CHAPTER 6 QUIZ GRADED

CHAPTER 6 QUIZ GRADED - CHAPTER 6 QUIZ GRADED 1....

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CHAPTER 6 QUIZ GRADED 1. phft24i 1.6-41 On Form 1040, deductions for adjusted gross income include the amoun except   Student  Response Value Correct Answer Feedback A.  moving  expenses. 0% B.  alimony. 0% C.  home  mortgage  interest. 100% Home mortgage interest deduction from AGI.  D.  student loan  interest. 0% Score: 1/1  Comments: 2. phft24i 1.6-42 Deductions for adjusted gross income include all of the following  Student  Response Value Correct Answer Feedback A.  expenses  attributable to  production of  rental income. 0% B.  contributions to  certain  retirement plan  arrangements. 0% C.  alimony. 0% D.  unreimbursed  employee  business  expenses. 100%
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Score: 1/1  Comments: 3. phft24i 1.6-43 Self-employed individuals may claim, as a deduction for adjusted gross in Student  Response Value Correct Answer Feedback A.  traditional IRA  contributions. 0% B.  self- employment  tax. 100% C.  disability  insurance  premiums. 0% D.  health  insurance  premiums. 0% Score: 1/1  Comments: 4. phft24i 1.6-44 Charles is a single person, age 35, with no dependents. In 2010, Charles from his sole proprietorship. Charles also incurs $80,000 of deductible bu with his proprietorship. He has interest and dividend income of $22,000.  deductions. Charles's taxable income is  Student  Response Value Correct Answer Feedback A.  $13,350. 0% B.  $7,650. 100%
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CHAPTER 6 QUIZ GRADED Student  Response Value Correct Answer Feedback C.  $11,300. 0% D.  $17,000. 0% Score: 0/1  Comments: 5. phft24i 1.6-45 In 2010, Sean, who is single and age 44, received $55,000 of gross incom deductions for AGI and $4,600 of itemized deductions. Sean's taxable inc Student  Response Value Correct Answer Feedback A. $40,650. 100% Gross income $55,000  Deductions for AGI ( Adjusted gross income $ Standard deduction ( 5,7 Exemption ( Taxable income $40,650 B. $45,400. 0% C.  $44,300. 0% D.  $46,350. 0% Score: 1/1  Comments: 6. phft24i 1.6-46 In 2010, Venkat, who is single and age 37, received $60,000 of gross inco itemized deductions. Venkat's taxable income is  Student  Response Value Correct Answer Feedback A.  $54,000. 0%
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Student  Response Value Correct Answer Feedback B.  $56,350. 0% C.  $50,350. 100% D.  $50,000. 0% Score: 1/1  Comments: 7. phft24i 1.6-47 Liz, who is single, lives in a single family home and owns a second single for the entire year at a fair rental rate. Liz had the following items of incom
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CHAPTER 6 QUIZ GRADED - CHAPTER 6 QUIZ GRADED 1....

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