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> Question 1 2 pts Dennis is the first to admit he is paid more than he deserves for the level of work he performs.
> Question 1 2 pts Dennis is the first to admit he is paid more than he deserves for the level of work he performs. Therefore, he knowingly over withholds on both his federal and California state taxes. This over withholding causes a large refund at the end of every tax year which Dennis instructs his tax preparer to contribute to various funds listed on his Form 540. Dennis, then uses the contributions as charitable contributions on his federal Schedule A. This year Dennis received a refund of $14,750 which he wants allocated: 30% to the Alzheimer's Disease Fund; 10% to the California Peace Officer Memorial Foundation Fund; 40% to the Rare Endangered Species Fund and the balance to the Emergency Food for Families Fund. What is the total dollar amount contributed to the Emergency Food for Families Fund? O $1,475 O $2,950 O $4,425 O $5,900 Next > Question 2 2 pts Dennis is the first to admit he is paid more than he deserves for the level of work he performs. Therefore, he knowingly over withholds on both his federal and California state taxes. This over withholding causes a large refund at the end of every tax year which Dennis instructs his tax preparer to contribute to various funds listed on his Form 540. Dennis, then uses the contributions as charitable contributions on his federal Schedule A. This year Dennis received a refund of $14,750 which he wants allocated: 30% to the Alzheimer's Disease Fund; 10% to the California Peace Officer Memorial Foundation Fund; 40% to the Rare Endangered Species Fund and the balance to the Emergency Food for Families Fund. How much and when can Dennis include the $14.750 of charitable contributions on his federal Schedule A? a. Dennis can include the entire $14.750 of charitable contributions on his federal Schedule A in a previous tax year if filing an amended return. O b. Dennis can include the entire $14.750 of charitable contributions on his federal Schedule A in the year the contributions are made on his Form 540. O c. Dennis can include only a portion of the $14,750 of charitable contributions on his federal Schedule A in any of the next three years. O d. Dennis can include up to the allowable amount, depending on federal limits, of charitable contributions on his federal Schedule A in the year following the actual contribution being made through his Form 540. Question 3 2. A mistake was discovered on Marisa's prior year California, Form 540, tax return. On the return, Marisa received a refund of $736 which she chose to voluntarily contribute to the California Breast Cancer Research Fund. After recalculating the tax return, taking the mistake into consideration, Marisa owed the Franchise Tax Board $637 and instructed her tax preparer to simply reduce the amount of the contribution. Assume you are the tax preparer. How will you approach the situation? O a. File the amended return reducing the contribution to $99 and advise Marisa it is taken care of. O b. File the amended return without reducing the contribution and advise Marisa contributions are irrevocable. O c. Not file the amended return and advise Marisa to wait and see if the Franchise Tax Board discovers the error on their own. . O d. Not file the amended return and advise Marisa to simply mail in a letter stating the error and to take the amount owed from the contribution
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