,TABLE OF CONTENTS a a a
1. The Individual Income Tax Return.
a a a a a
2. Gross Income and Exclusions.
a a a a
3. Business Income and Expenses, Part I.
a a a a a a
4. Business Income and Expenses, Part II.
a a a a a a
5. Itemized Deductions and Other Incentives.
a a a a a
6. Credits and Special Taxes.
a a a a
7. Accounting Periods and Methods and Depreciation.
a a a a a a
8. Capital Gains and Losses.
a a a a
9. Withholding, Estimated Payments, and Payroll Taxes.
a a a a a a
10. Partnership Taxation.
a a
11. The Corporate Income Tax.
a a a a
12. Tax Administration and Tax Planning.
a a a a a
,Chapter 1: The Individual Income Tax Return
a a a a a a
1. Aacorporationaisaaareportingaentityabutanotaaatax-payingaentity.
FALSE
2. Partnershipacapitalagainsaandalossesaareaallocatedaseparatelya toaeachaofatheapartners.
TRUE
3. Marrieda taxpayersa maya doublea theira standarda deductiona amounta bya filinga separateareturns.
FALSE
4. Anaitemaisanotaincludedainagrossaincomeaunlessatheataxa lawaspecifiesathata theaitemaisasubjectatoata
xation.
FALSE
5. Forataxpayersawhoadoa nota itemizeadeductions,atheastandarda deductiona amountaisasubtractedaf
romatheataxpayer'saadjustedagrossaincome.
TRUE
6. Aataxpayerawithaself-employmentaincomeaofa$600amustafileaaataxareturn.
TRUE
7. Aadependentachildawithaearnedaincomea inaexcessaofatheaavailableastandarda deductionaamountamus
tafileaaataxareturn.
TRUE
8. Aasingleataxpayer,awhoaisa nota blinda andawhoa isaunderaagea65,a witha incomea ofa$8,750amustafileaaa
taxareturn.
FALSE
, 9. Ifaaataxpayeraisadueaaarefund,aitawillabeamailedatoatheataxpayeraregardlessaofawhetheraheaorasheafilesaaat
axareturn.
FALSE
10. Taxpayersawithaself-employmentaincomeaofa$400aoramoreamustafileaaataxareturn.
TRUE
11. Ifa youra spouseadiesa duringa thea taxayeara anda youadoanota remarry,a youa mustafilea asasingleaforat
heayearaofadeath.
FALSE
12. Taxpayersawhoadoanotaqualifyaforamarried,aheadaofahousehold,aoraqualifyingawidowaorawidowerafi
lingastatusamustafileaasasingle.
TRUE
13. Ifaanaunmarriedataxpayerapaidamoreathanahalfatheacostaofakeepingaaahomeawhichaisatheaprincipalapla
ceaofaresidenceaofaaanephew,awhoaisanotaheradependent,asheamayauseatheaheadaofahouseholdafilingastatus
.
FALSE
14. Theamaximumaofficialaindividualaincomeataxarateafora2012aisa35apercent.
TRUE
15. Allataxpayersamayauseatheataxarateascheduleatoadetermineatheirataxaliability.
FALSE
16. Theaheadaofahouseholdataxaratesaareahigherathanathearatesaforaaasingleataxpayer.
FALSE
17. Mosta statesa area communitya propertya states.
FALSE
1. The Individual Income Tax Return.
a a a a a
2. Gross Income and Exclusions.
a a a a
3. Business Income and Expenses, Part I.
a a a a a a
4. Business Income and Expenses, Part II.
a a a a a a
5. Itemized Deductions and Other Incentives.
a a a a a
6. Credits and Special Taxes.
a a a a
7. Accounting Periods and Methods and Depreciation.
a a a a a a
8. Capital Gains and Losses.
a a a a
9. Withholding, Estimated Payments, and Payroll Taxes.
a a a a a a
10. Partnership Taxation.
a a
11. The Corporate Income Tax.
a a a a
12. Tax Administration and Tax Planning.
a a a a a
,Chapter 1: The Individual Income Tax Return
a a a a a a
1. Aacorporationaisaaareportingaentityabutanotaaatax-payingaentity.
FALSE
2. Partnershipacapitalagainsaandalossesaareaallocatedaseparatelya toaeachaofatheapartners.
TRUE
3. Marrieda taxpayersa maya doublea theira standarda deductiona amounta bya filinga separateareturns.
FALSE
4. Anaitemaisanotaincludedainagrossaincomeaunlessatheataxa lawaspecifiesathata theaitemaisasubjectatoata
xation.
FALSE
5. Forataxpayersawhoadoa nota itemizeadeductions,atheastandarda deductiona amountaisasubtractedaf
romatheataxpayer'saadjustedagrossaincome.
TRUE
6. Aataxpayerawithaself-employmentaincomeaofa$600amustafileaaataxareturn.
TRUE
7. Aadependentachildawithaearnedaincomea inaexcessaofatheaavailableastandarda deductionaamountamus
tafileaaataxareturn.
TRUE
8. Aasingleataxpayer,awhoaisa nota blinda andawhoa isaunderaagea65,a witha incomea ofa$8,750amustafileaaa
taxareturn.
FALSE
, 9. Ifaaataxpayeraisadueaaarefund,aitawillabeamailedatoatheataxpayeraregardlessaofawhetheraheaorasheafilesaaat
axareturn.
FALSE
10. Taxpayersawithaself-employmentaincomeaofa$400aoramoreamustafileaaataxareturn.
TRUE
11. Ifa youra spouseadiesa duringa thea taxayeara anda youadoanota remarry,a youa mustafilea asasingleaforat
heayearaofadeath.
FALSE
12. Taxpayersawhoadoanotaqualifyaforamarried,aheadaofahousehold,aoraqualifyingawidowaorawidowerafi
lingastatusamustafileaasasingle.
TRUE
13. Ifaanaunmarriedataxpayerapaidamoreathanahalfatheacostaofakeepingaaahomeawhichaisatheaprincipalapla
ceaofaresidenceaofaaanephew,awhoaisanotaheradependent,asheamayauseatheaheadaofahouseholdafilingastatus
.
FALSE
14. Theamaximumaofficialaindividualaincomeataxarateafora2012aisa35apercent.
TRUE
15. Allataxpayersamayauseatheataxarateascheduleatoadetermineatheirataxaliability.
FALSE
16. Theaheadaofahouseholdataxaratesaareahigherathanathearatesaforaaasingleataxpayer.
FALSE
17. Mosta statesa area communitya propertya states.
FALSE
