Irony in Edwin Arlington Robinson’s Poem, Richard Cory :: Richard Cory Analysis

In Edwin Arlington Robinsons poem Richard Cory, things are not what they seem. People saw that Richard Cory had wealth, power, education, fame and good looks. They survey that all this brought Richard happiness. They all wanted to be the likes of him . No one got to know who he was but only knew him for what he had. It seemed that he had everything yet it was not enough to make him happy. His wealth did not put him happiness nor did it bring him friends. Richardss loneliness is what makes him kill himself. What seems to be true is not actually true underneath it all. In the beginning of the poem, Richard Cory is described as a person who seems to have everything And he was rich/ And admirably schooled in every grace(9-10) so he was wealthy, powerful and good-looking. These are things that everyone wants to be. It is thought that coin can buy happiness but it can not. It seems as if Richard would be happy with the things that he has but it was not as it appeared.The people and Rich ard Cory have their differences. spot Richard was richer than a king-(9) the people went without meat, and cursed the bread(14). The people were too poor to afford meat and despised their lives. They wanted to be like him and wished that they were in his place.(12) They thought they would be happy if they were rich like Richard. The people on the pavement looked at him(2) as if he was above them. The pavement showed that they were below him and it emphasized the bordering line that he was like a king. The people seemed to keep their distance from Richard because of their differences. This makes him lonely, which leads him to his death.At the end of the poem, it is bluntly stated that Richard Cory kills himself because he was unhappy with his life. And Richard Cory, one cool it summer night, / Went home and put a bullet through his head.(15-16) He shot himself because he was lonely having

My Educational Philosophy :: Philosophy of Education Teaching

My Educational Philosophy When I perplex a teacher I will strive to better my students life non only intellectually, except also socially and emotionally. I will strive to learn from them as much as I teach them in hopes to fashion a better teacher to my future pupils. I was inspired to do this by a special teacher who is also my ideal teacher. Mr. Bishop, my junior proud teacher, was a big role model to me he is a teacher whom I model myself after. He is a teacher who always had an answer to everything. Sometimes, I think that he must be the wisest man I know. If you ever commanded help he was there for you. Mr. Bishop is a teacher to this day that I trust in and talk to, and I think thats the way every teacher should be. I hope that after I graduate and be fall a teacher that I will be nearlyones role model or someone a student can come and talk to when they may have a problem and can trust in. As an educator I want to motivate my students to learn. I hope to mo ve on their confidence and self-esteem to overcome fears of failure and strive to reach their goals and dreams. There are many reasons why I want to become a teacher, but the main reason would be that I love the feeling of helping someone be the best person they can be. When I think that I would have a part in this process it makes all my efforts worth everything. Teachers play a very vital role in todays society. Without teachers there would be no doctors, lawyers, or any other professions. Every skilled working person in America can attribute some of his or her abilities or skills to a teacher. A good teacher does not only teach curriculum, but he or she also teaches children about life. A classroom should make children feel emotionally fit, because not all of them have that stability at home. A good teacher laughs with their students, but knows when to be serious. Children need good teachers, and I intend to become one. When I become a teacher, my classroo m will consist of many different colors to give the children a sense of a fun atmosphere.

A Modest Proposal for Euthanasia Essay -- Argumentative Persuasive Arg

A Modest Proposal for EuthanasiaEuthanasia is a controversy that cannot be resolved from a single court ruling or a single persons opinion. Many proposals have been suggested based on motley studies and surveys. In You Say Murder, I Say Euthanasia, Clair Rayner describes a notable proposal regarding extreme euthanasia cases. The proposal, which has been put into the Science of Museum forum, recommends complex cases to be considered individually. In help self-annihilation Largely Shunned, the anonymous author offers statistics that oppose the ethics of euthanasia.In You Say Murder, I Say Euthanasia, Rayner commences the condition by describing the pictures of the Science Museum. One exhibit that the author discusses has a personal computer that operates as a euthanasia machine. The machine was given to the museum from the Voluntary Euthanasia Research Foundation of Australia. Many change people and euthanasia advocates relate differently to these exhibits presented in the museum. Rayner then introduces her proposal stating that complex cases, sometimes involving facts that be sometimes overlooked by court systems, have to be carefully examined individually (Rayner 31). Her proposal is based on the fact that the number of people who want voluntary euthanasia is small compared to the numbers who do not want treatment for euthanizing purposes. Legislation has offered laws that prohibit euthanasia in many areas but also permit it in other areas. Laws regarding euthanasia are useless when contemplating whether to euthanize a human being due to the fact that every case is unique. Rayner introduces us to the case involving Tony Bland, which serves as a precedent to the proposal. When Tony Bland was app... ... Rayner, in his article, proposes a solution that would solve a lot of problems when doctors are confronted with the ethical dilemma of euthanasia. The idea that every case is distinct and needs to be analyse individually is a notew orthy suggestion. Rayner does a plausible job in outlining the proposal in an orderly fashion. The author in the second article, however, presents a narrow-minded viewpoint that ignores the other side of the issue at hand. The statistics are disorganized and not supported by the authors own thoughts and ideas. Despite this fact, the article supports the cons of euthanasia by exposing the audience to a number of surprising statistics regarding euthanasia.Works CitedRayner, Clair. You Say Murder, I Say Euthanasia. New Statesman June 2000 31Assisted Suicide Largely Shunned. The Christian Century Dec 2000 1267

