Question 1

Paul,a calendar year married taxpayer,files a joint return for 2017.Information for 2017 includes the following:
Paul's allowable itemized deductions for 2017 are:

Accepted Answer

A)  $13,500.
B)  $32,400.
C)  $39,200.
D)  $42,200.
E)  None of the above.F) C) and E)
G) B) and E)

Question 2

Shirley pays FICA (employer's share) on the wages she pays her housekeeper to clean and maintain Shirley's personal residence.The FICA payment is not deductible as an itemized deduction.

Accepted Answer

A) True 
 B)False

Question 3

Judy paid $40 for Girl Scout cookies and $40 for Boy Scout popcorn.Judy may claim an $80 charitable contribution deduction.

Accepted Answer

A) True 
 B)False

Question 4

Maria made significant charitable contributions of capital gain property in the current year.In fact,the amount of the contributions exceeds 30% of her AGI.The excess charitable contribution that is not deductible this year can be carried over for five years.

Accepted Answer

A) True 
 B)False

Question 5

Gambling losses may be deducted to the extent of the taxpayer's gambling winnings.Such losses are subject to the 2%-of-AGI floor for miscellaneous itemized deductions.

Accepted Answer

A) True 
 B)False

Exam 10: Deductions and Losses: Certain Itemized Deductions

Gambling losses may be deducted to the extent of the taxpayer's gambling winnings.Such losses are subject to the 2%-of-AGI floor for miscellaneous itemized deductions.

Correct Answer
verified

Shirley pays FICA (employer's share) on the wages she pays her housekeeper to clean and maintain Shirley's personal residence.The FICA payment is not deductible as an itemized deduction.

Correct Answer
verified

Judy paid $40 for Girl Scout cookies and $40 for Boy Scout popcorn.Judy may claim an $80 charitable contribution deduction.

Correct Answer
verified

Maria made significant charitable contributions of capital gain property in the current year.In fact,the amount of the contributions exceeds 30% of her AGI.The excess charitable contribution that is not deductible this year can be carried over for five years.

Correct Answer
verified

Paul,a calendar year married taxpayer,files a joint return for 2017.Information for 2017 includes the following: Paul's allowable itemized deductions for 2017 are:

Correct Answer
verified

Exam 10: Deductions and Losses: Certain Itemized Deductions

Gambling losses may be deducted to the extent of the taxpayer's gambling winnings.Such losses are subject to the 2%-of-AGI floor for miscellaneous itemized deductions.

Correct AnswerverifiedShow Answer

Shirley pays FICA (employer's share) on the wages she pays her housekeeper to clean and maintain Shirley's personal residence.The FICA payment is not deductible as an itemized deduction.

Correct AnswerverifiedShow Answer

Judy paid $40 for Girl Scout cookies and $40 for Boy Scout popcorn.Judy may claim an $80 charitable contribution deduction.

Correct AnswerverifiedShow Answer

Maria made significant charitable contributions of capital gain property in the current year.In fact,the amount of the contributions exceeds 30% of her AGI.The excess charitable contribution that is not deductible this year can be carried over for five years.

Correct AnswerverifiedShow Answer

Paul,a calendar year married taxpayer,files a joint return for 2017.Information for 2017 includes the following: Paul's allowable itemized deductions for 2017 are:

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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