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TCP Miles Supplemental Course: Tax Compliance and Planning
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WELCOME. PLEASE START HERE!
1. Welcome to Farhat Lectures -
2. How to Use This Course & Resources
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3. Choosing the Right CPA Discipline
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4. CPA Exam Study Tips & Common Questions
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🚀Introduce Yourself1 Topic
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🚨🚨🚨2026 AICPA Released Questions1 Topic
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💡TCP 1.1: Individual Income Tax Return – Overview of Form 10402 Topics|2 Quizzes
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💡TCP 1.2: Gross Income19 Topics|8 Quizzes
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🎥+✏️Employee Stock Options🟢
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🎙️Employee Stock Options
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🎥+✏️Incentive Stock Options (ISO)🟢
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🎙️Incentive Stock Options (ISO)
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🎥+✏️Employee Stock Purchase Plans🟢
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🎙️Employee Stock Purchase Plans
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✏️+🎥Restricted Stock Award
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🎙️Restricted Stock Award
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🎥+✏️Imputed Interest on Below-Market-Rate Loans🟢
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🎙️Imputed Interest on Below-Market-Rate Loans
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✏️+🎥PAL & At Risk Limitation🟢
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🎙️PAL & At Risk Limitation
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✏️+🎥Passive Activity Loss Limits🟢
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🎙️PAL Limits
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🎥+✏️Net Operating Loss NOL 🟢
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🎙️Net Operating Loss NOL
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🎥+✏️Excess Business Loss Limitation 🟢
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🎙️Excess Business Loss Limitation
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🎥# 1 TCP Video Simulation
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🎥+✏️Employee Stock Options🟢
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🚨🚨HOW TO SOLVE SIMULATIONS (TUTORIAL + VIDEO EXAMPLES)✅ TCP CPA Exam Simulation Tutorial + 2024 and 2025 AICPA Video Questions. Miles6 Topics|1 Quiz
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💡TCP 1.3: Adjustment to Income4 Topics|3 Quizzes
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💡TCP 1.4: Deductions from Adjusted Gross Income16 Topics|9 Quizzes
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✏️+🎥Itemized deduction or standard deduction🟢
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🎙️Itemized deduction or standard deduction (TCP)
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🎥+✏️Bunching Itemized Deductions🟢
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🎙️Bunching Itemized Deductions
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✏️+🎥Charitable Contribution Part 1🟢
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🎙️Charitable Contribution Part 1
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✏️+🎥Charitable Contribution part 2🟢
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🎙️Charitable Contribution part 2
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✏️+🎥Casualty and Theft Losses (OBBBA)🟢
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🎙️Casualty and Theft Losses (OBBBA)
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✏️+🎥Other Itemized Deductions (OBBBA)🟢
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✏️+🎥Medical Expense Deduction🟢
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🎙️Medical Expense Education
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✏️+🎥State and Local Deductions SALT Schedule A (OBBBA)🟢
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🎙️State and Local Deductions SALT Schedule A (OBBBA)
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✏️+🎥Interest deduction on Schedule A (OBBBA)🟢
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✏️+🎥Itemized deduction or standard deduction🟢
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🎯AICPA Released Questions1 Quiz
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💡TCP 1.5: Calculating Taxes14 Topics|3 Quizzes
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✏️+🎥Kiddie Tax Computation🟢
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🎙️Kiddie Tax Computation
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✏️+🎥Introduction to Alternative Minimum Tax (AMT)🟢
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🎙️Introduction to Alternative Minimum Tax (AMT)
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✏️+🎥Adjustments for Alternative Minimum Tax🟢
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🎙️Adjustments for Alternative Minimum Tax
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✏️+🎥Preference for Alternative Minimum Tax (AMT)🟢
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🎙️Preference for Alternative Minimum Tax (AMT)
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✏️+🎥Alternative Minimum Tax Exemption (AMT) Explained🟢
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🎙️Alternative Minimum Tax Exemption (AMT) Explained
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🎥+✏️CPA exam Simulation/Exercise: Alternative Minimum Tax🟢
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✏️+🎥Alternative Minimum Tax | CPA Exam TCP Questions🟢
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🎥+✏️Timing of Income and Expenses🟢
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🎙️Timing of Income and Expenses
