Question 1 (0.6667 points)

A calendar-year individual is eligible to contribute to a deductible IRA. The taxpayer obtained a 4-month extension to file until August 15 but did not file the return until November 1. What is the latest date that an IRA contribution can be made in order to qualify as a deduction on the prior years return?

Question 1 options:

a)	April 15
b)	October 15
c)	August 15
d)	November 1

Question 2 (0.6667 points)

Sheridan earned $3,000 in wages, incurred $1,000 in unreimbursed employee business expenses, paid $400 as interest on a student loan, and contributed $100 to a charity. What is Sheridan's adjusted gross income for 2022?

Question 2 options:

a)	$1,600
b)	$2,600
c)	$2,500
d)	$3,000

Question 3 (0.6667 points)

An individual taxpayer reported the following net long-term capital gains and losses:

	Gain (loss)
Year 1	$(5,000)
Year 2	1,000
Year 3	4,000

The amount of capital gain that the individual taxpayer should report in Year 3 is

Question 3 options:

a)	$4,000
b)	$0
c)	$3,000
d)	$1,000

Question 4 (0.6667 points)

If 100 shares of stock are purchased February 14, Year 1, what is the earliest date on which the stock can be sold and the gain or loss qualify for the long-term holding period?

Question 4 options:

a)	February 14, Year 2
b)	August 15, Year 2
c)	February 15, Year 2
d)	August 14, Year 2