A taxpayer may exclude which of the Life insurance, if paid by reason of death of the insured.
following from their gross income?
An allocation of income from a business
structured as a partnership, based on the
taxpayer's percentage of ownership.
Dividend income from a mutual fund
investment.
Gain from the sale of rental property.
Life insurance, if paid by reason of death of
the insured.
Which of the following is included in an -- Interest on state and local municipal bonds
individual taxpayer's federal gross income?
Certain income from the discharge of
indebtedness.
Disaster relief payments.
A federal income tax refund.
Interest on state and local municipal
bonds.
1/24
,10/10/24, 8:20 PM
Which of the following is taxable income? Alimony received in accordance with a divorce decree signed on or before
Alimony received in accordance with a December 31, 2018. No changes have been made to the agreement.
divorce decree signed on or before
December 31, 2018. No changes have been
made to the agreement.
Child support payments received in
accordance with a divorce decree signed
on or before December 31, 2018. No
changes have been made to the
agreement.
A noncash property settlement paid by a
former spouse.
Payments made to maintain the taxpayer's
primary residence, made by a former
spouse who still owns the property.
Mark for follow up
Taylor and Lucy were divorced on Single
September 24, 2021. Neither has any
dependents. Neither has remarried. The
correct filing status they should each use is:
Single.
Married filing jointly.
Married filing separately.
Head of household.
Which taxpayer(s) will be required to file a Noel (66) and Deborah (63) have gross income of $26,950. They wish to file a joint
2021 federal income tax return? None of return.
the individuals are blind.
Carl (66) has gross income of $13,750. He is
single and has no dependents.
Cassidy (34) has gross income of $18,550.
She will file as head of household with one
dependent.
Maddie (27) and Calder (25) are married
and have gross income of $24,900. They
lived together all year and wish to file a
joint return.
Noel (66) and Deborah (63) have gross
income of $26,950. They wish to file a joint
return.
Which of the following is a factor that may Age
determine whether a nondependent
taxpayer is required to file a return?
Age.
Citizenship.
Net worth.
State of residency.
2/24
, 10/10/24, 8:20 PM
Choose the response that correctly $350
completes the following sentence about
the filing requirement for a dependent
taxpayer. A single dependent who is not
blind and is under age 65 has a 2021 filing
requirement if their gross income is more
than the greater of $1,100 or their earned
income (up to $12,200) plus:
$50
$200
$250
$350
What is the 2021 gross income filing $26,450
requirement for a married couple, filing
jointly, where neither is blind, but one is
age 65, and the other is age 60? They lived
together all year.
$25,100
$26,450
$26,800
$27,800
Which taxpayer(s) will be required to file a Andrew (32) has gross income of $3,500. His filing status is married filing separately.
2021 federal income tax return? None of
the individuals are blind.
Andrew (32) has gross income of $3,500.
His filing status is married filing separately.
Bill (68) has gross income of $13,950. He is
single and has no dependents.
Diego (35) has gross income of $24,100. He
is a qualifying widower with one
dependent.
Jeff (65) and Sarah (63) are married and
have gross income of $25,750. They lived
together all year and wish to file a joint
return.
3/24
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