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✏️+🎥Kiddie Tax Computation🟢
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💡TCP 1.6: Estimated Tax Payments5 Topics
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💡TCP 1.7: Personal Financial Planning40 Topics|17 Quizzes
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✏️+🎥Retirement Plans🟢
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🎙️Retirement Plans
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🎥+✏️Pension and Annuities🟢
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🎙️Pension and Annuities
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✏️+🎥Deduction for Individual Retirement Account | Roth IRA🟢
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🎙️Deduction for Individual Retirement Account | Roth IRA
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✏️+🎥Roth IRA🟢
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🎙️Roth IRA (new)
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✏️+🎥IRA Distributions🟢
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🎙️IRA Distributions
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✏️+🎥Minimum Required Distribution: Taxation for Qualified Pension Plans🟢
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🎙️Minimum Required Distribution: Taxation for Qualified Pension Plans
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✏️+🎥Self-Employed Retirement Plans: 401 K, SEP Plan, Keogh Plan🟢
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🎙️Self-Employed Retirement Plans
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🎥+✏️Selecting a Retirement Plan🟢
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🎙️Selecting a Retirement Plan
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🎥+✏️Risk Associated with investment options 🟢
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🎙️Risk Associated with investment options
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🎥+✏️Educational Saving Bonds Series EE Bonds🟢
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🎙️Educational Saving Bonds Series EE Bonds (TCP)
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🎥+✏️Section 529 Qualified Tuition Programs 🟢
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🎙️Section 529 Qualified Tuition Programs
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🎥+✏️Coverdell 🟢
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🎙️Coverdell
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🎥+✏️Student Loans🟢
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🎙️Student Loans
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🎥+✏️Student grants🟢
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🎙️Student grants
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🎥+✏️Insurance risk mitigation🟢
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🎙️Insurance risk mitigation
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🎥+✏️Life and Term Insurance🟢
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🎙️Life and Term Insurance
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🎥+✏️Long Term care🟢
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🎙️Long Term care
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🎥+✏️Umbrella Contract🟢
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🎙️Umbrella Contract
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🎥+✏️After-Tax Return on Investment🟢
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🎙️After-Tax Return on Investment
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🎥+✏️Planning for estates and their beneficiaries🟢
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🎙️Planning for estates and their beneficiaries
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✏️+🎥Retirement Plans🟢
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💡TCP 2.1: Capital Gain & Losses21 Topics|17 Quizzes
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🎥+✏️Recognized vs. Realized 🟢
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🎙️Recognized vs. Realized
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🎥+✏️Section 121 Homeowner Exclusion🟢
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🎙️Section 121 Homeowner Exclusion
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🎥+✏️Involuntary Conversion🟢
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🎙️Involuntary Conversion
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🎥+✏️Section 1031 Like-Kind Exchange 🟢
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🎙️Section 1031 Like-Kind Exchange
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🎥+✏️Section 1031 W/liabilities 🟢
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🎙️Section 1031 W/liabilities
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🎥+✏️1031 CPA Simulation 🟢
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✏️+🎥Installment Sales🟢
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🎙️Installment Sales
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🎥+✏️Wash Sale Loss🟢
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🎙️Wash Sale Loss
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🎥+✏️Related Party Transactions 🟢
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🎙️Related Party Transactions
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🎥+✏️Disposition of Personal Use Property🟢
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🎙️Disposition of Personal Use Property
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🎥+✏️Worthless Securities | Small Business Stock section 1244 🟢
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🎙️Worthless Securities | Small Business Stock section 1244
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🎥+✏️Recognized vs. Realized 🟢
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💡TCP 2.2: Gains & Losses from Sale of Long-term Business Property11 Topics|10 Quizzes
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🎥+✏️Introduction to Capital Assets🟢
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🎙️Introduction to Capital Assets
