Questions from General Taxation


Q: Discuss the limits on home office expense deductibility.

Discuss the limits on home office expense deductibility.

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Q: Why were the hobby loss rules established? What factors determine whether

Why were the hobby loss rules established? What factors determine whether an activity is a trade or business or a hobby? Is any one factor controlling?

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Q: What is the maximum annual contribution that can be made to a

What is the maximum annual contribution that can be made to a traditional IRA, and how is the maximum calculated?

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Q: What is the maximum annual contribution that can be made to a

What is the maximum annual contribution that can be made to a SIMPLE plan, and how is the maximum calculated?

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Q: What is the maximum annual contribution that can be made to a

What is the maximum annual contribution that can be made to a Roth IRA, and how is the maximum calculated?

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Q: Anne, a single taxpayer under age 50, has wage income

Anne, a single taxpayer under age 50, has wage income of $74,000 and is not covered under a retirement plan by her employer. She would like to start a retirement plan if possible. What options are a...

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Q: Briefly discuss the conditions necessary for a taxpayer to be permitted to

Briefly discuss the conditions necessary for a taxpayer to be permitted to make tax-deductible contributions to a traditional IRA.

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Q: Tax-free distributions from a Coverdell Education Savings Account can be

Tax-free distributions from a Coverdell Education Savings Account can be used for what purpose? Be specific.

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Q: Stan has $20,000 in a traditional IRA at a

Stan has $20,000 in a traditional IRA at a bank. He decided to change trustees from a bank to a financial services firm. He requests, and receives, a check from the bank that he intends to take to t...

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Q: What factors affect the taxability of capital gains and losses?

What factors affect the taxability of capital gains and losses?

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