Candidate: |
VICTORIA CROSS |
User Identifier 2: |
VICTORIAECROSS@AOL.COM |
User Identifier 3: |
NONE |
Quiz Title: |
Topic 22 - Investment Income and Expenses - Quiz |
Overall Result: |
FAIL |
Overall Score: |
130/200 |
Percentage Score: |
65 |
Passing Percentage: |
70 |
Time Results Received: |
May 1, 02:35:10, 2011 |
Time Spent: |
00:26:33 |
Question Reference |
Answer |
Score |
Time |
The following interest income is not taxable |
d |
10 |
641.91s |
Interest on insurance dividends left on deposit with an insu |
b |
10 |
48.77s |
Stock dividends are distributions made by a corporation of i |
a |
0 |
336.54s |
You must give your name and ____________to any person requir |
a |
10 |
5.94s |
In 2009, your father gave you a gift of property with a fair |
c |
0 |
88.89s |
This debt instrument is issued for a price that is less than |
a |
10 |
187.13s |
Which of the following determines the basis of property rece |
c |
10 |
27.18s |
Which of the following is an example of nonqualified preferr |
d |
10 |
9.48s |
If you make a below-market gift or demand loan, you |
b |
10 |
21.40s |
The basis of property you buy is usually its cost In determ |
d |
10 |
5.73s |
Karen transferred property with an adjusted basis of $45,000 |
c |
0 |
14.69s |
You will be subject to a penalty if, when required, you fail |
a |
0 |
8.31s |
If you sold or traded investment property, you must determin |
d |
10 |
6.43s |
Series I bonds were first offered in 1998 These are inflati |
c |
10 |
81.54s |
You open a savings account at your local bank and deposit $8 |
b |
10 |
21.58s |
In 2005, Mark purchased 100 shares of Roman, Inc for $10 pe |
c |
0 |
10.61s |
Edwards owns 5 of the 1,000 outstanding shares of Wasco, Inc |
d |
10 |
32.38s |
Sandra sold her Lavender Corporation stock to her mother Bet |
d |
0 |
12.87s |
Frank sold his Ranier Corporation stock to his sister Bernie |
d |
10 |
17.48s |
You can deduct expenses you incur to produce tax-exempt inco |
a |
0 |
14.33s |
Candidate: |
VICTORIA CROSS |
User Identifier 2: |
VICTORIAECROSS@AOL.COM |
User Identifier 3: |
NONE |
Quiz Title: |
Topic 22 - Investment Income and Expenses - Assignment |
Overall Result: |
PASS |
Overall Score: |
140/200 |
Percentage Score: |
70 |
Passing Percentage: |
70 |
Time Results Received: |
May 1, 02:07:10, 2011 |
Time Spent: |
00:02:14 |
Question Reference |
Answer |
Score |
Time |
1 Look at the Form 1040 you prepared for Raul Beltrán What |
a |
0 |
4.84s |
2 Look at the Form 1040 you prepared for Raul Beltran What |
d |
0 |
9.04s |
3 Common kinds of distributions by a corporation to shareho |
d |
10 |
5.19s |
4 Edwards owns 5 of the 1,000 outstanding shares of Wasco, |
d |
10 |
3.53s |
5 In 2004, Ralph received 10 shares of White Corporation st |
b |
10 |
4.42s |
6 In 2005, Mark purchased 100 shares of Roman, Inc for $10 |
c |
0 |
4.83s |
7 The basis of property you buy is usually its cost In det |
d |
10 |
3.83s |
8 Warren purchased stock in 2007 for $10,000 In 2008 Warre |
b |
10 |
5.05s |
9 Arnold acquired 10 shares of Klesco, Inc stock in 2005 f |
c |
10 |
4.94s |
10 Sandra sold her Lavender Corporation stock to her mother |
d |
0 |
10.47s |
11 Wargo Corporation has two equal shareholders, Karen and |
b |
10 |
5.53s |
12 Which of the following is an example of nonqualified pre |
