Back to Course

Individual Income Tax Course (Tax I)

0% Complete
0/0 Steps
  1. ✅⛔Please Start Here!
    5 Topics
  2. SU 1: INTRODUCTION TO TAXATION: HISTORY OF U.S TAXATION & DIFFERENT TYPES OF TAXES

    📖Brief History Of U.S Taxation
    2 Topics
    |
    1 Quiz
  3. 📖The Different Types Of Taxes
    2 Topics
    |
    2 Quizzes
  4. 📖Tax Structure: Progressive
    2 Topics
  5. 📖Proportional & Regressive Tax Structure
    2 Topics
    |
    2 Quizzes
  6. SU 2: WORKING WITH THE TAX LAW
    📖Tax Law Legislative Authorities
    2 Topics
  7. 📖Tax Law Administrative Authorities
    2 Topics
  8. 📖Tax Law Judicial Authorities
    2 Topics
  9. 📖IRS Audit/Examination Process
    2 Topics
  10. 📖Tax Law Hierarchy
    2 Topics
    |
    2 Quizzes
  11. SU 3: DETERMINING FILING STATUS & RESIDENCY
    📖Income Tax Formula
    2 Topics
    |
    2 Quizzes
  12. 📖Filing Requirements – Who Must File a Tax Return & When?
    2 Topics
  13. 📖Filing Status
    3 Topics
    |
    2 Quizzes
  14. 📖Qualifying Child Vs. Qualifying Relative
    3 Topics
    |
    2 Quizzes
  15. SU 4: TAXABLE & NONTAXABLE INCOME
    📖Overview Of Taxable Gross Income
    2 Topics
    |
    2 Quizzes
  16. 📖Wages W-2 Income
    2 Topics
    |
    2 Quizzes
  17. 📖Alimony Income
    2 Topics
    |
    3 Quizzes
  18. 📖Interest Income
    2 Topics
    |
    2 Quizzes
  19. 📖Dividend Income
    4 Topics
    |
    1 Quiz
  20. 📖Introduction To Capital Gain/Loss
    2 Topics
  21. 📖Prizes/Awards & Cancellation Of Debt
    2 Topics
    |
    2 Quizzes
  22. 📖Pension & Annuities
    2 Topics
    |
    2 Quizzes
  23. 📖Gambling & Unemployment Compensation
    2 Topics
  24. 📖Social Security
    2 Topics
    |
    2 Quizzes
  25. 📖Taxable Refund
    2 Topics
  26. 📖Original Issue Discount
    2 Topics
    |
    1 Quiz
  27. SU 5: GROSS INCOME: EXCLUSION
    📖Gifts & Inheritances
    2 Topics
    |
    1 Quiz
  28. 📖Life Insurance Proceeds
    2 Topics
    |
    2 Quizzes
  29. 📖Scholarship & Fellowship
    2 Topics
    |
    2 Quizzes
  30. 📖Damages / Compensations
    2 Topics
    |
    2 Quizzes
  31. 📖Interest On Municipal Bonds
    2 Topics
  32. 📖Educational Saving Bonds Series Ee Bonds
    2 Topics
  33. 📖Tax Benefit Rule
    2 Topics
  34. 📖CPA Simulation: Income Inclusion/Exclusion
    1 Topic
  35. SU 6: DEDUCTIONS & LOSSES IN GENERAL
    📖Deductions & Losses / For AGI / From AGI
    2 Topics
    |
    1 Quiz
  36. 📖Ordinary, Necessary & Reasonable
    2 Topics
  37. 📖Disallowed Deductions / Illegal Business / Political Contribution
    2 Topics
  38. 📖Hobby Losses OBBBA
    2 Topics
    |
    1 Quiz
  39. 📖Business Income & Loss (Schedule C)
    2 Topics
  40. 📖Rental Income & Loss
    2 Topics
  41. 📖Quasi CPA Simulation. Computing AGI Rental Income
    1 Topic
    |
    3 Quizzes
  42. 📖Related Party transactions
    2 Topics
    |
    2 Quizzes
  43. 📖Employee Vs. Independent Contractor
    2 Topics
  44. 📖Transportations Expenses Deduction
    2 Topics
  45. 📖Travel Expenses Deduction
    2 Topics
  46. 📖Education Expense / Qualified Tuition Deduction
    2 Topics
    |
    2 Quizzes
  47. 📖Meals & Entertainment Expense
    2 Topics
  48. 📖Home Office Expense Deduction
    2 Topics
  49. SU 7: DEDUCTIONS & LOSSES: VARIOUS BUSINESSS EXPENSES & LOSSES
    📖Bad Debts Deduction
