QUESTION 33 Trial by jury is available in the U.S. Court of Federal Claims. True False QUESTION 34 Which of the following is true of the dependency tests? Under a multiple support agreement, a taxpayer may claim a dependent if he provides over 5 percent of the dependent's support. A child of the taxpayer who is a full-time student under the age of 24 is exempt from the gross income test for purposes of being claimed as a qualifying child dependent. Married dependents may never file a joint return A dependent must be a U.S. citizen or resident. QUESTION 35 A taxpayer's principal residence is an example of a (an) Section 1231 asset Capital asset Ordinary asset Ordinary asset QUESTION 36 The Medicare component of the FICA tax is imposed on The employer only All of the employee's wages The employee only The employee's wages up to an annual limit. QUESTION 37 Cash basis taxpayers must include in income annually the increase in the redemption price of Series E and Series EE U.S. savings bonds that they own. True False QUESTION 38 A taxpayer who is in the 37% tax rate bracket has both a $1,000 deduction and a $1,000 tax credit on his personal income tax return What is his total tax savings from these items? $370 $740 $1,000 $1,370 $2,000