Test Bank For McGraw-Hill's Essentials of Federal Taxation 2023 Edition, 14th Edition by Spilker Chapter 1-17

Version 1
b 1

, McGraw-Hill's Essentials ofFederal Taxation b b b b




TABLE OF CONTENTS b b




Part I: Introduction to Taxation
b b b b




Chapter 1: An Introduction to Tax
b b b b b




Chapter 2: Tax Compliance, the IRS, and Tax Authorities
b b b b b b b b




b Chapter 3: Tax Planning Strategies and Related Limitations
b b b b b b b




Part II: Individual Taxation
b b b




Chapter 4: ndividual Income Tax Overview, Dependents, and Filing Status Chapter
b b b b b b b b b b




b 5: Gross Income and Exclusions
b b b b




Chapter 6: Individual For AGI Deductions
b b b b b




b Chapter 7: Individual From AGI Deductions
b b b b b




Chapter 8: Individual Income Tax Computation and Tax Credits
b b b b b b b b




Part III: Business-Related Transactions
b b b




Chapter 9: Business Income, Deductions, and Accounting Methods
b b b b b b b




b Chapter 10: Property Acquisition and Cost Recovery
b b b b b b




Chapter 11: Property Dispositions
b b b




Part IV: Entity Overview and Taxation of C Corporations
b b b b b b b b




Chapter 12: Business Entities Overview
b b b b




Chapter 13: Corporate Formations and Operations
b b b b b




Chapter 14: Corporate Nonliquidating and Liquidating Distributions
b b b b b b




Version 1 b 2

, McGraw-Hill's Essentials ofFederal Taxation
b b b b




Part V: Taxation of Flow-Through Entities
b b b b b




Chapter 15: Forming and Operating Partnerships
b b b b b




Chapter 16: Dispositions of Partnership Interests and Partnership Distributions
b b b b b b b b




b Chapter 17: S Corporations
b b b




Version 1 b 3

, McGraw-Hill's Essentials ofFederal Taxation b b b b




Chapter 1: An Introduction to Tax answers
b b b b b b




at the end of every chapters
b b b b b b




Student name: b




1) The following are a series of tables that may be referred to in several
b b b b b b b b b b b b b




b questions throughout your test. Please refer to these tables as needed or as directed.
b b b b b b b b b b b b b




b 2023 Tax Rate Schedules Individuals
b b b b Schedule X-Single b




If taxable income is over:
b b b b Butnot over:
b b The tax is: b b




$0 b $ 9,950
b 10% of taxable income
b b b




$ 9,950 b $ 40,525 b $995 plus 12% of the excess over
b b b b b b




$9,950
$ 40,525b $ 86,375 b $4,664 plus 22% of the excess over
b b b b b b




$40,525
$ 86,375b $ 164,925
b $14,751 plus 24% of the excess over b b b b b b




$86,375
$ 164,925
b $ 209,425
b $33,603 plus 32% of the excess over b b b b b b




$164,925
$ 209,425
b $ 523,600
b $47,843 plus 35% of the excess over b b b b b b




$209,425
$ 523,600
b — $157,804.25 plus 37% of the excess b b b b b




over $523,600 b




Schedule Y-1-Married Filing Jointly or Qualifying Widow(er)
b b b b b b




If taxable income is over:
b b b b Butnot over:
b b The tax is: b b




$0 b $ 19,900b 10% of taxable income
b b b




$ 19,900b $ 81,050b $1,990 plus 12% of the excess over
b b b b b b




$19,900
$ 81,050b $ 172,750
b $9,328 plus 22% of the excess over
b b b b b b




$81,050
$ 172,750
b $ 329,850
b $29,502 plus 24% of the excess over b b b b b b




$172,750
$ 329,850
b $ 418,850
b $67,206 plus 32% of the excess over b b b b b b




$329,850


Version 1 b 4