Chapter $16$Question $1$ of $75.$Theodore $(67)$ and Jessica $(59)$ are married with no dependents. Jessica is legally blind. They cannot be claimed as dependents on someone else's tax return. What is the amount of their personal exemption credit on their joint $2022$ California return?

$$$$140$

$$$$280$

$$$$433$

$$$$560$

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$$Question $2$ of $75.$Eric and James are registered domestic partners and are both residents of California. Eric earned $$50,000$ in wages; James earned $$30,000.$ Eric also received $$800$ in interest income from an investment fund, which he inherited and has maintained as separate property during the partnership. Eric and James must file separate federal returns. What amount of income will Eric report on his federal return?

$$$$40,400$

$$$$40,800$

$$$$50,400$

$$$$50,800$

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$$Question $3$ of $75.$Jeff and Lynnette and are both residents of$,$ and domiciled in$,$ California. When they were married, Lynnette had a separately$-$held investment account. At what point would this become community property?

$$After their first year of marriage.

$$This account can never become community property.

$$When it is commingled to the point that separate investments can no longer be traced.

$$When Jeff and Lynnette married.

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$$Question $4$ of $75.$Which individual$($s$)$ must file a $2022$ California income tax return?

$$Franklin $(38)$ and Jennifer $(34)$ are married and will file married$/$RDP filing jointly. They have no dependents. Their California gross income is $$35,500$ and their California adjusted gross income $($AGI$)$ is $$32,500.$

$$Joe $(40)$ and Valerie $(42)$ are married and will file married$/$RDP filing jointly. They have one dependent. Their California gross income is $$52,500$ and their California AGI is $$45,600.$

$$Kelly $(33)$ is a widow. She will file using the qualifying surviving spouse$/$RDP filing status. She has one dependent. Her California gross income is $$34,000$ and her California AGI is $$32,000.$

$$Kenneth is single $(67).$ He has no dependents. His California gross income is $$25,500$ and his California AGI is $$20,500.$

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$$Question $5$ of $75.$Which of the following is a community asset under California community property laws?

$$A $$60,000$ inheritance. Randy inherited $$60,000$ from his grandmother this year. He was married to Jeza when he received this inheritance.

$$A diamond bracelet. Glenda received the bracelet as a gift from her father. Glenda was married to Miguel when the gift was made.

$$A tract of land held for investment. Mike acquired the land while single and married Kennedy the next year.

$$Shares of stock in ABC, Inc. Anna received the stock as part of her compensation package as an employee of ABC, Inc. She was married to Robert the entire time she worked there.

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$$Question $6$ of $75.$Pedro and Charlotte had the following income and expenses during the year:$$$$45,000$ in wages.$$$$24,000$ in rental income.$$$$8,000$ in rental expenses.$$$$48,000$ in self$-$employment receipts.$$$$12,000$ in self$-$employment expenses.$$Assuming there are no income adjustments, what is their California adjusted gross income?

$$$$97,000$

$$$$105,000$

$$$$109,000$

$$$$117,000$

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$$Question $7$ of $75.$Jamar and Natasha had the following income and expenses during the year:$$$$45,000$ in wages.$$$$24,000$ in rental income.$$$$8,000$ in rental expenses.$$$$48,000$ in self$-$employment receipts.$$$$12,000$ in self$-$employment expenses.$$Assuming there are no income adjustments, what is their California gross income?

$$$$97,000$

$$$$105,000$

$$$$109,000$

$$$$117,000$

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$$Question $8$ of $75.$California taxpayers generally use the same filing status for California that they do on their federal return. Although, there are exceptions. Which of the following is NOT an exception?

$$A taxpayer who is a registered domestic partner $($RDP$),$ and who files single for federal tax purposes, must file married$/$RDP filing jointly or married$/$RDP filing separately for California purposes.

$$Taxpayers who file a joint federal income tax return may choose to file either joint or separate California returns if the taxpayer or spouse was an active duty member of the U$.$S$.$ Armed Forces $($or any auxiliary military branch$)$ during the tax year.

$$Taxpayers who file a joint federal income tax return may choose to file either joint or separate California returns if the taxpayer or spouse was a nonresident for the entire year and had no income from California sources during the tax year.

$$Taxpayers who file single on their federal tax return may choose to file either jointly or separately on their California return.