HS321: Chpt 4

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0 [{"id":378232,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"The kiddie tax applies only to income from assets received from a child's parents. [4]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":12,"explanation":"The kiddie tax rules generally apply to unearned income of a child, regardless of whether the income-producing assets were received from the child\u2019s parents.","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378233,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"Corporations are generally required to file tax returns by the\u00a015th day of the fourth month after the close of their taxable year.\u00a0[5]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":13,"explanation":null,"question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378223,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"A taxpayer who may be claimed as a dependent of another taxpayer will also be entitled to a personal exemption for himself or herself. [2]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":3,"explanation":"If a taxpayer can be claimed as a dependent of another taxpayer, that person is not entitled to a personal exemption for himself or herself.","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378231,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"Under the kiddie tax rules, net unearned income of a child under a specified age is taxed at the marginal rate of the child's parents. [4]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":11,"explanation":null,"question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378222,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"For tax years beginning in 2013, taxpayers with adjusted gross income over $250,000 are subject to an overall limitation on their itemized deductions. [2]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":2,"explanation":null,"question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378229,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"To file as a surviving spouse, a taxpayer must maintain a residence for a child of the taxpayer for whom he or she is entitled to a dependency exemption. [3]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":9,"explanation":null,"question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378221,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"The standard deduction for all individual taxpayers is $3,800. [2]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":1,"explanation":"The standard deduction amount varies according to the taxpayer\u2019s filing status. These amounts are indexed annually for inflation.","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378224,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"In order for an individual to be treated as a qualifying child of the taxpayer under the dependency exemption rules, that individual must not have provided more than half of his or her own support during the year. [2]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":4,"explanation":null,"question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378226,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"The phaseout of a deduction or a tax credit can increase the effective rate of tax that taxpayers actually pay. [2]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":6,"explanation":null,"question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378228,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"The lowest marginal rate of tax on ordinary income is currently 25 percent. [3]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":8,"explanation":"The lowest marginal rate is currently 10 percent.","question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378230,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"A taxpayer can qualify as a head of household by maintaining a parent in a nursing home. [3]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":10,"explanation":null,"question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378220,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"A deductible contribution to an IRA is an above-the-line deduction. [1]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":0,"explanation":null,"question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378227,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"A noncustodial parent may claim the child as a dependent if the custodial parent signs a written declaration agreeing not to claim the exemption for that year. [2]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":7,"explanation":null,"question_score_id":null,"lang":null,"questionAudioPath":null},{"id":378225,"quiz_id":"19347","answer_id":null,"answerType_id":"0","created_at":"2018-02-13 05:51:25","updated_at":"2018-03-10 03:53:24","questionName":"A father can claim a dependency exemption for his 18-year-old married daughter who files a joint return with her spouse who has substantial income. [2]","questionTimeSeconds":"0","questionTimeMinutes":"2","questionImagePath":null,"position":5,"explanation":"A taxpayer may generally not claim a personal exemption for a child who is married and files a joint return with his or her spouse.","question_score_id":null,"lang":null,"questionAudioPath":null}]
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The kiddie tax applies only to income from assets received from a child's parents. [4]

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