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Bill Brancaccio
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Decks in this class (42)
Chapter 1 T/F
The standard federal tax reporter...,
Federal tax articles is a compreh...,
One leading report for the latest...
5
cards
Chapter 2 T/F
Congress was given the power by t...,
Congress has the power to tax all...,
He statutory source of tax law to...
19
cards
Chapter 2 Review
What powers does the 16th amendme...,
Describe the historical evolution...,
What is the legal effect of the code
22
cards
Chapter 3 T/F
All income is includible in a tax...,
Although there are 15 items liste...,
When a taxpayer receives a return...
8
cards
Chapter 3 Review
What are 15 items that are specif...,
How is the tax concept of income ...,
Don purchases stock at 30 a share...
8
cards
Chapter 2 MC
Which of the following statements...,
In which of the following courts ...,
Which of the following statements...
7
cards
Chapter 3 MC
Which of the following items woul...,
At the time of occurrence which o...,
Which of the following statements...
3
cards
Chapter 4 T/F
A deductible contribution to an i...,
The standard deduction for all in...,
For the 2011 tax year taxpayers w...
14
cards
Chapter 4 Review
What is adjusted gross income,
List several items that are deduc...,
What is the standard deduction an...
25
cards
Chapter 5 T/F
If alimony payments are deductibl...,
Payments of alimony may be made i...,
Payments constituting alimony mad...
21
cards
Chapter 5 Review Questions
What is the basic income tax rule...,
Can rent free occupancy of a home...,
Can rent free occupancy of a home...
25
cards
Chapter 6 T/F
One essential element of a gift i...,
A gift of property must be in a f...,
If a gift of property is excludib...
21
cards
Chapter 7 T/F
A business expense need not be ma...,
Business expenditures are not ded...,
All business expenditures includi...
20
cards
Chapter 8 T/F
A taxpayer who owns stock that ha...,
No deduction is allowed for a los...,
When stock in a corporation becom...
12
cards
Chapter 9 T/F
Capital expenditures include thos...,
The cost of a capital expenditure...,
Personal expenses such as heat el...
30
cards
Chapter 10 T/F
A qualifying child for purposes o...,
The amount of the tax credit for ...,
Qualified adoption expenses for p...
8
cards
Chapter 11 T/F
Cost recovery allows the taxpayer...,
Depreciation deductions for prope...,
A mortgagee is allowed to take de...
21
cards
Chapter 12 T/F
Generally excess losses from a pa...,
Under the passive activity loss r...,
To qualify for the active partici...
3
cards
Chapter 13 T/F
Realized gain includes economic g...,
Whenever a realization of gain or...,
The amount realized on a sale of ...
20
cards
Chapter 14 T/F
A capital asset includes all prop...,
Sales of capital assets held by i...,
Sales of collectibles qualify for...
10
cards
Chapter 15 T/F
Theft and casualty losses are not...,
When computing the amt the standa...,
Charitable contributions are gene...
12
cards
Chapter 16 T/F
Death benefits received under an ...,
Life insurance death benefits are...,
A surviving spouse may exclude fr...
21
cards
Chapter 17 T/F
The 10 percent penalty will apply...,
A life policy death benefit incre...,
All mecs issued by the same insur...
3
cards
Chapter 18 T/F
A corporation is a business organ...,
Limited liability means that it i...,
A corporation is not legally diss...
24
cards
Chapter 19 T/F
Generally a distribution by a cor...,
A dividend includes a return of p...,
The earnings and profits of a cor...
20
cards
Chapter 20 T/F
Business organizations that are u...,
A limited liability company has t...,
Profits earned by a partnership a...
20
cards
Chapter 4 MC
Which of the following statements...,
In order to be treated as a quali...,
How many personal exemptions is a...
5
cards
Chapter 5 MC
An employer maintains a group ter...,
An executive bought 100 shares of...,
Robert and susan were just divorc...
6
cards
Chapter 6 MC
Five years ago john purchased a p...,
This year joe carlton gave rental...,
Which of the following statements...
6
cards
Chapter 7 MC
Benefits received in excess of me...,
Which of the following educationa...,
Which of the following statements...
7
cards
Chapter 8 MC
Which of the following statements...,
All the following statements conc...,
To determine adjusted gross incom...
4
cards
Chapter 9 MC
Johnson makes a 500 000 building ...,
Faith forrester has the following...,
For the current year an individua...
11
cards
Chapter 10 MC
Which of the following statements...,
All the following statements conc...,
All of the following statements c...
3
cards
Chapter 11 MC
Which of the following statements...,
Under the tax rules governing dep...,
Which of the following statements...
6
cards
Chapter 12 MC
Which of the following statements...
1
cards
Chapter 13 MC
An independent sales representati...,
Which of the following statements...,
A shareholder sells a portion of ...
5
cards
Chapter 14 MC
Which of the following statements...,
Which of the following statements...
2
cards
Chapter 15 MC
The alternative minimum tax amt i...,
Which of the following statements...,
All the following statements conc...
5
cards
Chapter 16 MC
Sally snow is the beneficiary of ...,
A woman purchased a 100 000 whole...,
A corporation purchased a 50 000 ...
7
cards
Chapter 18 MC
A c corporation in the manufactur...,
Ben and john formed a corporation...,
Which of the following statements...
7
cards
Chapter 19 MC
The magic missile corporation has...,
Which of the following statements...,
Which of the following transactio...
6
cards
Chapter 20 MC
In determining his individual inc...,
Which of the following statements...,
All the following statements conc...
7
cards
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HS321 CFP Income Taxation
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