This class was created by Brainscape user Jennifer Gay. Visit their profile to learn more about the creator.

Decks in this class (14)

Gross Income
What is gross income,
What qualifies as alimony,
What prizes and aware are not gro...
3  cards
Excluded From Gross Income
Exclusion for death benefits,
Sale of insurance policy,
Insurance payment by installments
20  cards
Above the Line Deductions
What is taxable income,
Rule,
What are ordinary expenses
7  cards
Deductions: Expenses for the Production of Income
Expenses for the production of in...,
Limitations on
2  cards
Deductions: Business vs. Personal Expenses
Business use of home,
Limitation on deduction for busin...,
Business use of automobile
10  cards
Deductions: Capitalization and Depreciation of Property Used in Trade or Business or Held for Production of Income
Capitalization and depreciation o...,
Definition of depreciation
2  cards
Deductions: Losses
Losses,
Wagering losses
2  cards
Alimony Deductions
Alimony deductions
1  cards
Standard Deduction
Standard deductions are deducted ...,
Amount of standard deduction
2  cards
Itemized Deductions
Limitation of itemized deductions,
Non business and consumer interest,
Mortgage debt exception
17  cards
Tax Credits & Rates
Tax credit vs deduction,
Personal income tax credits,
Tax rates
3  cards
Filing Status and Dependents
Filing status,
Qualifying as a dependent
2  cards
Gains or Losses from the Sale or Disposition of Property
Amount realized,
Mortgages liabilities or encumbra...,
Adjusted basis
10  cards
Tax Accounting
Time accounting period,
Tax accounting methods,
Cash receipts and disbursements m...
8  cards

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PA Fed Income Tax

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