quiz chap 9 & 10

quiz chap 9 & 10 - PRACTICE QUIZ CHAPTER 9 AND...

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PRACTICE QUIZ CHAPTER 9 AND CHAPTER 10 1) Bill obtained a new job in Boston. He incurred the following moving expenses: Transportation of household goods and personal effects $2,600 Cost of transporting Bill's family 2,000 Househunting trip 1,700 Payments to lessor to cancel a lease 500 Assuming Bill is entitled to deduct moving expenses, what is the amount of the deduction? a. $2,600 b. $4,600 c. $6,300 d. $6,800 2) All of the following may deduct education expenses except a. Richard is a self-employed dentist who incurs expenses to attend a convention on new techniques in oral surgery. b. Paige is an accountant who incurs expenses to take a CPA exam review course. c. Hope is a business executive who incurs expenses to pursue an MBA degree. d. Marvin is a high school teacher who incurs expenses for education courses to meet new course requirements to maintain her job. 3) Alex is a selfemployed dentist who operates a qualifying office in his home. Alex has $60,000 gross income from his practice and $50,000 of expenses directly related to the business, i.e., nonhome office expenses. Alex's allocable home office expenses for mortgage
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quiz chap 9 & 10 - PRACTICE QUIZ CHAPTER 9 AND...

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