    2 Topics
    |
    2 Quizzes
  50. 📖Worthless Securities / Small Business Stock Section 1244
    2 Topics
    |
    2 Quizzes
  51. 📖Research & Experimental Expenditures
    2 Topics
  52. 📖Excess Business Loss Limitation
    2 Topics
  53. 📖Net Operating Loss NOL
    2 Topics
    |
    3 Quizzes
  54. 📖Accountable Plans & Non Accountable Plans
    2 Topics
  55. SU 8: ADJUSTMENTS TO GROSS INCOME
    📖Educator Expense Deduction
    2 Topics
  56. 📖Self Employed Health Insurance Deduction
    2 Topics
    |
    1 Quiz
  57. 📖Health Savings Account / HSA
    2 Topics
    |
    2 Quizzes
  58. 📖Student Loan Interest Tax Deduction For AGI
    2 Topics
    |
    1 Quiz
  59. 📖Penalty For Early Withdrawal (OBBBA)
    2 Topics
  60. 📖Moving Expense Deduction For Active Military Members (OBBBA)
    2 Topics
    |
    1 Quiz
  61. 📖Deduction For Half Of Self-Employment Tax
    2 Topics
  62. SU 9: STANDARD DEDUCTION & ITEMIZED DEDUCTIONS
    📖Deductions For Individual Taxpayers
    2 Topics
  63. 📖Itemized Deduction Or Standard Deduction
    2 Topics
    |
    2 Quizzes
  64. 📖Medical Expense Deduction
    2 Topics
    |
    2 Quizzes
  65. 📖Casualty & Theft Losses (OBBBA)
    2 Topics
  66. 📖State & Local Deductions SALT Schedule A (OBBBA)
    2 Topics
    |
    2 Quizzes
  67. 📖Interest Deduction On Schedule A (OBBBA)
    2 Topics
    |
    2 Quizzes
  68. 📖Charitable Contributions
    4 Topics
    |
    2 Quizzes
  69. 📖Other Itemized Deductions (OBBBA)
    2 Topics
    |
    1 Quiz
  70. SU 10: SECTION 199A QUALIFIED BUSINESS DEDUCTION
    📖Introduction To Qualified Business Income Deduction (OBBBA)
    2 Topics
  71. 📖Qualified Business Income Deduction Wages & PPE Limitations (OBBBA)
    2 Topics
  72. 📖Qualified Business Income Deduction Specified Services Business (OBBBA)
    2 Topics
  73. SU 11: TAX COMPUTATION
    📖Compute Taxes Using Tables & Schedules
    2 Topics
  74. 📖Tax Computation: Marginal Vs. Average
    3 Topics
  75. 📖Kiddie Tax Computation
    2 Topics
    |
    2 Quizzes
  76. SU 12: INVESTOR LOSSES / PASSIVE ACTIVITY / MATERIAL PARTICIPATION / AT-RISK LIMIT
    📖PAL & At-Risk Limitation
    4 Topics
    |
    4 Quizzes
  77. SU 13: INDIVIDUAL TAX CREDITS
    📖Introduction To Tax Credits
    2 Topics
  78. 📖Introduction To Business Credits
    2 Topics
  79. 📖Work Opportunity & Rehabilitation Expenditure Tax Credit
    2 Topics
  80. 📖Research Credit
    2 Topics
  81. 📖Various Business Credits
    2 Topics
  82. 📖Earned Income Tax Credit (OBBBA)
    2 Topics
  83. 📖Foreign Tax Credit
    2 Topics
  84. 📖Adoption Tax Credit
    2 Topics
  85. 📖Child Tax Credit (OBBBA)
    2 Topics
  86. 📖Elderly & Disabled Tax Credit
    2 Topics
  87. 📖Dependent Care Credits
    2 Topics
  88. 📖Education Credits
    2 Topics
  89. 📖Retirement Savings Contribution Credit
    2 Topics
    |
    4 Quizzes
  90. SU 14: CALCULATING THE BASIS OF ASSETS
    📖Introduction To Property Transactions
    2 Topics
  91. 📖Basics Of Property Basis
    2 Topics
    |
    2 Quizzes
  92. 📖Amount Realized
    2 Topics
    |
    2 Quizzes
  93. 📖Gift Property – Tax Basis
    2 Topics
    |
    2 Quizzes
  94. 📖Basis For Inherited Property
    2 Topics
    |
    2 Quizzes
  95. 📖Recognized Vs. Realized
    2 Topics
    |
    2 Quizzes
  96. 📖Section 1301 Like-Kind Exchange
