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on Schedule CA (540NR colun allowable California IRA deduction that she reports C. $2,000 D. $4.000 9 years old and single. In 2016, he was covered by a retirement plan at work. His salary is $73,500. His y deduct on his California tax return? 51. Tony is 2 modified AGI is $80,000. Tony makes a $5,500 IRA contribution for 2016. What amount of his IRA contribution 500 C. $2,750 D. $5,500 52. Regarding a resident of California's IRA distribution all of the following are true except A distribution is fully taxable if the taxpayer's IRA contributions were fully deductible contributions are-not-Haxed when they are dist retum of his or her basis and A. contributions were partially or fully nondeductible, then the nondeductible e nondeductible contributions after 1986, a part of each distribution is considered a ount of his or her nondeductible contributions e taxpayers besie is the am 53. What is the maximum California capital gain tax rate? A. 10% B. 12 -c. 13.3% taxpayer, has taxable income before capital gains of $78,000 and a long-term capital Lenore, a single California gain of $5,000 on the sale of RSS stock. What is the total amount of California state tax Lenore will pay on capital gain? A. $0 B. $465 C. $750 D. $1.215 33 S xamination Questions 15 Hour California Tax Law Federal and California law limit the standard deduction of a person who is claimed as a dependent. In 2016 e standard deduction for dependents in California is what amount? A. $750 B. $800 C. $950 D. $1,050 71. As under Federal law, which of the following may take the California standard deduction? A. An estate B. A trust A married/RDP individual filing separately when the other spouse/RDP also takes the standard deduction 72. In computing the California adjusted gross income (AGI) of a nonresident's or part-year resident's taxable income which of the followingis true? Onlydeductionsthatare attributable to California reallowable B. Only Federal deductionsare allowedto ompute their AGI C. Both California and Federal deductions are allowed D. Nonresidents or part year residents must use the standard deduction manda was a Florida resident until March 31, 2016. While a Florida resident, she eamed and received wage come of $15,000. On April 1, 2016, she permanently moved to California. While a California resident, she earned nd received wage income of $65,000. Amanda is single and had itemized deductions from Florida and California totaling $24,000. What is Amanda's California itemized deduction amount? A. $4,500 B. $5,000 C. $15,000 D. $19,500 74, which expenses, subject to the 2% floor, can be itemized by a California-based individual taxpayer? A Common OfficeSuppliessuchaspaper-- al sefely and health equiprient Professional books, magazines, journals and periodicals re extinguishers 75. The ite ized deductions taxpayers in high-income brackets will be mited to the lesser of 6% of the excess of adjusted gross income over the threshold amount or 80% of the amount of itemized deductions otherwise allowable for the tax year. For 2016, the California threshold is what amount for a single taxpayer? A. $159,700