题目内容

DAC Foundation awarded Kent $75,000 in recognition of lifelong literary achievement. Kent was not required to render future services as a condition to receive the $75,000. What condition must have been met for the award to be excluded from Kent's gross income?()

A. I only.
B. II only.
C. Both I and II.
D. Neither I nor II.
E. Kent was selected for the award by DAC without any action on Kent's part. II. Pursuant to Kent's designation, DAC paid the amount of the award either to a governmental unit or to a charitable organization.

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Which of the following is considered a specified service trade or business (SSTB) for purposes of the qualifying business income deduction?

Accounting firm
B. Manufacturing company
C. Engineering firm
D. Architectural services

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Calculate the taxpayer's qualifying business income deduction for a specified service trade or business: Filing status: SingleTaxable income: $300,000 Net capital gains: $0 Qualified businessincome (QBI): $50,000 W-2 wages: $10,000

A. $15,000
B. $5,000
C. $60,000
D. $0

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What is the tax treatment of net losses in excess of the at-risk amount for an activity?()

Any loss in excess of the at-risk amount is suspended and is deductible in the year in which the activity is disposed of in full.
B. Any losses in excess of the at-risk amount are suspended and carried forward without expiration and are deductible against income in future years from that activity.
C. Any losses in excess of the at-risk amount are deducted currently against income from other activities; the remaining loss, if any, is carried forward without expiration.
D. Any losses in excess of the at-risk amount are carried back three years against activities with income and then carried forward for five years.

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()

A. Single
B. Married filing jointly
C. Head of household
D. Surviving spouse

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DAC Foundation awarded Kent $75,000 in recognition of lifelong literary achievement. Kent was not required to render future services as a condition to receive the $75,000. What condition must have been met for the award to be excluded from Kent's gross income?()

A. I only. B. II only. C. Both I and II. D. Neither I nor II. E. Kent was selected for the award by DAC without any action on Kent's part. II. Pursuant to Kent's designation, DAC paid the amount of the award either to a governmental unit or to a charitable organization.

Which of the following is considered a specified service trade or business (SSTB) for purposes of the qualifying business income deduction?

Calculate the taxpayer's qualifying business income deduction for a specified service trade or business: Filing status: SingleTaxable income: $300,000 Net capital gains: $0 Qualified businessincome (QBI): $50,000 W-2 wages: $10,000

What is the tax treatment of net losses in excess of the at-risk amount for an activity?()

()

A. I only.
B. II only.
C. Both I and II.
D. Neither I nor II.
E. Kent was selected for the award by DAC without any action on Kent's part. II. Pursuant to Kent's designation, DAC paid the amount of the award either to a governmental unit or to a charitable organization.