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🎥+✏️Netting Capital Gains and Losses🟢
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🎙️Netting Capital Gains and Losses
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🎥+✏️Section 1231 Assets🟢
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🎙️Section 1231 Assets
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🎥+✏️Section 1245 Assets Depreciation Recapture🟢
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🎙️Section 1245 Assets Depreciation Recapture
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✏️+🎥Section 1245 Assets CPA Simulation🟢
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🎥+✏️Section 1250 Unrecaptured Gain🟢
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🎙️Section 1250 Unrecaptured Gain
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🎥+✏️Introduction to Capital Assets🟢
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🎯AICPA Released Questions: Property Transactions2 Quizzes
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💡TCP 3.1: C-Corporation Income and Deductions12 Topics|3 Quizzes
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🎥+✏️Introduction to Corporate Taxation🟢
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🎙️Introduction to Corporate Taxation
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🎥+✏️Dividend Received Deduction 🟢
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🎥+✏️NOLs – Corporations🟢
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🎙️NOLs – Corporations
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✏️+🎥Section 382 NOL Limitation🟢
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🎙️Section 382 NOL Limitation
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🎥+✏️Introduction to Capital Gain/Loss 🟢
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🎙️Introduction to Capital Gain/Loss
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🎥+✏️Capital Gains and Losses for Corporation🟢
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🎙️Capital Gains and Losses for Corporation
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✏️+🎥Example: CPA Simulation Capital Gains and Losses for Corporation 🟢
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🎥+✏️Introduction to Corporate Taxation🟢
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💡TCP 3.2: Consolidated tax returns5 Topics|1 Quiz
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💡TCP 3.3: Formation of C-Corporations12 Topics|1 Quiz
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🎥+✏️Introduction to Section 351🟢
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🎙️Introduction to Section 351
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🎥+✏️Section 351 Transactions Services provided🟢
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🎙️Section 351 Transactions Services provided
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🎥+✏️Section 351 Boot Received | Liability Assumed | Stock Basis🟢
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🎙️Section 351 Boot Received | Liability Assumed | Stock Basis
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🎥+✏️Section 351| Built In Losses🟢
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🎙️Section 351| Built In Losses (TCP)
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🎥+✏️Corporate Basis for Services Provided by Shareholder | Section 351🟢
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🎙️Corporate Basis for Services Provided by Shareholder | Section 351
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✏️+🎥CPA Exam Simulation Section 351🟢
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✏️+🎥Section 351 Transaction CPA Simulation🟢
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🎥+✏️Introduction to Section 351🟢
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💡TCP 3.4: Corporate Earnings & Distributions16 Topics|3 Quizzes
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🎥+✏️Introduction to Current Earnings and Profit CEP | Accumulated Earnings and Profit AEP🟢
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🎙️Introduction to Current Earnings and Profit CEP | Accumulated Earnings and Profit AEP
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✏️+🎥CPA Simulation | CEP | AEP🟢
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🎥+✏️Partial Corporate Distribution | Current Earnings and Profit Versus Accumulated Earnings and Profit🟢
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🎙️Partial Corporate Distribution | Current Earnings and Profit Versus Accumulated Earnings and Profit
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✏️+🎥CPA Simulation | Corporate partial Distribution | Current Earnings and profit CEP Versus AEP🟢
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🎥+✏️Property Dividend Distribution🟢
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🎙️Property Dividend Distribution
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🎥+✏️Taxation of stock dividends Stock Splits |Stock Rights🟢
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🎙️Taxation of stock dividends Stock Splits |Stock Rights
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🎥+✏️Constructive Dividend🟢
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🎙️Constructive Dividend
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🎥+✏️Introduction to Stock redemptions | Dividend Section 302🟢
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🎙️Introduction to Stock redemptions | Dividend Section 302
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✏️+🎥Loans Between C Corporation and Shareholders🟢
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🎙️Loans Between C Corporation and Shareholders
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🎥+✏️Introduction to Current Earnings and Profit CEP | Accumulated Earnings and Profit AEP🟢
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💡TCP 3.5: Corporate Liquidation & Reorganizations14 Topics|3 Quizzes
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🎥+✏️Introduction to Complete Corporate Liquidation🟢
