ACCT 2000 LSU LOWE-ARDOIN FINAL: INCOME TAX AND FORMULAS
QUESTIONS WITH
CORRECT ANSWERS 2025/2026
Income uTax u Model u- uCORRECT uANSWER u -Gross uincome u - udeductions u = uAGI u-
standard/itemized udeduction u- uexemptions u= utaxable uincome ux utax urates u= utax
uliability u- ucredits uand upayments u- uamounts uowed
Single u - u CORRECT u ANSWER u -
Unmarried/legally useperated u or udivorced uand udo u not uqualify u for uanother ufiling ustatus
Married uFiling uJointly u - u CORRECT u ANSWER u-husband/wife u - uless u combined u tax u when u filed
u together
Married ufiling useperately u - uCORRECT u ANSWER u-only u helps u under u certain usituations u (high
u medical u bills)
Surviving uspouse/Qualifying u Widow u - uCORRECT uANSWER u -
Joint urates uapply ufor u2 uyears ufollowing uthe udeath uof uone uspouse umaintaing ua uhousehold uof
ua udependent uchild
Filing ustatus u is.. u- u CORRECT u ANSWER u-
used uto udetermine uthe uamount uof utax uper utax urate uschedule uand uhas uan uimpact uon uthe
uamount uof ustand u ard udeduction
Exemptions u- uCORRECT uANSWER u-
a usmall uamount uof uyour u income u ($4050) ushould u be u exempt u from u income u tax
Single uStandard uDeduction u- uCORRECT u ANSWER u-6300
MFJ uStandard uDeduction u- uCORRECT uANSWER u-12600
MFS uStandard uDeduction u- uCORRECT u ANSWER u-6300
QUESTIONS WITH
CORRECT ANSWERS 2025/2026
Income uTax u Model u- uCORRECT uANSWER u -Gross uincome u - udeductions u = uAGI u-
standard/itemized udeduction u- uexemptions u= utaxable uincome ux utax urates u= utax
uliability u- ucredits uand upayments u- uamounts uowed
Single u - u CORRECT u ANSWER u -
Unmarried/legally useperated u or udivorced uand udo u not uqualify u for uanother ufiling ustatus
Married uFiling uJointly u - u CORRECT u ANSWER u-husband/wife u - uless u combined u tax u when u filed
u together
Married ufiling useperately u - uCORRECT u ANSWER u-only u helps u under u certain usituations u (high
u medical u bills)
Surviving uspouse/Qualifying u Widow u - uCORRECT uANSWER u -
Joint urates uapply ufor u2 uyears ufollowing uthe udeath uof uone uspouse umaintaing ua uhousehold uof
ua udependent uchild
Filing ustatus u is.. u- u CORRECT u ANSWER u-
used uto udetermine uthe uamount uof utax uper utax urate uschedule uand uhas uan uimpact uon uthe
uamount uof ustand u ard udeduction
Exemptions u- uCORRECT uANSWER u-
a usmall uamount uof uyour u income u ($4050) ushould u be u exempt u from u income u tax
Single uStandard uDeduction u- uCORRECT u ANSWER u-6300
MFJ uStandard uDeduction u- uCORRECT uANSWER u-12600
MFS uStandard uDeduction u- uCORRECT u ANSWER u-6300