TAX2601 LATEST EXAM WITH VERIFIED ANSWERS A+ ALREADY
GRADED / TAX2601
Who of the following does not meet the relationship test for dependents?
Adopted
Grandchild
Step Child
Son in law
Nephew - THE CORRECT ANSWERS IS -Son in law
The choice to itemize deductions is an annual one and a taxpayer is not bound by what
was done on returns filed for past years. - THE CORRECT ANSWERS IS -True
Under certain circumstances, a taxpayer may take both the standard deduction and
itemized deductions in the same year. - THE CORRECT ANSWERS IS -False they take
the greater of the two and deduct it
he death of an individual eliminates the standard deduction for the year of death. - THE
CORRECT ANSWERS IS -false
Two additional standard deductions are allowed for a taxpayer who is age 65 or over
and blind. - THE CORRECT ANSWERS IS -true
The relationship test for a qualifying relative is more expansive than for a qualifying
child. - THE CORRECT ANSWERS IS -true
, The relationship for qualifying relative test also includes unrelated parties who live with
the taxpayer all year (i.e., are members of the household). - THE CORRECT
ANSWERS IS -true
Children may only be claimed as a dependent if they satisfy the qualifying child
definition - THE CORRECT ANSWERS IS -False. Children who do not satisfy the
qualifying child definition may be claimed as a dependent if they meet the qualifying
relative criteria.
An ex-spouse can qualify as a member of the household in a year following that of the
divorce. - THE CORRECT ANSWERS IS -true
Indicate whether the following items are "Included" in or "Excluded" from gross income
for tax purposes:
Alimony (pre-2019 divorce decree) - THE CORRECT ANSWERS IS -Included
Indicate whether the following items are "Included" in or "Excluded" from gross income
for tax purposes.
Gifts - THE CORRECT ANSWERS IS -Excluded
Indicate whether the following items are "Included" in or "Excluded" from gross income
for tax purposes.
Child Support Payments - THE CORRECT ANSWERS IS -Excluded
Indicate whether the following items are "Included" in or "Excluded" from gross income
for tax purposes.
GRADED / TAX2601
Who of the following does not meet the relationship test for dependents?
Adopted
Grandchild
Step Child
Son in law
Nephew - THE CORRECT ANSWERS IS -Son in law
The choice to itemize deductions is an annual one and a taxpayer is not bound by what
was done on returns filed for past years. - THE CORRECT ANSWERS IS -True
Under certain circumstances, a taxpayer may take both the standard deduction and
itemized deductions in the same year. - THE CORRECT ANSWERS IS -False they take
the greater of the two and deduct it
he death of an individual eliminates the standard deduction for the year of death. - THE
CORRECT ANSWERS IS -false
Two additional standard deductions are allowed for a taxpayer who is age 65 or over
and blind. - THE CORRECT ANSWERS IS -true
The relationship test for a qualifying relative is more expansive than for a qualifying
child. - THE CORRECT ANSWERS IS -true
, The relationship for qualifying relative test also includes unrelated parties who live with
the taxpayer all year (i.e., are members of the household). - THE CORRECT
ANSWERS IS -true
Children may only be claimed as a dependent if they satisfy the qualifying child
definition - THE CORRECT ANSWERS IS -False. Children who do not satisfy the
qualifying child definition may be claimed as a dependent if they meet the qualifying
relative criteria.
An ex-spouse can qualify as a member of the household in a year following that of the
divorce. - THE CORRECT ANSWERS IS -true
Indicate whether the following items are "Included" in or "Excluded" from gross income
for tax purposes:
Alimony (pre-2019 divorce decree) - THE CORRECT ANSWERS IS -Included
Indicate whether the following items are "Included" in or "Excluded" from gross income
for tax purposes.
Gifts - THE CORRECT ANSWERS IS -Excluded
Indicate whether the following items are "Included" in or "Excluded" from gross income
for tax purposes.
Child Support Payments - THE CORRECT ANSWERS IS -Excluded
Indicate whether the following items are "Included" in or "Excluded" from gross income
for tax purposes.