d |
10 |
3.51s |
13 Karen transferred property with an adjusted basis of $45 |
c |
0 |
4.08s |
14 Robert sold his Lebec Corporation stock to his sister Ka |
b |
0 |
8.17s |
15 Frank sold his Ranier Corporation stock to his sister Be |
d |
10 |
4.45s |
16 You must attach Schedule B (or Schedule 1 for Form 1040A |
c |
10 |
3.39s |
17 You must give your name and ____________to any person re |
a |
10 |
5.04s |
18 You will be subject to a penalty if, when required, you |
d |
10 |
31.86s |
19 Your investment income is subject to 28% backup withhold |
d |
10 |
8.76s |
20 In determining the tax treatment of different types of i |
d |
10 |
3.97s |
Candidate: |
VICTORIA CROSS |
User Identifier 2: |
VICTORIAECROSS@AOL.COM |
User Identifier 3: |
NONE |
Quiz Title: |
Topic 20 - Tax Deduction for Depreciation - Assignment |
Overall Result: |
FAIL |
Overall Score: |
100/200 |
Percentage Score: |
50 |
Passing Percentage: |
70 |
Time Results Received: |
May 1, 01:56:25, 2011 |
Time Spent: |
00:03:46 |
Question Reference |
Answer |
Score |
Time |
1 Look at the Form 1040 you prepared for Jim Samuels What |
d |
0 |
17.78s |
2 Look at the Form 1040 you prepared for Jim Samuels What |
a |
0 |
12.63s |
3 The maximum section 179 expense you can elect to deduct f |
b |
10 |
6.94s |
4 Bob purchased a building and land to use in his business |
d |
0 |
6.05s |
5 Henry exchanged an apartment building with a adjusted bas |
b |
0 |
12.44s |
6 James bought and placed in service computer equipment in |
b |
10 |
3.79s |
7 In 2009, Judy placed in service a machine that cost $207, |
b |
0 |
17.56s |
8 Mike purchased a building lot in 2006 for $25,000 and con |
c |
0 |
5.30s |
9 Arlene traded her old computer that she used in her busin |
c |
10 |
6.02s |
10 John purchased a new gasoline-electric hybrid automobile |
b |
10 |
12.89s |
11 Pat Snow bought a truck weighing 8,000 lbs She uses the |
b |
10 |
3.17s |
12 The DL Partnership bought a truck for $28,000 and a tra |
d |
0 |
26.69s |
13 The KL Partnership owned the following tangible propert |
d |
10 |
11.33s |
14 Mike and Joe are equal partners in the Dandy Partnership |
a |
0 |
3.96s |
15 James is a 50% partner in the AM Partnership The partn |
b |
10 |
44.45s |
16 As of December 31, 2009, John is a 50% shareholder of XY |
c |
0 |
10.69s |
17 Mary is the sole shareholder of A Company, Inc (an S Co |
d |
0 |
3.39s |
18 Depreciation is an annual income tax deduction that allo |
a |
10 |
13.60s |
19 Property that can be depreciated is property for which y |
d |
10 |
4.37s |
20 You can depreciate most types of tangible and intangible |
d |
10 |
3.81s |
Candidate: |
VICTORIA CROSS |
User Identifier 2: |
VICTORIAECROSS@AOL.COM |
User Identifier 3: |
NONE |
Quiz Title: |
Topic 25 - Selling Your Home - Assignment |
Overall Result: |
PASS |
Overall Score: |
140/200 |
Percentage Score: |
70 |
Passing Percentage: |
70 |
Time Results Received: |
Apr 29, 01:23:09, 2011 |
Time Spent: |
00:02:39 |
Question Reference |
Answer |
Score |
Time |
1 Look at the Form 1040 you prepared for Karen Ortega What |
d |
0 |
4.20s |
2 Look at the Form 1040 you prepared for Karen Ortega What |
a |
0 |
4.21s |
3 You may qualify to exclude from your income all or part o |
c |
10 |
9.10s |
4 You can exclude up to $250,000 of the gain on the sale of |
