Question
Corporation income is reported on: a. Form 1065 b. Form 1099 c. None of the above d. Form 1125 Lucas, a single taxpayer with no
Corporation income is reported on:
| a. | Form 1065 | |
| b. | Form 1099 | |
| c. | None of the above | |
| d. | Form 1125 |
Lucas, a single taxpayer with no dependents, has adjusted gross income for 2019 of $99,000 and his itemized deductions total $19,000. What taxable income will Lucas show in 2019?
| a. | $74,950 | |
| b. | $85,800 | |
| c. | $79,000 | |
| d. | $80,000 |
A taxpayer who is qualifying widow (er) has the same standard deduction of a:
| a. | None of the above | |
| b. | Married filing jointly | |
| c. | Head of Household | |
| d. | Single |
Standard deduction for a single taxpayer who are 65 age or older and blind are entitled to an additional standard deduction of:
| a. | $3,300 | |
| b. | $1,350 | |
| c. | $1,650 | |
| d. | $2,600 |
Which of the following is not taxable for income tax purposes?
| a. | Inheritances | |
| b. | Novel Prize | |
| c. | Winnings from television show | |
| d. | Lotteries |
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