Income Tax Fundamentals 2012, 30th ed. - CengageBrain

Licensed to:
1-30 Chapter 1 The Individual Income Tax Return
LO 1.2
LO 1.3
LO 1.3
LO 1.3
LO 1.4
LO 1.5
LO 1.6
2. Partnership income is reported on:
a. Form 1040
b. Form 1120
c. Form 1040X
d. Form 1065
3. Which of the following is a deduction for adjusted gross income in 2011?
a. Alimony payments
b. Medical expenses
c. Personal casualty losses
d. Charitable contributions
e. None of the above
4. All of the following are itemized deductions in 2011 except:
a. Charitable contributions
b. Casualty losses
c. Moving expenses
d. Medical expenses
e. All of the above are itemized deductions
5. Ramon, a single taxpayer, has adjusted gross income for 2011 of $98,000 and his itemized
deductions total $19,000. What taxable income will Ramon show in 2011?
a. $73,550
b. $75,300
c. $92,550
d. $89,050
e. $70,050
6. Ben is a single taxpayer in 2011 who is 32 years old. What is the minimum amount of
income that he must have to be required to file a tax return for 2011?
a. $5,800
b. $11,600
c. $9,500
d. $10,300
e. None of the above
7. Joan, who was divorced in 2011, had filed a joint tax return with her husband in 2010.
During 2011, she did not remarry and continued to maintain her home in which her
five dependent children lived. In the preparation of her tax return for 2011, Joan
should file as:
a. A single individual
b. A qualifying widow(er)
c. Head of household
d. Married, filing separately
e. None of the above
8. Margaret and her sister support their mother and together provide 85 percent of their
mother’s support. If Margaret provides 40 percent of her mother’s support:
a. Her sister is the only one who can claim their mother as a dependent
b. Neither Margaret nor her sister may claim their mother as a dependent
c. Both Margaret and her sister may claim their mother as a dependent
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