When preparing a current-year tax return, which of the following benefits are derived from the use of the previous year's return - Answer-prevents gross mathematical errors, identifies significant changes, increases efficiency
Which of the following is a requirement that must be met in determini...
Enrolled Agent Tax Exam Questions and
Answers
When preparing a current-year tax return, which of the following benefits are derived
from the use of the previous year's return - Answer-prevents gross mathematical errors,
identifies significant changes, increases efficiency
Which of the following is a requirement that must be met in determining whether a
taxpayer is considered unmarried for head of household filing-status purposes? -
Answer-An individual's home must be, for at least 6 months, the main home of his child,
stepchild, or qualified foster child whom he or the noncustodial parent can properly
claim as a dependent.
Ms. Maple, a single woman age 65, retired in 2020. Prior to her retirement, she received
a $6,000 bonus plus $5,050 in wages. After her retirement, she received $9,000 in
social security benefits. Which of the following is true? - Answer-Ms. Maple does not
have to file a 2020 income tax return.
In general, a taxpayer does not have to file a return if his or her gross income is less
than their standard deduction.
Which of the following is true regarding the filing of form 4868, application for automatic
extension of time to file us individual income tax return - Answer-Interest is charged on
tax not paid by the due date of the return even if an extension is obtained.
Depedency - Answer-To qualify for dependency, the taxpayer must provide over 50% of
the support of a U.S. citizen who meets certain relationship tests stated in Sec. 152
If a nonresident alien receives income that is effectively connected with U.S. trade or
business, which itemized deductions may be taken? - Answer-Casualty and theft losses
from a federally declared disaster.
Nonresident aliens can deduct certain itemized deductions if income is received that is
effectively connected with U.S. trade or business. These deductions include state and
local income taxes, charitable contributions to U.S. organizations, casualty and theft
losses, and miscellaneous deductions.
Are entertainment expenses deductible? - Answer-Entertainment expenses are not
deductible?
Which of the following is not an adjustment to total income in arriving at adjusted gross
income? - Answer-Contributions to a Roth IRA
Mr. Green must use a wheelchair. Upon advice from his doctor, in 2020, he installed an
elevator and widened the front entrance of his house, incurring $10,000 and $3,000 in
respective costs. Mr. Green had purchased his house for $146,000. An appraisal
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