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🎙️Introduction to Complete Corporate Liquidation
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🎥+✏️Parent-Subsidiary Liquidation🟢
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🎙️Parent-Subsidiary Liquidation
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🎥+✏️Corporate Liquidation: Section 338 Election🟢
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🎙️Corporate Liquidation: Section 338 Election
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🎥+✏️Corporate Liquidation Distribution to Minority Shareholder🟢
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🎙️Corporate Liquidation Distribution to Minority Shareholder
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🎥+✏️Corporate Liquidation | Corporate Distribution | Shareholder Perspective🟢
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🎙️Corporate Liquidation | Corporate Distribution | Shareholder Perspective
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🎥+✏️Stock Attribution Rules | Section 318🟢
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🎙️Stock Attribution Rules | Section 318
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🎥+✏️Built-In Loss Limitation🟢
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🎙️Built-In Loss Limitation
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🎥+✏️Introduction to Complete Corporate Liquidation🟢
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🎯Comprehensive Tests Including AICPA Released Questions3 Quizzes
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🎯AICPA Released Questions1 Quiz
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💡TCP 4.1: S Corporations24 Topics|12 Quizzes
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✏️+🎥Introduction to S Corporation🟢
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🎙️Introduction to S Corporation
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✏️+🎥Section 351 Corporate Formation🟢
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🎥+✏️Separately and Nonseparately Stated Items🟢
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🎙️Separately and Nonseparately Stated Items
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🎥+✏️ S Corp: Fringe Benefits🟢
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🎙️S Corp: Fringe Benefits
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✏️+🎥Debt Vs Stock Basis & Losses Limitations🟢
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🎙️Debt Vs Stock Basis & Losses Limitations
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✏️+🎥Accumulated Adjustments Account (AAA) Simulation🟢
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🎙️Accumulated Adjustments Account (AAA) Simulation
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🎥+✏️Distribution from S Corporation🟢
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🎙️Distribution from S Corporation
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🎥+✏️Distribution from S Corporation: Corporate perspective🟢
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🎙️Distribution from S Corporation: Corporate perspective
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✏️+🎥Built-In Gains Tax🟢
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🎙️Built-In Gains Tax
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✏️+🎥Passive Investment Income Tax🟢
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🎙️Passive Investment Income Tax
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✏️+🎥LIFO Recapture and Business Credit Recapture🟢
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🎙️LIFO Recapture and Business Credit Recapture
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✏️+🎥Professor Farhat solving MCQs for S corporations🟢
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🎥+✏️S Corporation Liquidation
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🎙️S Corporation Liquidation
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✏️+🎥Introduction to S Corporation🟢
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🎯Comprehensive Tests Including AICPA Released Questions3 Quizzes
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💡TCP 4.2: Partnerships18 Topics|11 Quizzes
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🎥+✏️Introduction to Partnership🟢
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🎙️Introduction to Partnership
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🎥+✏️Partnership: Flow Through Entity🟢
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🎙️Partnership: Flow Through Entity
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✏️+🎥Partnership Formation🟢
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🎙️Partnership Formation
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🎥+✏️Partner’s Basis (Overview)🟢
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🎙️Partner’s Basis (Overview)
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✏️+🎥Example: Partner’s Inside and Outside Basis 🟢
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🎥+✏️Partnership Income Allocation Form 1065 and Schedule K🟢
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🎙️Partnership Income Allocation Form 1065 and Schedule K
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🎥+✏️Guaranteed Payment in Partnership🟢
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🎙️Guaranteed Payment in Partnership
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🎥+✏️Nonliquidating Distribution from Partnership to Partners🟢
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🎙️Nonliquidating Distribution from Partnership to Partners
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🎥Proprietorship Vs. Partnership Vs. Corporation
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🎥+✏️ Liquidating Distribution from Partnership to Partners🟢
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🎙️ Liquidating Distribution from Partnership to Partners
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🎥+✏️Introduction to Partnership🟢
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🎯Comprehensive Tests Including AICPA Released Questions3 Quizzes
