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: |
110/200 |
Percentage Score: |
55 |
Passing Percentage: |
70 |
Time Results Received: |
Apr 2, 02:11:29, 2011 |
Time Spent: |
00:07:00 |
Question Reference |
Answer |
Score |
Time |
1 Look at the Form 1040 you prepared for Jim Samuels What |
a |
0 |
190.27s |
2 Look at the Form 1040 you prepared for Jim Samuels What |
a |
0 |
19.07s |
3 The maximum section 179 expense you can elect to deduct f |
b |
10 |
4.20s |
4 Bob purchased a building and land to use in his business |
d |
0 |
4.40s |
5 Henry exchanged an apartment building with a adjusted bas |
b |
0 |
4.33s |
6 James bought and placed in service computer equipment in |
b |
10 |
67.52s |
7 In 2009, Judy placed in service a machine that cost $207, |
a |
10 |
6.19s |
8 Mike purchased a building lot in 2006 for $25,000 and con |
c |
0 |
5.84s |
9 Arlene traded her old computer that she used in her busin |
c |
10 |
5.92s |
10 John purchased a new gasoline-electric hybrid automobile |
b |
10 |
5.90s |
11 Pat Snow bought a truck weighing 8,000 lbs She uses the |
b |
10 |
6.38s |
12 The DL Partnership bought a truck for $28,000 and a tra |
d |
0 |
7.68s |
13 The KL Partnership owned the following tangible propert |
d |
10 |
5.65s |
14 Mike and Joe are equal partners in the Dandy Partnership |
a |
0 |
13.06s |
15 James is a 50% partner in the AM Partnership The partn |
b |
10 |
44.24s |
16 As of December 31, 2009, John is a 50% shareholder of XY |
d |
0 |
2.78s |
17 Mary is the sole shareholder of A Company, Inc (an S Co |
d |
0 |
6.37s |
18 Depreciation is an annual income tax deduction that allo |
a |
10 |
14.21s |
19 Property that can be depreciated is property for which y |
d |
10 |
2.89s |
20 You can depreciate most types of tangible and intangible |
d |
10 |
3.44s |
Candidate: |
VICTORIA CROSS |
User Identifier 2: |
VICTORIAECROSS@AOL.COM |
User Identifier 3: |
NONE |
Quiz Title: |
Topic 20 - Tax Deduction for Depreciation - Quiz |
Overall Result: |
PASS |
Overall Score: |
110/150 |
Percentage Score: |
73 |
Passing Percentage: |
70 |
Time Results Received: |
Mar 26, 05:40:56, 2011 |
Time Spent: |
00:07:30 |
Question Reference |
Answer |
Score |
Time |
John purchased a new gasoline-electric hybrid automobile on |
b |
10 |
21.89s |
Normally, containers for the products you sell are part of i |
d |
10 |
28.53s |
To claim depreciation on property, you must use it in your b |
d |
0 |
10.92s |
Even if all the requirements are met to depreciate a propert |
c |
10 |
43.82s |
Generally, you adopt a method of accounting for depreciation |
d |
10 |
28.67s |
You can elect the Section 179 deduction for |
d |
10 |
52.43s |
James bought and placed in service computer equipment in 200 |
b |
10 |
25.10s |
Property that can be depreciated is property for which you c |
d |
10 |
15.07s |
If you buy qualifying property with cash and a trade-in its |
a |
0 |
26.51s |
As of December 31, 2009, John is a 50% shareholder of XYZ, I |
b |
0 |
37.54s |
The maximum section 179 expense you can elect to deduct for |
b |
10 |
23.26s |
Henry exchanged an apartment building with a adjusted basis |
b |
0 |
25.39s |
You can depreciate most types of tangible and intangible pro |
d |
10 |
16.10s |
By electing this method of depreciation you can choose to re |
a |
10 |
30.30s |
A building contractor who specializes in constructing office |
b |
10 |
64.57s |
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: |
130/200 |
Percentage Score: |
65 |
Passing Percentage: |
70 |
Time Results Received: |
Mar 26, 05:31:42, 2011 |
Time Spent: |
00:02:54 |
Question Reference |
