Questions from General Taxation

Q: To meet the distance test, the new job location must be

To meet the distance test, the new job location must be: a. 100 miles from the old job location. b. At least 50 miles farther than the old residence was from the old job location. c. At least 50 mile...

Q: Under the alimony recapture rules, what amounts are designated for recapture

Under the alimony recapture rules, what amounts are designated for recapture reclassification, and what are the tax consequences?

Q: The deduction for half of the self-employment tax is:

The deduction for half of the self-employment tax is: a. Based on a total of 7.65% of FICA taxes. b. Based on the gross earnings of the business. c. Based on filing status. d. Based on the net earnin...

Q: As a for AGI deduction, self-employed health insurance premiums

As a for AGI deduction, self-employed health insurance premiums are deductible at: a. 50%. b. 70%. c. 80%. d. 100%.

Q: Shana is a self-employed carpenter who had net earnings from

Shana is a self-employed carpenter who had net earnings from self-employment of $3,500. She paid $325 per month for health insurance over the last year. Shana is entitled to a for AGI deduction for...

Q: Penalties for the early withdrawal of savings are reported by the financial

Penalties for the early withdrawal of savings are reported by the financial institution on: a. Box 2 of Form 1099-INT. b. Form EWIP. c. A letter of notification. d. None of the above.

Q: Mia is required under a 2016 divorce decree to pay $600

Mia is required under a 2016 divorce decree to pay $600 of alimony and $300 of child support per month for 12 years. In addition, Mia makes a voluntary payment of $100 per month. How much of each to...

Q: The Renfros were granted a decree of divorce in 2016. In

The Renfros were granted a decree of divorce in 2016. In accordance with the decree, Josh Renfro is to pay his ex-wife $24,000 a year until their only child, Evelyn now 10, turns 18, and then the pay...

Q: At the beginning of June 2017, Julia left her husband and

At the beginning of June 2017, Julia left her husband and is currently living in an apartment. The couple has no children. At the end of the current year, no formal proceedings have occurred in relati...

Q: Which of the following items does not qualify as an educator expense

Which of the following items does not qualify as an educator expense item deduction? a. Books. b. Home schooling expenses. c. Computers and software. d. Professional development expenses related to...