Question 1

In January 2019, Pam, a calendar year cash basis taxpayer, made an estimated state income tax payment for 2018. The payment is deductible in 2018.

Accepted Answer

A) True 
 B)False

Question 2

Charitable contributions that exceed the percentage limitations for the current year can be carried over for up to three years.

Accepted Answer

A) True 
 B)False

Question 3

Pedro's child attends a school operated by the church the family attends. Pedro made a donation of $1,000 to the church in lieu of the normal registration fee of $200. In addition, Pedro paid the regular tuition of $6,000 to the school. Based on this information, what is Pedro's charitable contribution?

Accepted Answer

A)   $0
B)   $800
C)   $1,000
D)   $6,800
E)   $7,000F) None of the above
G) B) and E)

Question 4

The election to itemize is appropriate when total itemized deductions are less than the standard deduction based on the taxpayer's filing status.

Accepted Answer

A) True 
 B)False

Question 5

Upon the recommendation of a physician, Ed has a swimming pool installed at his residence because of a heart condition. If he is allowed to deduct all or part of the cost of the pool, Ed's increase in utility bills due to the operation of the pool qualifies as a medical expense.

Accepted Answer

A) True 
 B)False

Exam 10: Deductions and Losses: Certain Itemized Deductions

Correct Answer
verified

Charitable contributions that exceed the percentage limitations for the current year can be carried over for up to three years.

Correct Answer
verified

In January 2019, Pam, a calendar year cash basis taxpayer, made an estimated state income tax payment for 2018. The payment is deductible in 2018.

Correct Answer
verified

Upon the recommendation of a physician, Ed has a swimming pool installed at his residence because of a heart condition. If he is allowed to deduct all or part of the cost of the pool, Ed's increase in utility bills due to the operation of the pool qualifies as a medical expense.

Correct Answer
verified

The election to itemize is appropriate when total itemized deductions are less than the standard deduction based on the taxpayer's filing status.

Correct Answer
verified

Exam 10: Deductions and Losses: Certain Itemized Deductions

Correct AnswerverifiedShow Answer

Charitable contributions that exceed the percentage limitations for the current year can be carried over for up to three years.

Correct AnswerverifiedShow Answer

In January 2019, Pam, a calendar year cash basis taxpayer, made an estimated state income tax payment for 2018. The payment is deductible in 2018.

Correct AnswerverifiedShow Answer

Upon the recommendation of a physician, Ed has a swimming pool installed at his residence because of a heart condition. If he is allowed to deduct all or part of the cost of the pool, Ed's increase in utility bills due to the operation of the pool qualifies as a medical expense.

Correct AnswerverifiedShow Answer

The election to itemize is appropriate when total itemized deductions are less than the standard deduction based on the taxpayer's filing status.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified