Enrolled Agent BUNDLED Exams 2023 with 100% correct answers

Which of the following is income in respect of a decedent? A) Cash received from a grandmother's estate. B) Royalties received on the deceased father's published book; the right to receive these royalties was distributed from the father's estate. C) Certificate of deposit received as a gift. ...

Which form of business entity is not a legal entity separate and apart from its owner? A. Corporation B. Partnership C. Sole proprietorship D. S corporation - correct answer -C Under which circumstance is an entity required to apply for a new employer identification number? A. Proprietor...

What information does a preparer need to maintain for each return done? - correct answer -A preparer must maintain the taxpayer's name, tax ID number, taxable year of the taxpayer, name of the preparer, and the type of return or claim for refund prepared. Can you prepare tax returns when you are...

True or false: Foreign income you earned from wages or self-employment or any source from anywhere in the world is taxable for American citizens and most residents with certain exceptions - correct answer -True First exception for excluding foreign income - correct answer -An American residing ou...

Prior Year Return - correct answer helps prevent gross mathematical errors, identify significant changes AND comparison should result in similar amounts and tax liability or refund. Biographical Info. - correct answer DOB, age, marital status and dependents Nationality - correct answer Citizen...

tax filing flow - correct answer -filing requirement and status -income - income exclusion - adjust to income AGI (schedule1) - deduction - taxable income and taxation - additional tax (schedule2) - credits (schedule3) - payment (withholding) or refund qualifying relative - correct answer -1. liv...

Which payroll tax provides for future medical benefits? - correct answer -The Medicare tax is used to provide future medical benefits for individuals when they reach age 65. Workers, retired workers, and the spoused of both are eligible to receive Medicare benefits upon reaching age 65. What IRS ...

On which Schedule would a self-employed farmer report their income and loss? - correct answer -Schedule F What types of income are reported on Schedule E (Form 1040)? - correct answer -Income from rental real estate, royalties, partnerships, S corps, trusts, and estates. What are some situatio...

Apply the procedures regarding the modelling of domestic hot water systems - correct answer -HOT2000 User Guide 7.15.1 to 7.15.3, Appendix F Efficiency Rating type: select energy factor or uniform energy factor, if unknown, select energy factor If the Energy Factor radio button was selected...