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Chapter 3 quiz (1)

Chapter 3 quiz (1) - Computing the Tax 3-j CHAPTER 3...

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Computing the Tax 3-j CHAPTER 3 COMPUTING THE TAX EXAMINATION QUESTIONS ____1. In 2010, Donald is a widower and maintains a household in which he and his unmarried daughter, Paula, live. Paula need not be Donald’s dependent for Donald to claim head of household filing status. 2. In 2010, Gomez had the following transactions: Alimony received $ 5,000 Salary earned 50,000 Cash dividends received on stock investment 1,000 Bequest received 30,000 Gomez’s AGI for 2010 is: a. $50,000. b. $45,000. c. $56,000. d. $86,000. e. None of the above. 3. In 2010, Shauna had the following transactions: Wages earned $40,000 Football pool prize 10,000 Interest Income from Colorado Bonds 6,000 Contribution to traditional Individual Retirement Account (IRA) 5,000 Medical insurance premium payments 2,000 Shauna’s AGI for 2010 is:
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3- 2011 Comprehensive Edition
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