Questions from General Taxation

Q: Vickie is single and age 43. She reported AGI of $

Vickie is single and age 43. She reported AGI of $126,000 in tax year 2019. She is an active participant in her employer’s pension plan. What is the maximum Roth IRA contribution she can make in 2019?...

Q: After two and one-half years of working with the orphanage

After two and one-half years of working with the orphanage and the government, Jake and Nikki adopted a two-year-old girl from Korea. The adoption process, which became final in January 2019, incurred...

Q: Which form would a member of the military use to deduct qualifying

Which form would a member of the military use to deduct qualifying moving expenses and what key pieces of information should be included there?

Q: Abel and Loni adopted a boy (a U.S.

Abel and Loni adopted a boy (a U.S. citizen) during the current tax year and incurred a total of $15,675 in qualified adoption expenses. Abel and Loni have modified AGI of $225,000. What is the amount...

Q: Juan and Lydia both work, file a joint return, and

Juan and Lydia both work, file a joint return, and have one qualifying child. They have earned income of $19,000. What is their EIC? a. $529. b. $3,036. c. $3,526. d. $6,460.

Q: Thomas and Stephani are married with four qualifying children. Their earned

Thomas and Stephani are married with four qualifying children. Their earned income is $28,500. Calculate their EIC using the EIC formula. a. $4,563. b. $5,782. c. $6,002. d. $6,557.

Q: Household employees are subject to FICA withholding if they are paid at

Household employees are subject to FICA withholding if they are paid at least what amount during 2019? a. $1,800. b. $1,900. c. $2,000. d. $2,100.

Q: Employers pay a maximum federal unemployment tax of 6.0%

Employers pay a maximum federal unemployment tax of 6.0% on how much of an employee’s taxable wages for 2019? a. $1,800. b. $3,800. c. $5,800. d. $7,000.

Q: Dwayne is single with two dependents. He enrolled in a qualified

Dwayne is single with two dependents. He enrolled in a qualified health care plan through the Marketplace at a cost of $4,200 per year. His household income was $43,730. The SLCSP premium is $4,950. W...

Q: On January 3, 2019, Jane employed a part-time

On January 3, 2019, Jane employed a part-time household worker in her home. She paid the household worker $350 per month for 2019. What amount of FICA tax is Jane required to record on Schedule H? a....