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Quiz 3 - Quiz 3 Points Possible Points Earned Points Missed...

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Quiz 3    Points Possible  20  Points Earned  6  Points Missed  14  Points Ungraded  0  Score  30.0% 1. Using the Code Arranged Annotations & Explanation (USTR) Topic Index, the alternative  motor vehicle tax credit can be found in   A.  Section 1016  B.  Section 179A  C.  Section 30B D.  None of the above Response: B Answer: C Points: 0 / 1 Comment: Sorry. Check Section 30B. 2. In RIA, you know that a case or other pronouncement has been recently released when it  is designated as   3. Using the Advance Code Arranged Annotations, one of the most recent developments  concerning business expenses and the trade or business of individuals concerns:   A.  Constitutionality of the income tax B.  Charitable contributions made by a corporation for a shareholder C.  A tax attorney's deduction of legal expenses for settling a lawsuit brought against him  by a client D.  Miscellaneous decisions relating to rental payments Response: B Answer: D Points: 0 / 1 Comment: Sorry. Item d is the correct answer. 4. Expand the Code Arranged Annotations (i.e., the annotations that are not Advance). What  is the first annotation related to Section 163, Interest Expense?
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  5. Expand the Code Arranged Annotations (i.e., the annotations that are not Advance). Click  on ¶3015.001 (a link). To what Code Section does it relate? Is it an annotation or  explanation?   A.  Code Section 15--Annotation B.  Code Section 30--Explanation C.  Code Section 301-Annotation D.  Code Section 301--Explanation Response: B Answer: C Points: 0 / 1 Comment: The digits before a "4" (signifying Explanations and "5" for Annotations) are the  Code Section numbers . Here the Section is 301 and the 5 indicates it is an Annotation.
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  • Spring '09
  • Susan
  • Taxation in the United States, ustr, Federal Tax Coordinator, Journal of Taxation, Code Arranged Annotations

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