Question :
Q1 A couple, age 50, 52, file a joint return for 2012, the couple claims their son as a dependent. The wife is officially blind. For purposes of the need to file a tax return, the gross income threshold for the couple is__________
Q2 Taxpayer can't take the earned income credit if they have qualified income in excess of ___________
Q3 Taxpayers report state income tax refunds as income only if they get a ____________ from its deduction in a prior year.
Q4 Under an adoption assistance program, employees can exclude up to _______ Of employer paid adoption expense for a healthy child.
Q5 A taxpayer pays $2400 in points when taking out a 15year loan to purchase a vacation home. If the purchase of the home take place on Sept.1 2012, the taxpayer deducts______ as points on his 2012schedule
Q6 Activities are usually treated as a business if over a 5year period they can show a profit in __________years.
Q7 An__________reimbursement plan needs that employees return any excess reimbursement to their employer.
Q8 Rusty received a $35,000 salary in the current year. In additon, Rusty had a long-term capital loss of $3100, a long-term capital profit of $2000 and a short-term capital loss of $100, what is Rusty's adjust gross income if they are the only item to consider
A 21,800
B 33800
C none of the other choices
D 35000
E 23000
Q9 Bobby( unmarried, age66) maintains a household where his elderly father( age88) lives. Bobby will not claim his father as a dependent because his father does not pass the gross income test. Bobby's 2012 standard deduction is
A 7100
B 5950
C 10150
D 8700
E 7400
Q10 A dependent's only income for 2012 is $5800 of taxable wages and $640 of taxable interest on a saving account. The dependent's 2012 taxable income is
A 340
B 940
C none of the other choices
D 490
E 0