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💡TCP 4.3: Trusts8 Topics|1 Quiz
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🎥+✏️Introduction to Estates and Trusts: Tax Form 1041🟢
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🎙️Introduction to Estates and Trusts: Tax Form 1041
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🎥+✏️Accounting Income in Trusts and Estates🟢
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🎙️Accounting Income in Trusts and Estates
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✏️+🎥Accounting Income for Estate and Trust Example🟢
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✏️+🎥Distributable Net Income and Income Distribution Deductions form 1041🟢
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🎙️Distributable Net Income and Income Distribution Deductions form 1041
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🎥CPA Exam Questions: Trust
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🎥+✏️Introduction to Estates and Trusts: Tax Form 1041🟢
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💡TCP 4.4: Gift Taxation7 Topics|4 Quizzes
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✏️+🎥Unified Transfer Tax System Part 1: Exclusions🟢
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🎙️Unified Transfer Tax System Part 1: Exclusions
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✏️+🎥Unified Transfer Tax System Part 2: Gift Tax🟢
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🎙️Unified Transfer Tax System Part 2: Gifts
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✏️+🎥CPA Simulations: Gift Tax🟢
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🎥+✏️Gifts of Noncash Property to Minimize the Donor’s Future Estate🟢
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🎙️Gifts of Noncash Property to Minimize the Donor’s Future Estate
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✏️+🎥Unified Transfer Tax System Part 1: Exclusions🟢
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🎯Comprehensive Test Including AICPA Released Questions2 Quizzes
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💡TCP 4.5: Tax Exempt Organizations4 Topics|1 Quiz
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🎯Comprehensive Test Including AICPA Released Questions1 Quiz
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💡TCP 5.1: International Taxation53 Topics|11 Quizzes
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✏️+🎥Introduction to Transfer Pricing + PPT Slides🟢
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🎙️Introduction to Transfer Pricing
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✏️+🎥Transfer Pricing Methods Explained🟢
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✏️+🎥Transfer Pricing Methods+ PPT Slides🟢
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✏️+🎥Objective of Transfer Pricing: Performance Evaluation🟢
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🎙️Objective of Transfer Pricing: Performance Evaluation
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✏️+🎥Objective of Transfer Pricing: Cost Minimization🟢
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🎙️Objective of Transfer Pricing: Cost Minimization
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✏️+🎥Organization for Economic Cooperation and Development | OECD + PPT Slides🟢
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🎙️Organization for Economic Cooperation and Development | OECD
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✏️+🎥Internal Revenue Service & Treasury Regulation + PPT Slides🟢
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🎙️Internal Revenue Service & Treasury Regulation
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✏️+🎥Comparable Uncontrolled Price Method + PPT Slides🟢
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🎙️Comparable Uncontrollable Price Method
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✏️+🎥Cost Plus Method | Comparable Profits Method | Profit Split Method + PPT Slides 🟢
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🎙️Cost Plus Method | Comparable Profits Method | Profit Split Method
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✏️+🎥Tax Jurisdiction | Worldwide Approach | Territorial Approach + PPT Slides 🟢
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🎙️Tax Jurisdiction | Worldwide Approach | Territorial Approach
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✏️+🎥U.S Tax Treatment of Foreign Income + PPT Slides🟢
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🎙️U.S Tax Treatment of Foreign Income
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✏️+🎥Foreign Tax Credit🟢
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🎙️Foreign Tax Credit (TCP)
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🎙️Dividend Received Deduction
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✏️+🎥Global Intangible Low Taxed Income (GILTI) + PPT Slides🟢
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🎙️Global Intangible Low Taxed Income (GILTI) TCP
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✏️+🎥 BEAT | Base Erosion Anti Abuse Tax🟢
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🎙️BEAT | Base Erosion Anti Abuse Tax
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✏️+🎥Tax Treaties + PPT Slides🟢
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🎙️Tax Treaties
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✏️+🎥Permanent Establishment & Branch vs Subsidiary🟢
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🎙️Permanent Establishment & Branch vs Subsidiary
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✏️+🎥Sourcing Income🟢
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🎙️Sourcing Income
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✏️+🎥Sourcing Deduction🟢
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🎙️Sourcing Deduction
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✏️+🎥Inbound Investment🟢
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🎙️Inbound Investment
