Questions from General Taxation

Q: Under current tax law, the deductible amount for expenses under the

Under current tax law, the deductible amount for expenses under the educator expense deduction is limited per taxpayer to: a. $100. b. $150. c. $200. d. $250.

Q: For AGI, or above-the-line, deductions:

For AGI, or above-the-line, deductions: a. Are determined by the taxpayer. b. Are set by statute. c. Increase tax liability. d. Are reported in Schedule A.

Q: Indicate whether each of the following items is considered a for AGI

Indicate whether each of the following items is considered a for AGI, (above-the line) deduction for the 2017 tax year. a. Student loan interest. b. Gambling losses. c. Early withdrawal penalty. d. C...

Q: Payment of alimony by the taxpayer is a for AGI deduction.

Payment of alimony by the taxpayer is a for AGI deduction. Which form can the taxpayer use to claim this benefit? Either 1040 or 1040A. 1040. 1040A. None of the above.

Q: A taxpayer is married with a qualifying child (dependent), but

A taxpayer is married with a qualifying child (dependent), but she has been living separately from her spouse for the last eight months of the year. However, she paid for more than half of the cost o...

Q: A taxpayer’s spouse died on December 31, 2016. He has

A taxpayer’s spouse died on December 31, 2016. He has no qualifying child. Which status should the taxpayer select when filing his 2017 tax return? Qualifying widow(er). Married filing jointly. S...

Q: Esmeralda is 20 years of age and a full-time student

Esmeralda is 20 years of age and a full-time student living with her parents. She had wages of $500 ($50 of income tax withholding) for 2017. Can Esmeralda claim her own exemption on her return even...

Q: What is the amount of the personal and dependency exemptions for 2017

What is the amount of the personal and dependency exemptions for 2017? $3,950. $4,100. $4,000. d. $4,050.

Q: To be a qualifying child, the taxpayer must meet three general

To be a qualifying child, the taxpayer must meet three general tests and five specific tests. Which of the following is not part of the five specific tests? Support test. Age test. Gross income test...

Q: To be a qualifying relative, who has to live in the

To be a qualifying relative, who has to live in the home of the taxpayer for the entire year? Cousin. Child. Stepchild. d. Father.