Understand the history and objectives of US tax law. The current income tax system was: Designed solely to raise money to run the government Authorized by the founding fathers when the government was formed Not designed with social objectives in mind Initiated by the Sixteenth Amendment to the Constitution in 1913 None of the above Describe the different entities subject to tax and reporting requirements Partnership income is reported on: Form 1040 Form 1120 Form 1040X Form 1065 Understand and apply the tax formula for individuals. Which of the following is a deduction for adjusted gross income in 2016? Personal casualty losses Medical expenses Student loan interest Charitable contributions None of the above