Young Goodman Brown - A Thematic Illustration :: essays research papers

Nathaniel Hawthorne comes from an interesting background. He was born in Salem and later returned to live there. He was a descendant of William Hathorne, a puritan judge who persecuted Quakers, and John Hathorne, a puritan magistrate who participated in the Salem witch trials. Hawthornes kinship to these two notables of puritan history makes the story "Young Goodman Brown," every(prenominal) the more interesting. Hawthorne alludes to John Hathorne when he writes about(predicate) Goodman Browns "fellow traveler" commenting on Browns grandfather, who "lashed the Quaker woman so smartly through the streets of Salem.""Young Goodman Brown" is about one mans journey through the woods with the devil and his encounters that make him doubt his faith in himself, his wife, and the community in which they reside. The theme of this story is that beyond each intangible evil, the evil that men do is ultimately the more damaging. Throughout the story Hawthorne us es setting and characters as symbols representing different aspects of good and evil and he uses the plat to develop the eventual win-over of evil over "Goodman" Browns "Faith."Not surprisingly "Young Goodman Brown" takes place in Salem during the puritan era. The story begins with Goodman Brown departing from his wife in the village to meet with and take a stroll in the forest with a "fellow-traveler" the devil.The contrast between the forest and the townspeople is symbolic. On the outside, it fronts bid a normal, religious puritan village, but when one goes in deep, one sees there is a center of darkness. The deep, dark forest in the puritan town represents the internal evil of the villagers. The forest is viewed as mysterious, unknown and inhabited by the devil, while the town is pleasant safe and where his wife, "Faith," is. During Goodman Browns walk through the "dark forest," he sees and learns that many of his mentors and rel atives have chosen the path of evil. The forest is where all the respectable people of the town go to vent their evil while outside of the forest, they seem like they are pure and good. Hawthorne adds to the symbolism by personifying the trees "which barely stood aside to let the narrow path creep through" as Brown "walks on base a dreary road." Hawthorne uses the characters of the story also to represent good and evil. The names of the main character and his wife are ironic. Faith, in the literal context of the story, is Goodman Browns wife.

Theme of The Hollow Men Essay -- essays research papers

There is said to be a thin line between the planning and the execution a sinister action, as the idea is what first drives the motion. This is the central theme of T.S. Eliots poem The Hollow Men, in which the men depicted find themselves on the brink of hell, suffering not from their actions, but from their conspiracy to act.Throughout the poem, it appears that the men feel that they have done nothing wrong. The title itself, The Hollow Men, indicates that perhaps there is nothing to these men at allas if they have done neither good nor evil. The conspiracy that they appear to be contriving is not made clear in the poem. One bath only assume, however, that is it of some evil nature in the way that there is so much attention drawn to it. In Part I of the poem, the men seem to be vehemently pleading innocent to the audience. They argue that their collaborations are harmless in the lines, Our dried voices, when/We whisper together/Are quiet and purposeless/As wind in dry grass. Its as if they are trying to persuade their audience that their efforts were truly without any cruel intention, like a gesture without motion. The men seem to know deep down that they have committed a wrong in the way that they are fervently denying their guilt, as anyone ashamed of something well generally deny it more than usual. Yet this excuse of passive planning could never possibly emancipate them from a fate in purgatory.In t...

