.25pt;margin-bottom:0cm;margin-left: 47.25pt;margin-bottom:.0001pt;text-indent:-18.0pt;mso-pagination:widow-orphan;=”” page-break-after:auto;mso-list:l0=”” level1=”” lfo1;tab-stops:list=”” 36.0pt;background:=”” white”=””>· Question 1
2 out of 2 points
An individual, age 40, who is not subject to the phase-out provision may contribute a nondeductible amount to a Roth IRA up to $5,500 per year in 2013.
· Question 2
2 out of 2 points
Contributions to a Roth IRA can be made up to the due date (excluding extensions) of the taxpayers income tax return.
· Question 3
2 out of 2 points
A taxpayer takes six clients to an NBA playoff game. If all of the tickets (list price of $120 each) are purchased on the Internet for $1,800 ($300 each), only $60 ($120´50% cutback adjustment) per ticket is deductible.
· Question 4
2 out of 2 points
At age 65, Camilla retires from her job in Boston and moves to Florida. As a retiree, she is not subject to the time test in deducting her moving expenses.
· Question 5
2 out of 2 points
Janet, who lives and works in Newark, travels to Atlanta for aThursday-Fridaybusiness conference. She stays over after the conference and visits relatives and friendson Saturday. Under certain circumstances, the meals and lodging expenses forSaturdaycan be considered as business related.
· Question 6
2 out of 2 points
Once the actual cost method is used, a taxpayer cannot change to the automatic mileage method in a later year.
· Question 7
2 out of 2 points
By itself, credit card receipts will not constitute adequate substantiation for travel expenses.
· Question 8
2 out of 2 points
Madison is an instructor of fine arts at a local community college. If she spends $600 (not reimbursed) on art supplies for her classes, $250 of this amount can be claimed as a deduction for AGI.
· Question 9
2 out of 2 points
If an individual is subject to the direction or control of another only to the extent of the end result but not as to the means of accomplishment, an employer-employee relationship does not exist.
· Question 10
2 out of 2 points
An education expense deduction may be allowed even if the education results in a promotion or pay raise for the employee.
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