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test bank for income tax fundamentals_ 38th edition gerald e. whittenburg martha altus_buller__steven_gill

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test bank for income tax fundamentals_ 38th edition gerald e. whittenburg martha altus_buller__steven_gill

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  • November 28, 2024
  • 229
  • 2024/2025
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TEST BANK: INCOME
b b




TAX FUNDAMENT
b




ALS,38TH EDITIO
b b




N, GERALD E. WHI
b b b




TTENBURG, MAR b




THA ALTUS- b




BULLER, STEVEN
b b b




GILL

,Chapter 1: The Individual Income Tax Return
b b b b b b




1. Abcorporationbisbabreportingbentitybbutbnotbabtax-
payingbentity.bTrue False



2. Partnershipbcapitalbgainsbandblossesbareballocatedbseparatelybtobeachbofbthebpartners.bTr
ue False



3. Marriedbtaxpayersbmaybdoublebtheirbstandardbdeductionbamountbbybfilingbseparatebr
eturns.
True False



4. Anbitembisbnotbincludedbinbgrossbincomebunlessbthebtaxblawbspecifiesbthatbthebitembisbsu
bjectbtobtaxation.
True False



5. Forbtaxpayersbwhobdobnotbitemizebdeductions,bthebstandardbdeductionbamountbisbsu
btractedbfrombthebtaxpayer'sbadjustedbgrossbincome.
True False



6. Abtaxpayerbwithbself-
employmentbincomebofb$600bmustbfilebabtaxbreturn.bTrue False



7. Abdependentbchildbwithbearnedbincomebinbexcessbofbthebavailablebstandardbdeductionba
mountbmustbfilebabtaxbreturn.
True False



8. Absinglebtaxpayer,bwhobisbnotbblindbandbwhobisbunderbageb65,bwithbincomebofb$8,750bm
ustbfilebabtaxbreturn.
True False

,9. Ifbabtaxpayerbisbduebabrefund,bitbwillbbebmailedbtobthebtaxpayerbregardlessbofbwhetherbheborb
shebfilesbabtaxbreturn.
True False



10. Taxpayersbwithbself-
employmentbincomebofb$400borbmorebmustbfilebabtaxbreturn.bTrue False



11. Ifbyourbspousebdiesbduringbthebtaxbyearbandbyoubdobnotbremarry,byoubmustbfilebasbsin
glebforbthebyearbofbdeath.
True False



12. Taxpayersbwhobdobnotbqualifybforbmarried,bheadbofbhousehold,borbqualifyingbwidowborbwi
dowerbfilingbstatusbmustbfilebasbsingle.
True False



13. Ifbanbunmarriedbtaxpayerbpaidbmorebthanbhalfbthebcostbofbkeepingbabhomebwhichbisbthebpri
ncipalbplacebofbresidencebofbabnephew,bwhobisbnotbherbdependent,bshebmaybusebthebheadbofb
householdbfilingbstatus.
True False



14. Thebmaximumbofficialbindividualbincomebtaxbratebforb2012bisb35bpercent.bT
rue False



15. Allbtaxpayersbmaybusebthebtaxbratebschedulebtobdeterminebtheirbtaxbliability.bT
rue False



16. Thebheadbofbhouseholdbtaxbratesbarebhigherbthanbthebratesbforbabsinglebtaxpayer.bTr
ue False



17. Mostbstatesbarebcommunitybpropertybstates.
True False

, 18. Ifbtaxpayersbarebmarriedbandblivingbtogetherbatbthebendbofbthebyear,btheybmustbfilebabjoi
ntbtaxbreturn.
True False



19. Abtaxpayerbwhobmaintainsbabhouseholdbwithbanbunmarriedbchildbmaybqualifybtobfilebasbhe
adbofbhouseholdbevenbifbthebchildbisbnotbthebtaxpayer'sbdependent.
True False



20. Abmarriedbpersonbwithbabdependentbchildbmaybchoosebtobfilebasbheadbofbhouseholdbifbitbre
ducesbhisborbherbtaxbliability.
True False



21. Abtaxpayerbwhobisblivingbalonebandbisblegallybseparatedbfrombhisborbherbspousebunderbabse
paratebmaintenancebdecreebatbyear-endbshouldbfilebasbsingle.
True False



22. Anbindividual,bageb22,benrolledbonbabfull-
timebbasisbatbabtradebschool,bisbconsideredbabstudentbforbpurposesbofbdeterminingbwhether
babdependency bexemption bisbpermitted.bTrue False



23. Abdependencybexemptionbmaybbebclaimedbbybthebsupportingbtaxpayerbinbthebyearbofbde
athbofbabdependent.
True False



24. Forb2012,bpersonalbandbdependencybexemptionsbareb$3,800beach.bT
rue False



25. Scholarshipsbreceivedbbybabstudentbmaybbebexcludedbforbpurposesbofbthebsupportbtestbfo
rbdeterminingbthebavailabilitybofbthebdependencybexemption.
True False

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