TEST BANK FOR INCOME TAX FUNDAMENTALS 2025, 43RD EDITION BY WHITTENBURG, GILL/ ALL CHAPTERS 1-12

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,TABLE OF CONTENTS k k k




1. The Individual Income Tax Return.
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2. Gross Income and Exclusions.
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3. Business Income and Expenses, Part I.
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4. Business Income and Expenses, Part II.
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5. Itemized Deductions and Other Incentives.
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6. Credits and Special Taxes.
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7. Accounting Periods and Methods and Depreciation.
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8. Capital Gains and Losses.
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9. Withholding, Estimated Payments, and Payroll Taxes.
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10. Partnership Taxation.
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11. The Corporate Income Tax.
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12. Tax Administration and Tax Planning.
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, Chapter 1: The Individual Income Tax Return
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1. Akcorporationkiskakreportingkentitykbutknotkaktax-payingkentity.
FALSE



2. Partnershipk capitalkgainskandklossesk arekallocatedkseparatelyktok eachkofkthekpartners.
TRUE



3. Marriedk taxpayersk mayk doublek theirk standardk deductionk amountk byk filingk separatekreturns.
FALSE



4. Ankitemkisknotkincludedkinkgrosskincomekunlesskthektaxklawkspecifieskthatkthekitemkisksubjectktokta
xation.
FALSE



5. Forktaxpayersk whokdok notk itemizekdeductions,kthekstandardk deductionk amountkisksubtractedkf
romkthektaxpayer'skadjustedkgrosskincome.
TRUE



6. Aktaxpayerkwithkself-employmentkincomekofk$600kmustkfilekaktaxkreturn.
TRUE



7. Akdependentk childk withkearnedkincomek ink excesskofkthek availablekstandardk deductionkamountkmus
tkfilekaktaxkreturn.
TRUE



8. Aksinglektaxpayer,k whokisk notk blindk andk whok iskunderk agek65,k withk incomek ofk$8,750kmustkfilekakt
axkreturn.
FALSE