Ch3V1TB - CHAPTER 3 TAX DETERMINATION; PERSONAL AND...

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CHAPTER 3 TAX DETERMINATION; PERSONAL AND DEPENDENCY EXEMPTIONS; AN OVERVIEW OF PROPERTY TRANSACTIONS 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. Status: Q/P Question/ Present in Prior Problem Topic Edition Edition TRUE OR FALSE 1 Level of current income tax rates Unchanged 1 2 Definition of “gross income” Unchanged 2 3 Income taxation and example of global approach Unchanged 3 4 Effect of AGI on the medical deduction Modified 4 5 Filing status: surviving spouse versus married filing Unchanged 5 separate 6 Additional standard deductions: single and married New amounts 7 Standard deduction and adjustment for inflation Unchanged 7 8 Additional standard deduction of a dependent Unchanged 8 9 Itemized deductions versus standard deduction New 10 Basic and additional standard deductions Unchanged 10 11 Itemized deductions or standard deduction Unchanged 11 12 Itemized deductions or standard deduction Unchanged 12 13 Itemized deductions or standard deduction New 14 Standard deduction for resident alien Unchanged 14 15 Standard deduction requirements when married Unchanged 15 persons file separately 16 Standard deduction: year of death Unchanged 16 17 Dependent’s standard deduction New 18 Dependent’s standard deduction New 19 Dependent’s standard deduction Unchanged 19 20 Dependent’s personal exemption not allowed Unchanged 20 21 Claiming a spouse on a separate return Unchanged 21 22 Determination of marital status Unchanged 22 23 Determination of marital status Unchanged 23 24 Gross income test and scholarships Unchanged 24 25 Support test and capital expenditures Unchanged 25 26 Support test and unexpended funds of dependent Unchanged 26 27 Multiple support agreement: amount of support New rendered by dependent 28 Divorce decree silent: custodial parent wins New 29 Relationship test for former in-laws and ex-wife Unchanged 29 3-1
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3-2 2009 Annual Edition/Test Bank 30 Relationship test: ex-sister-in-law Unchanged 30 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 31 Qualifying child: age test and full-time student Unchanged 31 status 32 Qualifying child: abode test New 33 Married child and joint return test Unchanged 33 34 Citizenship/residency test for dependents Unchanged 34 35 Citizenship/residency test for dependents Unchanged 35 36 Stealth taxes: nature of Unchanged 36 37 Tax Relief Reconciliation Act of 2001 and Unchanged 37 elimination of the phaseout of exemptions 38 Kiddie tax: earned income and support exception New 39 Kiddie tax: when not applicable New 40 Kiddie tax: how applied Unchanged 40 41 Kiddie tax: when parental election available; child Unchanged 41 may be required to file 42 Kiddie tax: unearned income requirement Unchanged 42 43 Kiddie tax: married filing jointly exception New 44 Requirements for fiscal year, timely filed return
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This note was uploaded on 10/24/2011 for the course ACC 432A taught by Professor Forrestyoung during the Fall '11 term at National.

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Ch3V1TB - CHAPTER 3 TAX DETERMINATION; PERSONAL AND...

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