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Test bank for income tax fundamentals 38th edition gerald e whittenburg martha altus buller steven gill 2024. $15.99   Add to cart

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Test bank for income tax fundamentals 38th edition gerald e whittenburg martha altus buller steven gill 2024.

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Test bank for income tax fundamentals 38th edition gerald e whittenburg martha altus buller steven gill 2024.

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  • November 19, 2024
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  • Income tax
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testbank09
TESTBANK:INCOME
TAX
FUNDAMENTALS,
38TH EDITION,
k




GERALD E.
WHITTENBURG,
MARTHA ALTUS-
BULLER, STEVEN GILL

,Chapter k1: kThe kIndividual kIncome kTax kReturn

1. A kcorporation kis ka kreporting kentity kbut knot ka ktax-paying
kentity. kTrue False



2. Partnership kcapital kgains kand klosses kare kallocated kseparately kto keach kof kthe
kpartners. kTrue False




3. Married ktaxpayers kmay kdouble ktheir kstandard kdeduction kamount kby kfiling
kseparate kreturns.
True False



4. An kitem kis knot kincluded kin kgross kincome kunless kthe ktax klaw kspecifies kthat kthe
kitem kis ksubject kto ktaxation.
True False



5. For ktaxpayers kwho kdo knot kitemize kdeductions, kthe kstandard kdeduction
kamount kis ksubtracted kfrom kthe ktaxpayer's kadjusted kgross kincome.
True False



6. A ktaxpayer kwith kself-employment kincome kof k$600 kmust kfile ka ktax
kreturn. kTrue False



7. A kdependent kchild kwith kearned kincome kin kexcess kof kthe kavailable kstandard
kdeduction kamount kmust kfile ka ktax kreturn.
True False



8. A ksingle ktaxpayer, kwho kis knot kblind kand kwho kis kunder kage k65, kwith kincome kof
k$8,750 kmust kfile ka ktax kreturn.
True False

,9. If ka ktaxpayer kis kdue ka krefund, kit kwill kbe kmailed kto kthe ktaxpayer kregardless kof
kwhether khe kor kshe kfiles ka ktax kreturn.
True False



10. Taxpayers kwith kself-employment kincome kof k$400 kor kmore kmust kfile ka ktax
kreturn. kTrue False



11. If kyour kspouse kdies kduring kthe ktax kyear kand kyou kdo knot kremarry, kyou kmust
kfile kas ksingle kfor kthe kyear kof kdeath.
True False



12. Taxpayers kwho kdo knot kqualify kfor kmarried, khead kof khousehold, kor kqualifying
kwidow kor kwidower kfiling kstatus kmust kfile kas ksingle.
True False



13. If kan kunmarried ktaxpayer kpaid kmore kthan khalf kthe kcost kof kkeeping ka khome kwhich
kis kthe kprincipal kplace kof kresidence kof ka knephew, kwho kis knot kher kdependent, kshe
kmay kuse kthe k head kof khousehold kfiling kstatus.
True False



14. The kmaximum kofficial kindividual kincome ktax krate kfor k2012 kis k35
kpercent. kTrue False




15. All ktaxpayers kmay kuse kthe ktax krate kschedule kto kdetermine ktheir ktax
kliability. kTrue False



16. The khead kof khousehold ktax krates kare khigher kthan kthe krates kfor ka ksingle
ktaxpayer. kTrue False




17. Most kstates kare kcommunity kproperty
kstates. kTrue False

, 18. If ktaxpayers kare kmarried kand kliving ktogether kat kthe kend kof kthe kyear, kthey
kmust kfile ka kjoint ktax kreturn.
True False



19. A ktaxpayer kwho kmaintains ka khousehold kwith kan kunmarried kchild kmay kqualify kto
kfile kas khead kof khousehold keven kif kthe kchild kis knot kthe ktaxpayer's kdependent.
True False



20. A kmarried kperson kwith ka kdependent kchild kmay kchoose kto kfile kas khead kof
khousehold kif kit kreduces khis kor kher ktax kliability.
True False



21. A ktaxpayer kwho kis kliving kalone kand kis klegally kseparated kfrom khis kor kher kspouse
kunder ka kseparate kmaintenance kdecree kat kyear-end kshould kfile kas ksingle.
True False



22. An kindividual, kage k22, kenrolled kon ka kfull-time kbasis kat ka ktrade kschool, kis
kconsidered ka kstudent kfor kpurposes kof kdetermining kwhether ka kdependency
kexemption kis kpermitted. kTrue False



23. A kdependency kexemption kmay kbe kclaimed kby kthe ksupporting ktaxpayer kin kthe
kyear kof kdeath kof ka kdependent.
True False



24. For k2012, kpersonal kand kdependency kexemptions kare k$3,800
keach. kTrue False



25. Scholarships kreceived kby ka kstudent kmay kbe kexcluded kfor kpurposes kof kthe ksupport
ktest kfor kdetermining kthe kavailability kof kthe kdependency kexemption.
True False

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