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✏️+🎥Participation exemption or Dividend Received Deduction 🟢
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🎙️Participation exemption or Dividend Received Deduction
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✏️+🎥Outbound Transactions 🟢
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🎙️Outbound Transactions
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✏️+🎥Controlled Foreign Corporation + PPT Slides🟢
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🎙️Controlled Foreign Corporation (TCP)
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✏️+🎥Earning of CFC Investment in US property🟢
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🎙️Earning of CFC Investment in US property
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✏️+🎥Transition Tax 🟢
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🎙️Transition Tax
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✏️+🎥Foreign Derived Intangible Income🟢
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🎙️Foreign Derived Intangible Income
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✏️+🎥Interest Charge Domestic International Sales Corporation🟢
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🎙️Interest Charge Domestic International Sales Corporation
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✏️+🎥Expatriates and Corporate Inversion🟢
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🎙️Expatriates and Corporate Inversion
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✏️+🎥Introduction to Transfer Pricing + PPT Slides🟢
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💡TCP 5.2: Business Entity Structures13 Topics|6 Quizzes
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✏️+🎥Legal and tax Characteristics of Business entities 🟢
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🎙️Legal and tax Characteristics of Business entities
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✏️+🎥Section 351 (Planning)🟢
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🎙️Section 351 (Planning)
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✏️+🎥Business Income Taxation🟢
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🎙️Business Income Taxation
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✏️+🎥Deduction of Business Entity loss🟢
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🎙️Deduction of Business Entity loss
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✏️+🎥Most Advantageous Entity Type for Taxation Purposes (Compensation of owners) 🟢
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🎙️Most Advantageous Entity Type for Taxation Purposes (Compensation of owners)
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✏️+🎥Compensation of owners Simulation + PPT🟢
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✏️+🎥Conversion from one entity to another 🟢
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🎙️Conversion from one entity to another
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✏️+🎥Legal and tax Characteristics of Business entities 🟢
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💡TCP 5.3: Entity Tax Planning14 Topics|5 Quizzes
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✏️+🎥Tax Planning for Corporations🟢
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🎙️Tax Planning for Corporations
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✏️+🎥Corporate Capital Loss: Tax Strategy (Timing)🟢
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🎙️Corporate Capital Loss: Tax Strategy (Timing)
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✏️+🎥NOL Tax Strategy: Timing🟢
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🎯Comprehensive Test Including AICPA Released Questions1 Quiz
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I think its important to state which year this happened in because if this happened before 2018 or after 2025 deductions would be allowed
It was in a declared disaster area so it counts in those years.
Can you confirm if damages by federally declared disasters are subject to $100 floor? if Q1 we are not using it but in Q4 we are, thank you!
please disregard this, looks like $100 floor applies, thank you
Please assign quizzes that are related to the topic covered. This particular quiz is put under the video lecture of “Gambling and Unemployment” which covered nothing about the casualty losses. That would discourage students to do the quizzes because they are not tested on the topic covered.
Hello Sokhom,
Thank you for your feedback!
We have a large number of courses, many of which cover similar topics, and we are actively working on better aligning the quizzes with the specific content in each lecture. We understand how this can be discouraging for students when the quiz doesn’t seem directly related to the video, and we are making ongoing improvements to fix this.
We appreciate your patience and are committed to enhancing the experience for everyone.
4 of the all 5 questions are unrelated to the topic that has been discussed. The Casualty losses is discussed next. If you can re-arrange the quiz questions, it would be greatly appreciated.
Hello Sevara,
I’ve changed the location of the quiz in the Individual Income Tax Course.
If you are enrolled in another course, please let us know so we can make the appropriate adjustment.
Thank you for bringing this to our attention!
Hi, Here in the question the last year’s losses are given just to confuse isn’t it? I presume that gambling losses are not to be carried forward, if we lose beyond the gambling winnings its gone, right? Do please confirm. thank you
Hello Premika,
You’re exactly right! Gambling losses cannot be carried forward to future tax years. If a taxpayer has gambling losses exceeding gambling winnings in a given year, those extra losses are lost forever and cannot be deducted later.
In this question, the previous year’s losses ($5,000) were indeed included only to test your understanding. They’re meant as a distractor because they are not deductible in the current year.
Your understanding is correct!