1. Children with net unearned income in excess of $2,200 a year may be subject to tax on that income based on their parents marginal tax rate even if they have no other income during the year.

T/F?

2. Primary tax law sources include statutory authority, judicial, administrative, tax research services and textbooks

T/F?

3. Capital gains and losses must be tracked based on short term and long term ownership

T/F?

4. Long term capital gains are taxed at the same tax rate as ordinary income for corporate taxpayers.

T/F?

5. Long term capital gains are taxed at the same tax rate as ordinary income for individual taxpayers.

T/F?