    2 Topics
    |
    2 Quizzes
  97. 📖Section 1031 W/Liabilities
    3 Topics
  98. 📖Involuntary Conversion
    2 Topics
    |
    2 Quizzes
  99. 📖Section 121 Homeowner Exclusion
    2 Topics
    |
    2 Quizzes
  100. 📖Disposition Of Personal Use Property
    2 Topics
  101. 📖Wash Sale Loss
    2 Topics
    |
    2 Quizzes
  102. SU 15: CAPITAL GAINS & LOSSES
    📖Introduction To Capital Assets
    2 Topics
    |
    1 Quiz
  103. 📖Netting Capital Gains & Losses
    2 Topics
    |
    2 Quizzes
  104. 📖Section 1231 Assets
    2 Topics
    |
    2 Quizzes
  105. 📖Section 1245 Assets Depreciation Recapture
    3 Topics
    |
    2 Quizzes
  106. 📖Section 1250 Unrecaptured Gain
    2 Topics
    |
    2 Quizzes
  107. SU 16: DEPRECIATION, COST RECOVERY & AMORTIZATION
    📖Cost Recovery / Half Year Convention
    2 Topics
  108. 📖Mid Quarter Convention / Depreciation & Cost Recovery
    2 Topics
  109. 📖Mid Month Convention / Depreciation Of Real Property
    2 Topics
    |
    2 Quizzes
  110. 📖Section 179 Deduction
    2 Topics
  111. 📖First Year Bonus Depreciation
    2 Topics
    |
    2 Quizzes
  112. 📖Depreciation Of Listed Property
    2 Topics
    |
    2 Quizzes
  113. 📖Section 197 Amortization Of Intangible Assets
    2 Topics
    |
    2 Quizzes
  114. SU 17: ACCOUNTING PERIODS & METHODS: TAX ACCOUNTING METHODS
    📖Cash Method
    2 Topics
  115. 📖Accrual Method
    2 Topics
  116. 📖Methods Of Accounting For Tax Purposes Cash & Accrual
    4 Topics
  117. 📖Installment Sales
    2 Topics
    |
    2 Quizzes
  118. 📖Uniform Cost Capitalization (UNICAP)
    2 Topics
    |
    1 Quiz
  119. 📖Taxable Long Term Contract: % Of Completion & completed Contract
    2 Topics
    |
    1 Quiz
  120. SU 18: ADDITIONAL TAXES & CREDITS
    📖Introduction To Alternative Minimum Tax (AMT)
    2 Topics
  121. 📖Adjustments For Alternative Minimum Tax
    2 Topics
  122. 📖Preference For Alternative Minimum Tax (AMT)
    2 Topics
  123. 📖Alternative Minimum Tax (AMT) Explained
    4 Topics
  124. SU 19: RETIREMENT PLANS
    📖Retirement Plans
    2 Topics
  125. 📖Deduction For Individual Retirement Account / Roth IRA
    2 Topics
    |
    2 Quizzes
  126. 📖Roth IRA
    2 Topics
  127. 📖IRA Distributions
    2 Topics
    |
    1 Quiz
  128. 📖Minimum Required Distribution: Taxation For Qualified Pension Plans
    2 Topics
  129. 📖Self-Employed Retirement Plans: 401 K, SEP Plan, Keogh Plan
    2 Topics
  130. SU 20: TAXPAYERS' PENALTIES
    📖Penalty For Failure To Pay & Failure To File
    2 Topics
  131. 📖Accuracy Related Penalty
    2 Topics
  132. 📖Failure To Pay Estimated Taxes
    2 Topics
  133. SU 21: PAYROLL TAXES
    📖Payroll Taxes: W 4 Explained
    2 Topics
  134. 📖FICA Taxes Explained
    4 Topics
    |
    1 Quiz
  135. 📖Federal Unemployment Tax Act (FUTA)
    2 Topics
    |
    1 Quiz
  136. 📖Form 941″ Payroll Taxes
    2 Topics
  137. 📖Self-Employment, Additional Medicare & Net Investment Income Tax
    2 Topics
    |
    2 Quizzes
  138. SU 22: CIRCULAR 230
    📖Circular 230 Explained
    2 Topics
    |
    4 Quizzes
  139. SU 23: ESTATES & GIFT TAXES
    📖Unified Transfer Tax System Part 1: Exclusions
    2 Topics
    |
    1 Quiz
  140. 📖Unified Transfer Tax System Part 2: Gift Tax
    3 Topics
    |
    3 Quizzes
Quiz 12 of 133

