This preview shows pages 1–3. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: CHAPTER 10 DEDUCTIONS AND LOSSES: CERTAIN ITEMIZED DEDUCTIONS Instructor: The test items in both the print Test Bank and ExamView test-creation software are numbered by question type within each chapter. Thus, users of ExamView can more easily preview their selections using the printed Test Bank in the same numbering system. Learning Objective, Level of Difficulty, Estimated Time to Completion, and the AACSBs and AICPAs Core Competencie s for each test item are located within the item itself. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Deductible personal expenditures Unchanged 1 2 Medical expense: deductibility New 3 Medical expense: cosmetic surgery Unchanged 3 4 Medical expense: private school Unchanged 4 5 Medical expense: appraisal fee for capital Unchanged 5 improvement 6 Medical expense: capital expenditure New 7 Medical expense: capital improvement Unchanged 7 8 Medical expenses of a dependent Unchanged 8 9 Medical expenses of a dependent New 10 Medical expense: transportation costs Unchanged 10 11 Medical expense: travel and cost of lodging New 12 Medical expense: deductibility of premiums paid New by self-employed taxpayer 13 Medical expense: taxability of premiums paid Unchanged 13 by employer 14 Medical expenses that will be reimbursed in a Unchanged 14 future year 15 Medical expense reimbursement: tax benefit rule Unchanged 15 16 Health Savings Accounts Unchanged 16 17 Nondeductibility of FICA taxes for domestics Unchanged 17 18 Taxes and fees: personal versus business New 19 Local property tax and assessment for local benefits Unchanged 19 20 Apportionment of property taxes between buyer New and seller: impact on basis 21 Apportionment of property taxes between buyer New 10-1 10-2 2010 Comprehensive Volume/Test Bank and seller: deductibility 22 Business tax deduction Unchanged 22 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 23 Classification of state income taxes Unchanged 23 24 State income taxes: year of deduction Unchanged 24 25 Income recognition and state income tax refund New 26 Interest on qualified student loan Modified 26 27 Interest on qualified student loan New 28 Qualified residence interest: qualified residence Unchanged 28 defined 29 Qualified residence interest: qualified residence Unchanged 29 defined 30 Acquisition indebtedness Unchanged 30 31 Points paid on rental property Unchanged 31 32 Points paid by seller New 33 Points paid by seller Unchanged 33 34 Prepayment penalty Unchanged 34 35 Interest expense on amounts borrowed to purchase Unchanged 35 tax-exempt bonds 36 Prepaid interest and method of accounting Unchanged 36 37 Year end charitable gift Unchanged 37 38 Charitable contributions charged on a credit card Unchanged 38 39 Charitable contributions: personal benefit Unchanged 39 limitations 40 Charitable contributions: rent-free use of property Unchanged 40 41 Charitable contributions: qualified charity New 42 Charitable contributions: bingo games...
View Full Document