Section 2.4 IRAs (contributions, deductions, distributions, and 10% penalty) Question 24 of 100. On Form 5329, an IRA distribution penalty exception may NOT be used by a taxpayer who Was unemployed and paid health insurance premiums. Was permanently and totally disabled Received the distribution as part of a series of substantially equal periodic payments paid over the life expectancy of the participant (or joint life expectancles of the participant and beneficiary). Had to pay their spouse part of the funds in their IRA under a qualified domestic relations order (ODRO). Mark for follow up Back Save / Return Later Summary Next > $ en 2.7.1 Determination of gross income and deductions the following income or services were provided by Beatrice in 2021. Beatrice is a cash-basis taxpayer and self- yed piano teacher. What is Beatrice's 2021 gross income? 50 for 183 piano lessons given in 2020. O payment for five plano lessons that will take place in January 2022. o received for sheet music that Beatrice bought from a distributor and sold at cost. Beatrice paid the distributor $720 ng 2021. $325 makeover from a spa owner in exchange for five plano lessons. (No cash changed hands.) $9,725 $10,120 $10,195 $10.445 IM Mark for follow up Question 28 of 100. Which sole proprietors compute the cost of goods sold? Sole proprietors who: Make goods to sell, or buy goods to resell Deal in services and use the cash method of accounting. Are self-employed and use the accrual method of accounting Are statutory employees. Section 2.4 IRAs (contributions, deductions, distributions, and 10% penalty) Question 24 of 100. On Form 5329, an IRA distribution penalty exception may NOT be used by a taxpayer who Was unemployed and paid health insurance premiums. Was permanently and totally disabled Received the distribution as part of a series of substantially equal periodic payments paid over the life expectancy of the participant (or joint life expectancles of the participant and beneficiary). Had to pay their spouse part of the funds in their IRA under a qualified domestic relations order (ODRO). Mark for follow up Back Save / Return Later Summary Next > $ en 2.7.1 Determination of gross income and deductions the following income or services were provided by Beatrice in 2021. Beatrice is a cash-basis taxpayer and self- yed piano teacher. What is Beatrice's 2021 gross income? 50 for 183 piano lessons given in 2020. O payment for five plano lessons that will take place in January 2022. o received for sheet music that Beatrice bought from a distributor and sold at cost. Beatrice paid the distributor $720 ng 2021. $325 makeover from a spa owner in exchange for five plano lessons. (No cash changed hands.) $9,725 $10,120 $10,195 $10.445 IM Mark for follow up Question 28 of 100. Which sole proprietors compute the cost of goods sold? Sole proprietors who: Make goods to sell, or buy goods to resell Deal in services and use the cash method of accounting. Are self-employed and use the accrual method of accounting Are statutory employees