Question
1-Roberto, age 50, has AGI of $110,000 for 2016. He has medical expenses of $13,200. How much of the medical expenses can Roberto deduct on
1-Roberto, age 50, has AGI of $110,000 for 2016. He has medical expenses of $13,200. How much of the medical expenses can Roberto deduct on his Schedule A for 2016?
a.$0
b.$13,200
c.$4,950
d.$11,000
e.None of these choices are correct.
2-Which of the following charitable contributions is not tax deductible?
a.Cash donated to a qualified church.
b.Clothing donated to a qualified veterans' organization.
c.Donation of a car to a qualified non-profit organization.
d.Time donated to a qualified veterans' organization.
e.All of these choices are tax deductible
3-Which of the following is correct for Qualified Tuition Programs?
a.Contributions are deductible and qualified educational expense distributions are tax-free.
b.Contributions are deductible and qualified educational expense distributions are taxable.
c.Contributions are not deductible and qualified educational expense distributions are tax-free.
d.Contributions are not deductible and qualified educational expense distributions are taxable.
4-Damage resulting from which of the following would probably not give rise to a casualty loss deduction?
a.Fire
b.Earthquake
c.Rust
d.Flood
e.Automobile accident
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