1. Which of the following numbers will NOT affect the amount of Qualified Business Income Deduction a taxpayer could receive?

a. Net capital gains

b. Taxable income

c. Traditional IRA contribution

d. All answers [resented can affect the amount of QBI deduction a taxpayer receives]

2. Which of the following is NOT a reason why Adjusted Gross Income (AGI) is an important number for the federal income tax system?.

a. AGI is used in many phase out limits

b. AGI acts as a "net income" figure

c. AGI is a sort of halfway point of preparing a federal tax return

d. AGI is the same as taxable income

3. A Traditional IRA account is not taxable until:

a. The funds are contributed

b. The funds are withdrawn

c. The funds go above the taxpayer's AGI

d. Taxpayer reaches at 59 1/2