45.BusinessequipmentispurchasedonMarch10,2018,usedinthebusinessuntilSeptember29,2018,andsoldata $23,000lossonOctober10,2018.Theequipmentwasnotsuitable fortheworkthe

businesshadpurchaseditfor.The lossonthedispositionshouldhavebeenreported inthe2018

Form4797,Part:

a.I.

b.II.

c.III.

d.IV.

e.ThistransactionwouldnotbereportedintheForm4797.

46.Whichofthefollowingcharacteristicsdoesnotdescribeadefinedbenefitpensionplan?

a.Actuarialcalculationsarerequiredtodeterminetheemployer'sannualcontribution. b.Uponretirement,theemployee'spensionamountdependsonthevalueofherorhisaccount. c.Forfeituresmustreducesubsequentfundingcostsandcannotincreasethebenefitsanyparticipant

canreceive undertheplan. d.Aseparateaccountisnotrequiredtobemaintainedforeachparticipant.

e.Noneofthese.

47.DonhasfiveyearsofservicecompletedasofFebruary5,2018,whichishisemployment

anniversarydate.Ifhis definedbenefitplan[nota401(m)arrangement]usesthegradedvestingrule,

determineDon'snonforfeitable percentage.

a.40%

b.60%

c.80%

d.100%

e.Noneofthese

48.Alvarado,Inc.,usesthethree-to-seven-yeargradedvestingapproachforitsdefined

benefitretirementplan.Petehas fiveyearsofservicecompletedasofFebruary5,2019,

hisemploymentanniversarydate.DeterminePete's nonforfeitablepercentage.

a.40%

b.60%

c.80%

d.100%

e.Noneofthese

49.Kaelin,whoisretired,reachesage701/2in2018,andshewillalsobeage71in2018.Shehasa

$150,000balance inhertraditionalIRA.Ifherlifeexpectancyis15.3years,whatdistribution,

ifany,mustbemadebyApril1,2019?

a.$0

b.$9,804

c.$19,608

d.$150,000

e.Noneofthese