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Jennifer Kast
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Decks in this class (21)
Chapter 1
A History of The Income Tax Law and a Glance at the Source of Current Law
31
cards
Chapter 2
What are 15 items that are specif...,
How is the tax concept of income ...,
Don purchases stock at 30 a share...
8
cards
Chapter 3 Questions
What is adjusted gross income,
List several items that are deduc...,
What is the standard deduction an...
20
cards
Chapter 4 Questions
Wife gives husband rent free use ...,
Group term life insurance plans o...,
The advantage of making the sec 8...
7
cards
Chapter 5 Questions
If a gift of property is excludib...,
Interest on all us treasury oblig...,
Amounts received from a worker s ...
14
cards
Chapter 6 Questions
It is ordinary for a landlord to ...,
A business owner cannot deduct as...,
A small business cannot deduct th...
11
cards
Chapter 7 Questions
A taxpayer who owns stock that ha...,
No deduction is allowed for a los...,
A taxpayer may take a loss deduct...
6
cards
Chapter 8 Questions
A business purchase of a warehous...,
Repairs to a business s van would...,
Repairs to an individual s commut...
15
cards
Chapter 9 Questions
A 1 000 credit is more valuable t...,
Phaseouts reduce or eliminate cer...,
The child tax credit can reduce a...
9
cards
Chapter 10 Questions
3 year property class,
5 year property class,
7 year property class
20
cards
Chapter 11 Questions
A taxpayer with 20 000 in passive...,
Passive loss limitations do not a...,
Active participants in a rental a...
6
cards
Chapter 12 Questions
A gain is recognized when it is t...,
Depreciation taken on business pr...,
When selling shares of stock the ...
12
cards
Chapter 13 Questions
Capital assets receive more favor...,
A long term holding period applie...,
The most common capital gains tax...
6
cards
Chapter 14 Questions
Theft casualty losses are not tax...,
The standard deduction is added t...,
Charitable contributions are not ...
9
cards
Chapter 15 Questions
Accelerated benefits from a life ...,
If a beneficiary could take a lum...,
A physician s diagnosis is requir...
14
cards
Chapter 16 Questions
Mec treatment means policy loans ...,
It is possible to remove mec trea...,
Initially passing the 7 pay test ...
4
cards
Chapter 17 Questions
As separate legal entities corpor...,
Owners can limit the transferabil...,
C corporations offer shareholders...
14
cards
Chapter 18 Questions
Qualified dividends from preferre...,
Dividends are taxed according to ...,
Distributions considered a return...
9
cards
Chapter 19 Questions
Partnerships must file their own ...,
Each partner can decide whether t...,
No gain must be recognized at par...
10
cards
Sample Exam 1
Smith and jones formed a partners...,
Which of the following statements...,
Michael and mary a married couple...
101
cards
Sample Exam 2
Which of the following statements...,
Which of the following nontaxable...,
Which of the following types of p...
13
cards
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HS 321 - Dec 2019 Chapter Review
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