Question
#1. Which of the following is true about a ROTH IRA? a. Distributions before age 59 1/2 are always penalty free b. Contributions are not
#1. Which of the following is true about a ROTH IRA?
| a. | Distributions before age 59 1/2 are always penalty free | |
| b. | Contributions are not tax deductible | |
| c. | Contributions are tax deductible |
#2. Ren and Mina are divorced and under the terms of their written divorce agreement signed on December 30, 2016, Ren was required to pay Mina $1,500 per month of which $600 was designated as child support. He made 12 such payments in 2022. Additionally, Ren voluntarily gave Mina $1,200 per month for 12 months of 2022, no portion of which was designated as child support. Assuming that Mina has no other income, her tax return for 2022 should show gross income of _____.
| a. | $7,200 | |
| b. | $0 | |
| c. | $10,800 | |
| d. | $18,000 |
#3. Ivy and Taio were granted a divorce in 2016. In accordance with the decree, Taio made the following payments to Ivy in 2022:
| Child support payments contingent on the age of the child | $6,000 |
| Alimony payments terminating on Ivys death | 4,000 |
How much of the payments can Taio deduct as alimony in 2022?
| a. | $10,000 | |
| b. | $6,000 | |
| c. | $0 | |
| d. | $4,000 |
I need quick answer. Explain doesn't needed.
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Beyond Compliance Design Of A Quality System Tools And Templates For Integrating Auditing Perspectives
Authors: Janet Bautista Smith, Robert Alvarez
1st Edition
1951058232, 978-1951058234
