings,

What is meant by a penalty on early withdrawal of savings, and under what circumstances is it deductible?

Q: Define alimony, child support, and property settlement.

Define alimony, child support, and property settlement.

Q: What is the difference between deductions from AGI and deductions for AGI

What is the difference between deductions from AGI and deductions for AGI?

Q: Chantel has received a 1099-INT from her financial institution showing

Chantel has received a 1099-INT from her financial institution showing $75 in box 2 of the form. How should she handle this on her 2017 tax return and why?