Enrolled Agent Exam Prep - Part 2
Questions and answers EXAM,
SOLUTIONS (MULTIPLE CHOICES)
100% correct 2025!!
Save
Terms in this set (111)
Allocation of Refund-Bank routing
Form 8888 number and account number must be
included on the form
Form 709 Federal Gift Tax Return
Eligible for the months that they are
enrolled in Medicare. A tax payer 55
HSA contribution or older at the end of the tax year
Limitation may make an additional catch-up
contribution of $1000. The standard
rate is $3600 per year
, Alternative for paying off a installment
agreement can be using a bank loan
IRS form 9465
or using available credit as a viable
alternative.
Foreign Tax Credit-Used to claim a
Form 1116
credit from a foreign tax paid
Different However both must use the same
accounting accounting. And are generally
methods are required to sign the return.
allowable for
filing jointly
Generally if there
is a prohibited
transaction in
connection with a
traditional IRA
account at any
time during the
year, the account
stops being an
IRA as of the first
day of the year.
,The basis for The fair market value of the property
depreciation is home on the date of the change. Or
the lesser of the your adjusted basis on the date of the
following change.
amounts when
you change your
home from
personal use to
business use.
A bequest is
excluded from
income even if
the bequest is
cash
If total non-Social
Security income
plus half of the
Social Security is
less than $32,000
if married filing
joint, none of the
Social Security is
taxable.
, If a tax payer is
covered by a
retirement plan at
work, their
contribution is not
deductible
because their AGI
is $125,000 or
more.
The TCJA
changed the
treatment of
alimony for
divorce decrees
entered into or
modified after
12/31/2018. Under
the new rules
alimony is no
longer a
deductible for the
pay your spouse,
and is not
included in
income of the
recipient spouse.
Questions and answers EXAM,
SOLUTIONS (MULTIPLE CHOICES)
100% correct 2025!!
Save
Terms in this set (111)
Allocation of Refund-Bank routing
Form 8888 number and account number must be
included on the form
Form 709 Federal Gift Tax Return
Eligible for the months that they are
enrolled in Medicare. A tax payer 55
HSA contribution or older at the end of the tax year
Limitation may make an additional catch-up
contribution of $1000. The standard
rate is $3600 per year
, Alternative for paying off a installment
agreement can be using a bank loan
IRS form 9465
or using available credit as a viable
alternative.
Foreign Tax Credit-Used to claim a
Form 1116
credit from a foreign tax paid
Different However both must use the same
accounting accounting. And are generally
methods are required to sign the return.
allowable for
filing jointly
Generally if there
is a prohibited
transaction in
connection with a
traditional IRA
account at any
time during the
year, the account
stops being an
IRA as of the first
day of the year.
,The basis for The fair market value of the property
depreciation is home on the date of the change. Or
the lesser of the your adjusted basis on the date of the
following change.
amounts when
you change your
home from
personal use to
business use.
A bequest is
excluded from
income even if
the bequest is
cash
If total non-Social
Security income
plus half of the
Social Security is
less than $32,000
if married filing
joint, none of the
Social Security is
taxable.
, If a tax payer is
covered by a
retirement plan at
work, their
contribution is not
deductible
because their AGI
is $125,000 or
more.
The TCJA
changed the
treatment of
alimony for
divorce decrees
entered into or
modified after
12/31/2018. Under
the new rules
alimony is no
longer a
deductible for the
pay your spouse,
and is not
included in
income of the
recipient spouse.
