MCQ-03494 Harry has various items of income as follows: W-2 wages $24,000 Interest and dividends $3,000 Rental real estate on Schedule E $8,000 Income from an S corporation from Schedule K-1 $12,000 Income from a general partnership from Schedule K-1 $10,000 For purposes of the self-employment tax, what are the net earnings from self-employment? (Note: Please answer before the required 92.35% calculation performed on Schedule SE.) O $10,000 $22,000 $30,000 $57,000 MCQ-08640 IRC Section 263A requires the capitalization of certain indirect costs related to inventory when a qualifying business is manufacturing tangible personal property. Which of the following costs is not required to be capitalized as part of this adjustment? Marketing. Recruiting. Payroll. Securities services. 15" MCQ-12540 During a major sports event, a taxpayer rented his primary residence to spectators for 10 days. The taxpayer's rental income and expenses were as follows: Rental income $10,000 Prorated mortgage interest and taxes 1,000 Advertising 500 Commissions 1,000 How much net rental income must the taxpayer report on his income tax return? O $0 $7,500 O $8,500 $10,000 7" MCQ-12127 Which of the following types of property is not subject to the uniform capitalization (UNICAP) rules beginning in 2018? O Manufacturer's inventory Retailer's inventory with annual average gross receipts of $30,000,000 (past three years) Retailer's inventory with annual average gross receipts of $5,000,000 (past three years) Tangible personal property produced by a taxpayer for use in the taxpayer's trade or business MCQ-08772 What are the treatment options for a net operating loss occurring in tax years after December 31, 2017? O Two-year carryback and 20-year carryforward No carryback and 20-year carryforward No carryback and indefinite carryforward O Two-year carryback and indefinite carryforward