Answer |
Score |
Time |
20 You can depreciate most types of tangible and intangible |
d |
10 |
5.15s |
19 Property that can be depreciated is property for which y |
d |
10 |
4.51s |
18 Depreciation is an annual income tax deduction that allo |
a |
10 |
8.77s |
17 Mary is the sole shareholder of A Company, Inc (an S Co |
d |
0 |
11.97s |
16 As of December 31, 2009, John is a 50% shareholder of XY |
d |
0 |
3.83s |
15 James is a 50% partner in the AM Partnership The partn |
b |
10 |
19.62s |
14 Mike and Joe are equal partners in the Dandy Partnership |
a |
0 |
10.90s |
13 The KL Partnership owned the following tangible propert |
d |
10 |
5.48s |
12 The DL Partnership bought a truck for $28,000 and a tra |
d |
0 |
6.15s |
11 Pat Snow bought a truck weighing 8,000 lbs She uses the |
b |
10 |
3.72s |
10 John purchased a new gasoline-electric hybrid automobile |
b |
10 |
10.99s |
9 Arlene traded her old computer that she used in her busin |
c |
10 |
16.16s |
8 Mike purchased a building lot in 2006 for $25,000 and con |
c |
0 |
6.06s |
7 In 2009, Judy placed in service a machine that cost $207, |
a |
10 |
4.77s |
6 James bought and placed in service computer equipment in |
b |
10 |
5.54s |
5 Henry exchanged an apartment building with a adjusted bas |
b |
0 |
14.82s |
4 Bob purchased a building and land to use in his business |
d |
0 |
7.01s |
3 The maximum section 179 expense you can elect to deduct f |
b |
10 |
5.22s |
2 Look at the Form 1040 you prepared for Jim Samuels What |
c |
10 |
4.48s |
1 Look at the Form 1040 you prepared for Jim Samuels What |
b |
10 |
19.18s |
Candidate: |
VICTORIA CROSS |
User Identifier 2: |
VICTORIAECROSS@AOL.COM |
User Identifier 3: |
NONE |
Quiz Title: |
Topic 23 - Residential Rental Income and Expenses - Quiz |
Overall Result: |
FAIL |
Overall Score: |
130/200 |
Percentage Score: |
65 |
Passing Percentage: |
70 |
Time Results Received: |
Mar 26, 05:24:59, 2011 |
Time Spent: |
00:18:08 |
Question Reference |
Answer |
Score |
Time |
When you change property you hold for personal use to rental |
c |
10 |
20.03s |
Expenses you can deduct from your rental income does not inc |
d |
10 |
7.89s |
John and Mary moved into your rental property on January 1, |
b |
0 |
48.66s |
You rent a room in your home that is always available for sh |
c |
0 |
23.01s |
You own a vacation home on Amelia Island, Florida, which you |
c |
10 |
23.61s |
If you do not rent your property to make a profit, you can d |
c |
10 |
4.89s |
You must decrease the basis of your property by any items th |
d |
10 |
13.54s |
You can deduct the ordinary and necessary expenses of travel |
d |
10 |
7.76s |
Paul and Patricia had a pipe burst in the basement of the re |
d |
0 |
147.31s |
William owns a 4-unit apartment building for which he receiv |
a |
0 |
148.83s |
You can deduct your ordinary and necessary expenses for ____ |
d |
10 |
6.86s |
You purchased a heating, ventilating and air conditioning (H |
d |
10 |
13.32s |
Include this in your rental income in the year you receive i |
a |
10 |
22.02s |
Repainting your property inside and out and fixing leaks in |
a |
0 |
9.86s |
Michael wants to convert his personal residence to a rental |
c |
10 |
19.32s |
Jose is a cash basis taxpayer whom started renting a house t |
b |
0 |
91.64s |
You incurred the following expenditures in connection with y |
d |
10 |
393.62s |
You use a dwelling unit as a home during the tax year if you |
c |
10 |
21.99s |
If you use your personal car, pickup truck or light van for |
d |
0 |
36.92s |
If you rent property that you also use as your home and you |
a |
10 |
27.71s |