d |
10 |
2.50s |
5 You should keep records to prove you home s adjusted basi |
d |
10 |
6.13s |
6 You can exclude up to $500,000 of the gain on the sale of |
d |
10 |
5.30s |
7 Which of the following qualifies for exclusion from incom |
b |
10 |
4.29s |
8 The required two years of having owned and lived in a pri |
a |
0 |
4.33s |
9 You owned and lived in your house from January 1, 2008 un |
d |
10 |
4.29s |
10 If part of your property used for business or to produce |
a |
10 |
8.94s |
11 Report gain on the sale or exchange of property held for |
a |
0 |
2.32s |
12 If your spouse died and you did not remarry before the d |
a |
10 |
3.34s |
13 The sale of your main home is because of health if your |
d |
10 |
5.42s |
14 Unforeseen circumstances are considered to be the reason |
d |
10 |
56.05s |
15 If you sold your home that was acquired in a like-kind e |
c |
10 |
4.79s |
16 If the buyer paid your share of the taxes (or any delinq |
b |
10 |
4.22s |
17 If you financed your home under a federally subsidized p |
b |
0 |
4.19s |
18 Recapture of the federal mortgage subsidy applies if |
d |
10 |
6.94s |
19 To exclude gain from the sale of your home, you generall |
a |
0 |
4.47s |
20 You own a house, but you live in another house that your |
b |
10 |
14.16s |
Candidate: |
VICTORIA CROSS |
User Identifier 2: |
VICTORIAECROSS@AOL.COM |
User Identifier 3: |
NONE |
Quiz Title: |
Topic 25 - Selling Your Home - Quiz |
Overall Result: |
PASS |
Overall Score: |
170/200 |
Percentage Score: |
85 |
Passing Percentage: |
70 |
Time Results Received: |
Apr 29, 01:43:53, 2011 |
Time Spent: |
00:19:04 |
Question Reference |
Answer |
Score |
Time |
If you claimed the first-time homebuyer credit in 2008, you |
c |
10 |
94.47s |
You owned and lived in your house from January 1, 2008 until |
d |
10 |
13.30s |
Report gain on the sale or exchange of property held for per |
a |
0 |
16.84s |
The sale of your main home is because of health if your prim |
d |
10 |
7.66s |
Recapture of the Federal Mortgage subsidy applies only if yo |
b |
10 |
163.52s |
Recapture of the federal mortgage subsidy applies if |
d |
10 |
16.07s |
If your spouse died and you did not remarry before the date |
a |
10 |
17.17s |
Which of the following qualifies for exclusion from income o |
b |
10 |
22.02s |
If you sold stock as a tenant-shareholder in a cooperative h |
d |
0 |
157.64s |
The following is an example of using part of your property a |
d |
10 |
24.35s |
You can exclude up to $250,000 of the gain on the sale of yo |
d |
10 |
8.42s |
For periods on or after January 1, 2009 gain from the sale o |
a |
10 |
139.57s |
If the buyer paid your share of the taxes (or any delinquent |
b |
10 |
17.34s |
You own a house, but you live in another house that your ren |
b |
10 |
7.24s |
If you sold your home that was acquired in a like-kind excha |
c |
10 |
9.27s |
If you financed the buyer s purchase of your home yourself, |
b |
10 |
192.67s |
You may qualify to exclude from your income all or part of a |
c |
10 |
48.35s |
You cannot deduct transfer taxes, stamp taxes, and other inc |
a |
10 |
34.03s |
Unforeseen circumstances are considered to be the reason for |
d |
10 |
5.98s |
You and the buyer must deduct the real estate taxes on your |
b |
0 |
149.03s |