Tom and Joan Moore, both CPAs, filed a joint 1994 federal income tax return showing $70,000 in taxable
income. During 1994, Tom's daughter Laura, age 16, resided with Tom. Laura had no income of her own
and was Tom's dependent.
Determine the amount of income or loss, if any that should be included on page one of the Moores' 1994
Form 1040.
In 1994, Joan received $3,500 as beneficiary of the death benefit, which was provided by her brother's
employer. Joan's brother did not have a nonforfeitable right to receive the money while living.
A. $1,250
B. $75,000
C. $1,500
D. $900
E. $50,000
F. $2,500
G. $25,000
H. $0
I. $1,000
J. $55,000
K. $500
L. $3,000
M. $1,300
N. $2,000
O. $10,000
正解:H
解説: (Pass4Test メンバーにのみ表示されます)
質問 2:
Clark bought Series EE U.S. Savings Bonds after 1989. Redemption proceeds will be used for payment of
college tuition for Clark's dependent child. One of the conditions that must be met for tax exemption of
accumulated interest on these bonds is that the:
A. Purchaser of the bonds must be the sole owner of the bonds (or joint owner with his or her spouse).
B. Bonds must be bought by the owner of the bonds before the owner reaches the age of 24.
C. Bonds must be bought by a parent (or both parents) and put in the name of the dependent child.
D. Bonds must be transferred to the college for redemption by the college rather than by the owner of the
bonds.
正解:A
解説: (Pass4Test メンバーにのみ表示されます)
質問 3:
Tom and Joan Moore, both CPAs, filed a joint 1994 federal income tax return showing $70,000 in taxable
income. During 1994, Tom's daughter Laura, age 16, resided with Tom. Laura had no income of her own
and was Tom's dependent.
Determine the amount of income or loss, if any that should be included on page one of the Moores' 1994
Form 1040.
The Moores received a $500 security deposit on their rental property in 1994. They are required to return
the amount to the tenant.
A. $1,250
B. $75,000
C. $1,500
D. $900
E. $50,000
F. $2,500
G. $25,000
H. $0
I. $1,000
J. $55,000
K. $500
L. $3,000
M. $1,300
N. $2,000
O. $10,000
正解:H
解説: (Pass4Test メンバーにのみ表示されます)
質問 4:
In a tax year where the taxpayer pays qualified education expenses, interest income on the redemption of
qualified U.S. Series EE Bonds may be excluded from gross income. The exclusion is subject to a
modified gross income limitation and a limit of aggregate bond proceeds in excess of qualified higher
education expenses. Which of the following is (are) true?
I. The exclusion applies for education expenses incurred by the taxpayer, the taxpayer's spouse, or any
person whom the taxpayer may claim as a dependent for the year.
II. "Otherwise qualified higher education expenses" must be reduced by qualified scholarships not
includible in gross income.
A. Both I and II.
B. Neither I nor II.
C. I only.
D. II only.
正解:A
解説: (Pass4Test メンバーにのみ表示されます)
質問 5:
On December 31, 1989, a building owned by Pine Corp. was totally destroyed by fire. The building had
fire insurance coverage up to $500,000. Other pertinent information as of December 31, 1989 follows:
During January 1990, before the 1989 financial statements were issued, Pine received insurance
proceeds of $500,000. On what amount should Pine base the determination of its loss on involuntary
conversion?
A. $530,000
B. $520,000
C. $560,000
D. $550,000
正解:A
解説: (Pass4Test メンバーにのみ表示されます)
質問 6:
Parker, whose spouse died during the preceding year, has not remarried. Parker maintains a home for a
dependent child. What is Parker's most advantageous filing status?
A. Head of household.
B. Single.
C. Married filing separately.
D. Qualifying widow(er) with dependent child.
正解:D
解説: (Pass4Test メンバーにのみ表示されます)
中川** -
REG問題集は素晴らしい資料です。三週間ぐらい勉強し、いい点数を取って、REG試験に合格しました。