Reg 2 Module 4

Question 1

The amount of income for a child under 18 that is taxable at the rates that apply to estates and trusts is deemed the :

Answer 1

Kiddie Tax

Question 2

What is the standard deduction for Kiddie Tax

Answer 2

950

Question 3

Once the standard deduction has been applied, how much is then subject to kiddie tax

Answer 3

950

Question 4

After the standard deduction (950) and the amount subject to kiddie tax (950) is applied, what rates apply?

Answer 4

estates and trusts

Question 5

What itemized deduction is an addback for taxable income regarding AMT

Answer 5

State tax.

Question 6

Tax-Exempt interest from private activity bonds (generally ) and accelerated depletion, dep, and amort. are:

Answer 6

AMT Preferences ( addbacks)

Question 7

Deductible contributions are not an adjustment to arrive at

Answer 7

AMTI

Question 8

Credits for AMTL can be carried forward

Answer 8

infinitely

Question 9

Kiddie tax applies to which individuals

Answer 9

up to 17 or 18-24 who are full time students and dont provide over half of their supprt