Need help with these questions..

1. John and Marys divorce become final on December 15. Neither of them remarried, and neither of them has any children. Their tax filing status should be

a. married filing separately. b. married filing jointly. c. either a or b d. single

2. Which of the following types of income is subject to preferred (lower) tax rates?

a. Interest on savings accounts. b. Interest from a credit union. c. Qualified dividends. d. all of the above

3. Referring to the facts in Question 4, what would Cheryls tax liability be if the $30,000 included $6,000 she withdrew from her IRA to pay off her credit cards. Cheryl is 35.

a. $4,039. b. $4,500. c. $4,639. d. $5,239.

4. Which of the following taxpayers is required to take a minimum distribution from their retirement account?

a. Pete, who has a 401-K and is age 68 and retired. b. Roger, who has a 401-K with his employer, and is still working at age 73. c. Don, who is still working at age 71, and has an IRA. d. Roger and Don, but not Pete.

5. Little Company purchased a $2,000 computer for use in its main office. This asset that is depreciated over 5 years for federal tax purposes. For five year assets, first year depreciation is 20%, second year depreciation is 32%, and third year depreciation is 19.2%. The computer was sold during the third year. At the time of sale, the adjusted basis would be

a. $1,000. b. $800. c. $768. d. $576.