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TEST BANK for Income Tax Fundamentals 42nd Edition by Gerald Whittenburg, All Chapters 1-12 Fully Covered A+ Guide , ISBN: 9780357900932 Verified Latest 2024 Version Instant Pdf Download $15.99   Add to cart
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TEST BANK for Income Tax Fundamentals 42nd Edition by Gerald Whittenburg, All Chapters 1-12 Fully Covered A+ Guide , ISBN: 9780357900932 Verified Latest 2024 Version Instant Pdf Download
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TEST BANK for Income Tax Fundamentals 42nd Edition by Gerald Whittenburg, All Chapters 1-12 Fully Covered A+ Guide , ISBN: 9780357900932 Verified Latest 2024 Version Instant Pdf Download TEST BANK for Income Tax Fundamentals 2024, 42nd Edition by Gerald Whittenburg; ISBN: 9780357900932, All 12 Chap...

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  • November 6, 2024
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  • 2024/2025
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,TABLE OF CONTENTS a a a




1. The Individual Income Tax Return.
a a a a a




2. Gross Income and Exclusions.
a a a a




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




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




5. Itemized Deductions and Other Incentives.
a a a a a




6. Credits and Special Taxes.
a a a a




7. Accounting Periods and Methods and Depreciation.
a a a a a a




8. Capital Gains and Losses.
a a a a




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




10. Partnership Taxation.
a a




11. The Corporate Income Tax.
a a a a




12. Tax Administration and Tax Planning.
a a a a a

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




1. Aacorporationaisaaareportingaentityabutanotaaatax-payingaentity.
FALSE



2. Partnershipacapitalagainsaandalossesaareaallocatedaseparatelya toaeachaofatheapartners.
TRUE



3. Marrieda taxpayersa maya doublea theira standarda deductiona amounta bya filinga separateareturns.
FALSE



4. Anaitemaisanotaincludedainagrossaincomeaunlessatheataxa lawaspecifiesathata theaitemaisasubjectatoata
xation.
FALSE



5. Forataxpayersawhoadoa nota itemizeadeductions,atheastandarda deductiona amountaisasubtractedaf
romatheataxpayer'saadjustedagrossaincome.
TRUE



6. Aataxpayerawithaself-employmentaincomeaofa$600amustafileaaataxareturn.
TRUE



7. Aadependentachildawithaearnedaincomea inaexcessaofatheaavailableastandarda deductionaamountamus
tafileaaataxareturn.
TRUE



8. Aasingleataxpayer,awhoaisa nota blinda andawhoa isaunderaagea65,a witha incomea ofa$8,750amustafileaaa
taxareturn.
FALSE

, 9. Ifaaataxpayeraisadueaaarefund,aitawillabeamailedatoatheataxpayeraregardlessaofawhetheraheaorasheafilesaaat
axareturn.
FALSE



10. Taxpayersawithaself-employmentaincomeaofa$400aoramoreamustafileaaataxareturn.
TRUE



11. Ifa youra spouseadiesa duringa thea taxayeara anda youadoanota remarry,a youa mustafilea asasingleaforat
heayearaofadeath.
FALSE



12. Taxpayersawhoadoanotaqualifyaforamarried,aheadaofahousehold,aoraqualifyingawidowaorawidowerafi
lingastatusamustafileaasasingle.
TRUE



13. Ifaanaunmarriedataxpayerapaidamoreathanahalfatheacostaofakeepingaaahomeawhichaisatheaprincipalapla
ceaofaresidenceaofaaanephew,awhoaisanotaheradependent,asheamayauseatheaheadaofahouseholdafilingastatus
.
FALSE



14. Theamaximumaofficialaindividualaincomeataxarateafora2012aisa35apercent.
TRUE



15. Allataxpayersamayauseatheataxarateascheduleatoadetermineatheirataxaliability.
FALSE



16. Theaheadaofahouseholdataxaratesaareahigherathanathearatesaforaaasingleataxpayer.
FALSE



17. Mosta statesa area communitya propertya states.
FALSE

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