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Test Bank for Income Tax Fundamentals 2024, 42nd Edition by Whittenburg $15.49   Add to cart
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Test Bank for Income Tax Fundamentals 2024, 42nd Edition by Whittenburg
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  • Taxation
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  • Taxation

Test Bank for Income Tax Fundamentals 2024, 42nd Edition 42e by Gerald E. Whittenburg, Steven Gill. Full Chapters test bank are included - Chapter 1 to 12 (Answers included) 1. The Individual Income Tax Return. 2. Gross Income and Exclusions. 3. Business Income and Expenses. 4. Additional Income an...

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  • October 10, 2024
  • 211
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Taxation
  • Taxation

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,TABLE OF CONTENTS R R R




1. The Individual Income Tax Return.
R R R R R




2. Gross Income and Exclusions.
R R R R




3. Business Income and Expenses, Part I.
R R R R R R




4. Business Income and Expenses, Part II.
R R R R R R




5. Itemized Deductions and Other Incentives.
R R R R R




6. Credits and Special Taxes.
R R R R




7. Accounting Periods and Methods and Depreciation.
R R R R R R




8. Capital Gains and Losses.
R R R R




9. Withholding, Estimated Payments, and Payroll Taxes.
R R R R R R




10. Partnership Taxation.
R R




11. The Corporate Income Tax.
R R R R




12. Tax Administration and Tax Planning.
R R R R R

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




1. ARcorporationRisRaRreportingRentityRbutRnotRaRtax-payingRentity.
FALSE



2. PartnershipRcapitalRgainsRandRlossesR areRallocatedRseparatelyRtoR eachRofRtheRpartners.
TRUE



3. MarriedR taxpayersR mayR doubleR theirR standardR deductionR amountR byR filingR separateRreturns.
FALSE



4. AnRitemRisRnotRincludedRinRgrossRincomeRunlessRtheRtaxRlawRspecifiesRthatRtheRitemRisRsubject
RtoRtaxation.

FALSE



5. ForRtaxpayersRwhoRdoRnotR itemizeRdeductions,RtheRstandardR deductionR amountRisRsubtract
edRfromRtheRtaxpayer'sRadjustedRgrossRincome.
TRUE



6. ARtaxpayerRwithRself-employmentRincomeRofR$600RmustRfileRaRtaxRreturn.
TRUE



7. ARdependentR childRwithRearnedRincomeR inR excessRofRtheR availableRstandardR deductionRamountR
mustRfileRaRtaxRreturn.
TRUE



8. ARsingleRtaxpayer,RwhoRisR notR blindR andR whoR isRunderR ageR65,R withR incomeR ofR$8,750RmustR
fileRaRtaxRreturn.
FALSE

, 9. IfRaRtaxpayerRisRdueRaRrefund,RitRwillRbeRmailedRtoRtheRtaxpayerRregardlessRofRwhetherRheRorRsheRfi
lesRaRtaxRreturn.
FALSE



10. TaxpayersRwithRself-employmentRincomeRofR$400RorRmoreRmustRfileRaRtaxRreturn.
TRUE



11. IfR yourR spouseRdiesR duringR theR taxRyearR andR youRdoRnotR remarry,R youRmustR fileR asRsingleR
forRtheRyearRofRdeath.
FALSE



12. TaxpayersRwhoRdoRnotRqualifyRforRmarried,RheadRofRhousehold,RorRqualifyingRwidowRorRwidow
erRfilingRstatusRmustRfileRasRsingle.
TRUE



13. IfRanRunmarriedRtaxpayerRpaidRmoreRthanRhalfRtheR costRofRkeepingR aRhomeRwhichRisRtheRprincipa
lRplaceRofRresidenceRofRaRnephew,RwhoRisRnotRherRdependent,RsheRmayRuseRtheRheadRofRhouseholdRfi
lingRstatus.
FALSE



14. TheRmaximumRofficialRindividualRincomeRtaxRrateRforR2012RisR35Rpercent.
TRUE



15. AllRtaxpayersRmayRuseRtheRtaxRrateRscheduleRtoRdetermineRtheirRtaxRliability.
FALSE



16. TheRheadRofRhouseholdRtaxRratesR areRhigherR thanRtheRratesR forRaRsingleRtaxpayer.
FALSE



17. MostR statesR areR communityR propertyR states.
FALSE

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