🎯Dependent Child or relative T/F

Instructions on how to complete the quiz:

  1. Click on “Start Quiz” to start.
  2. “Check” to submit your answer and reveal the solution.
  3. “Skip Question” to skip the question for now.
  4. “Review” to mark question for review later.
  5. “Feedback” to inquire about the question or provide us your feedback.
    • Please make sure to reference the number of the question in your inquiry such as # 4
  6. “Quiz Summary” to finish/submit the whole quiz.

Not completed yet
Submit the full quiz to mark it complete.

Please log in to view your report card.

Responses

  1. Hello –
    I am unclear of the difference between a dependent relative and an dependent which is categorized as an ‘other dependent’ which equates to, I believe, a $500 credit.
    Can I trouble you to explain the difference?
    Thank you –
    Justin

  2. Hello,
    For question 3, if John’s father was a resident of Canada, would he qualify as a dependent relative? The Becker material states that a dependent relative can only be a citizen of the United States or Residents of the United States, Mexico, or Canada. However, the explanation for this question only mentioned that he must be a US citizen or a US resident.

    1. Hello Vinny,

      For a person to be claimed as a qualifying relative for U.S. tax purposes, the IRS requires that the person must be either:
      – A citizen of the United States (John’s father does NOT meet this test since he is a citizen of Canada), or
      A resident of the United States, Canada, or Mexico (John’s father does NOT meet this test since he is a resident of Germany).

      Since the requirement specifies that the person must be either a U.S. citizen or a resident of the U.S., Canada, or Mexico, John’s father does not qualify as a dependent because he is neither a U.S. citizen nor a resident of the U.S., Canada, or Mexico.
      Therefore, the correct answer to the question is False.

      I hope this makes sense!

  3. Please take a look at how this question is graded as I believe it is incorrect. It should be False which the explanation of the question actually agrees with but it’s still marked wrong and says it should be True.

    1. Hello Christopher,

      The gross income test applies only to qualifying relatives, not qualifying children. Being at the age of 21, Ayla may be claimed as a qualifying child by her parents, provided she is a full-time student and does not contribute more than half of her own support.

      Therefore, the answer is “true”, Ayla may be claimed as a dependent by her parents if she is a full-time student.

      I hope this clears up the confusion! Let me know if you need additional guidance.

  4. Question #6 Milkov Family…this question may be better clarified stated as…Milkove Family “household” to show that the children live in the same household. Anyway that’s my tip for clarity!

    1. Hello Marylou,

      Thank you for your feedback! While it’s true that adding “household” could clarify the context, it’s worth noting that for dependency purposes, both children do not need to be living in the same household with their parents for the whole year.

      – For Jane (qualifying child), she must live with her parents when she is away from college. Temporary absences to attend the university count as living with them.
      – For James (qualifying relative), there is no requirement to live with his parents. Only non-relatives must be living with you for the whole year for the qualifying relative test.

      In addition, the use of the word “may” in the question reflects the possibility that the parents can claim their children as dependents if all qualifying criteria are met. Since there are no contrary circumstances presented in the facts, such as the children filing joint returns, being supported by someone else, or failing other dependency requirements, it is reasonable to state that the parents “may” claim them. The use of “may” reflects the conditional nature of the claim based on the information provided.

      Thank you for your insight! Let me know if you have further suggestions or questions.

  5. Question 2 – the response explanation is a little skewed and presenting it like a dependent relative only. However in this case Ray does not meet the requirements to be claimed as a dependent – both child and relative “if he does not live with them”.