Chapter 3 quiz (1)

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

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
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: a. $45,000. b. $50,000. c. $51,000. d. $56,000. e. None of the above.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
3- 2011 Comprehensive Edition 4. Kevin, age 16, is claimed as a dependent on his parents’ tax return. During 2010, he had
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/13/2010 for the course EMS 432 taught by Professor Johnson during the Spring '10 term at NMT.

Page1 / 3

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

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online