Question 1 (1 point) Wilsons spouse died in Year 1. Wilson did not...
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Accounting
Question 1 (1 point)
Wilsons spouse died in Year 1. Wilson did not remarry in Year 2 and lived alone the entire year. What is Wilsons Year 2 filing status?
Question 1 options:
a)
Surviving spouse.
b)
Head of household.
c)
Married filing jointly.
d)
Single.
Question 2 (1 point)
Sarah owns an apartment building. Out of the rents received each month, she pays herself a management fee. Where should she report her income?
Question 2 options:
a)
Schedule C only
b)
Both schedules C & E
c)
None of the above
d)
Schedule E only
Question 3 (1 point)
Which of the following tax credits can result in a refund even if the individual had no income tax liability?
Question 3 options:
a)
Child and dependent care credit
b)
Credit for prior year minimum tax
c)
Elderly and permanently and totally disabled credit
d)
Earned income credit
Question 4 (1 point)
Brittany is a 22-year-old student with earned income of $10,000 from a summer job and dividend income of $1,100. Her parents claim her as a dependent on their tax return. What is Brittany's basic standard deduction amount?
Question 4 options:
a)
$12,400
b)
$1,100
c)
$10,350
d)
$11,100
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