MCGRAW-HILL'S TAXATION OF
INDIVIDUALS AND BUSINESS ENTITIES
2024 QUESTIONS WITH CORRECT
FormB1040B-BcorrectBanswer-U.S.BIndividualBIncomeBTaxBReturn
ScheduleB1B-BcorrectBanswer-AdditionalBIncomeBandBAdjustmentsBtoBIncome
ScheduleB2B-BcorrectBanswer-Tax
ScheduleB3B-BcorrectBanswer-NonrefundableBCredits
ScheduleB4B-BcorrectBanswer-OtherBTaxes
ScheduleB5B-BcorrectBanswer-OtherBPaymentsBandBRefundableBCredits
ScheduleBAB-BcorrectBanswer-ItemizedBDeductions
ScheduleBBB-BcorrectBanswer-InterestBandBOrdinaryBDividends
ScheduleBCB-BcorrectBanswer-ProfitBorBLossBFromBBusiness
ScheduleBDB-BcorrectBanswer-CapitalBGainsBandBLosses
FormB8949B-BcorrectBanswer-SalesBandBOtherBDispositionsBofBCapitalBAssets
ScheduleBEB-BcorrectBanswer-SupplementalBIncomeBandBLoss
ScheduleBSEB-BcorrectBanswer-Self-EmploymentBTax
, FormB1065B-BcorrectBanswer-U.S.BReturnBofBPartnershipBIncome
ScheduleBK-1B-BcorrectBanswer-Partner'sBShareBofBIncome,BDeductions,BCredits,Betc.
FormB1120B-BcorrectBanswer-U.S.BCorporationBIncomeBTaxBReturn
FormB1120SB-BcorrectBanswer-U.S.BIncomeBTaxBReturnBforBanBSBCorporation
ScheduleBK-1B-BcorrectBanswer-Shareholder'sBShareBofBIncome,BDeductions,BCredits,Betc.
ScheduleBM-3B-BcorrectBanswer-NetBIncomeB(Loss)BReconciliationBforBCorporations
FormB706B-BcorrectBanswer-UnitedBStatesBEstateB(andBGeneration-SkippingBTransfer)BTaxBReturn
FormB709B-BcorrectBanswer-UnitedBStatesBGiftB(andBGeneration-SkippingBTransfer)BTaxBReturn
83(b)BelectionB-BcorrectBanswer-
aBspecialBtaxBelectionBthatBemployeesBwhoBreceiveBrestrictedBstockBorBotherBpropertyBwithBownershipBrest
rictionsBcanBmakeBtoBaccelerateBincomeBrecognitionBfromBtheBnormalBdateBwhenBrestrictionsBlapseBtoBtheB
dateBwhenBtheBrestrictedBstockBorBotherBpropertyBisBgranted.BTheBelectionBalsoBacceleratesBtheBemployer'
sBcompensationBdeductionBrelatedBtoBtheBrestrictedBstockBorBotherBproperty.
§162(m)BlimitationB-BcorrectBanswer-theB$1BmillionBdeductionBlimitBonBnonperformance-
basedBsalaryBpaidBtoBcertainBkeyBexecutives.
§179BexpenseB-BcorrectBanswer-
anBincentiveBforBsmallBbusinessesBthatBallowsBthemBtoBimmediatelyBexpenseBaBcertainBamountBofBtangibleB
personalBpropertyBplacedBinBserviceBduringBtheByear.
INDIVIDUALS AND BUSINESS ENTITIES
2024 QUESTIONS WITH CORRECT
FormB1040B-BcorrectBanswer-U.S.BIndividualBIncomeBTaxBReturn
ScheduleB1B-BcorrectBanswer-AdditionalBIncomeBandBAdjustmentsBtoBIncome
ScheduleB2B-BcorrectBanswer-Tax
ScheduleB3B-BcorrectBanswer-NonrefundableBCredits
ScheduleB4B-BcorrectBanswer-OtherBTaxes
ScheduleB5B-BcorrectBanswer-OtherBPaymentsBandBRefundableBCredits
ScheduleBAB-BcorrectBanswer-ItemizedBDeductions
ScheduleBBB-BcorrectBanswer-InterestBandBOrdinaryBDividends
ScheduleBCB-BcorrectBanswer-ProfitBorBLossBFromBBusiness
ScheduleBDB-BcorrectBanswer-CapitalBGainsBandBLosses
FormB8949B-BcorrectBanswer-SalesBandBOtherBDispositionsBofBCapitalBAssets
ScheduleBEB-BcorrectBanswer-SupplementalBIncomeBandBLoss
ScheduleBSEB-BcorrectBanswer-Self-EmploymentBTax
, FormB1065B-BcorrectBanswer-U.S.BReturnBofBPartnershipBIncome
ScheduleBK-1B-BcorrectBanswer-Partner'sBShareBofBIncome,BDeductions,BCredits,Betc.
FormB1120B-BcorrectBanswer-U.S.BCorporationBIncomeBTaxBReturn
FormB1120SB-BcorrectBanswer-U.S.BIncomeBTaxBReturnBforBanBSBCorporation
ScheduleBK-1B-BcorrectBanswer-Shareholder'sBShareBofBIncome,BDeductions,BCredits,Betc.
ScheduleBM-3B-BcorrectBanswer-NetBIncomeB(Loss)BReconciliationBforBCorporations
FormB706B-BcorrectBanswer-UnitedBStatesBEstateB(andBGeneration-SkippingBTransfer)BTaxBReturn
FormB709B-BcorrectBanswer-UnitedBStatesBGiftB(andBGeneration-SkippingBTransfer)BTaxBReturn
83(b)BelectionB-BcorrectBanswer-
aBspecialBtaxBelectionBthatBemployeesBwhoBreceiveBrestrictedBstockBorBotherBpropertyBwithBownershipBrest
rictionsBcanBmakeBtoBaccelerateBincomeBrecognitionBfromBtheBnormalBdateBwhenBrestrictionsBlapseBtoBtheB
dateBwhenBtheBrestrictedBstockBorBotherBpropertyBisBgranted.BTheBelectionBalsoBacceleratesBtheBemployer'
sBcompensationBdeductionBrelatedBtoBtheBrestrictedBstockBorBotherBproperty.
§162(m)BlimitationB-BcorrectBanswer-theB$1BmillionBdeductionBlimitBonBnonperformance-
basedBsalaryBpaidBtoBcertainBkeyBexecutives.
§179BexpenseB-BcorrectBanswer-
anBincentiveBforBsmallBbusinessesBthatBallowsBthemBtoBimmediatelyBexpenseBaBcertainBamountBofBtangibleB
personalBpropertyBplacedBinBserviceBduringBtheByear.