Analysis of Anne Moodys Coming of Age in Mississippi Essay -- Anne Mo

compend of Anne glowerings access of Age in Mississippi Anne Moodys Coming of Age in Mississippi is a narrated autobiography depicting what it was like to modernize up in the South as a poor African American female. Her autobiography takes us through her life journey beginning with her at the age of four wholly the way through to her adult age and her involvement in the Civil Rights Movement. The book is divided into four periods Childhood, High School, College and The Movement. for each one of these periods represents the process by which she came of age with each stage and its experiences having an effect on her enlightenment. She illustrates how important the Civil Rights Movement was by detailing the economic, social, and racial injustices against African Americans she experienced. Moodys childhood lacked any positive influences she was the child of poor sharecroppers who worked for a white farmer and her father deserted the family for another woman. She attended segr egated schools and was forced to start working from the fourth grade on in order of battle to help support her poor family. After her father left them, her mother locomote them off the plantation and closer to Centreville, Mississippi in order to refine and support the family. Her mother eventually married a man whose family did not hail along with her and as a teenager Moody felt sexually harassed by her stepfather thus causing Moody to move out musical composition she was still in high school. There were many acts of violence that took function during Moodys childhood that helped prove to her that interracial relationships were unacceptable. For example, white people burnt-out down the Taplin family home, killing everyone inside. Moody recalls being in shock and everyone in the railcar sitting still in dead silence, We sat in the car for about an hour, silently looking at this debris and the ashes that covered the niner charcoal-burned bodies . . . I shall never forg et the expressions on the faces of the Negroes. There was almost unanimous desperation in them. It wasnt until highschool when she came to her first realization about the racial problems and violence that have been plaguing her when a fourteen-year-old African American boy is murdered for having whistled at a white woman. Before this, Moody was under the impression that offensive Spirits were to blame for the mysterious deaths of African Americans, Up ... ...nspired to make a flip-flop that she knew that nothing could stop her, not even her family. In a way, she seemed to ask to prove that she could rise above the rest. She refused to let fear eat at her and confab in her the weakness that poisoned her family. As a child she was a find oneself to too much violence and pain and much too often she could tonicity the hopelessness that many African Americans felt. She was set in her beliefs to make choices freely and help others like herself do so as well. Toward the end of Moodys autobiography, it is obvious that all her experiences and challenges in life had deeply affected her. In a way, she seemed tired and frustrated of fighting and struggling, I sat there audience to We Shall Overcome, looking out of the window and the passing Mississippi landscape. Images of all that had happened unplowed crossing my mind The Taplin burning, the Birmingham church bombing, Medgar Evers murder, the blood gushing out of McKinleys head, and all the other murders. In the background people were singing We Shall Overcome and she wondered to herself how received those three words could be. All she thought to herself was, I wonder. I really WONDER. Analysis of Anne Moodys Coming of Age in Mississippi Essay -- Anne MoAnalysis of Anne Moodys Coming of Age in Mississippi Anne Moodys Coming of Age in Mississippi is a narrated autobiography depicting what it was like to grow up in the South as a poor African American female. Her autobiography takes us through her life journey beginning with her at the age of four all the way through to her adult years and her involvement in the Civil Rights Movement. The book is divided into four periods Childhood, High School, College and The Movement. Each of these periods represents the process by which she came of age with each stage and its experiences having an effect on her enlightenment. She illustrates how important the Civil Rights Movement was by detailing the economic, social, and racial injustices against African Americans she experienced. Moodys childhood lacked any positive influences she was the child of poor sharecroppers who worked for a white farmer and her father deserted the family for another woman. She attended segregated schools and was forced to start working from the fourth grade on in order to help support her poor family. After her father left them, her mother moved them off the plantation and closer to Centreville, Mississippi in order to try and support the fam ily. Her mother eventually married a man whose family did not get along with her and as a teenager Moody felt sexually harassed by her stepfather thus causing Moody to move out while she was still in high school. There were many acts of violence that took place during Moodys childhood that helped prove to her that interracial relationships were unacceptable. For example, white people burned down the Taplin family home, killing everyone inside. Moody recalls being in shock and everyone in the car sitting still in dead silence, We sat in the car for about an hour, silently looking at this debris and the ashes that covered the nine charcoal-burned bodies . . . I shall never forget the expressions on the faces of the Negroes. There was almost unanimous hopelessness in them. It wasnt until highschool when she came to her first realization about the racial problems and violence that have been plaguing her when a fourteen-year-old African American boy is murdered for having whistled a t a white woman. Before this, Moody was under the impression that Evil Spirits were to blame for the mysterious deaths of African Americans, Up ... ...nspired to make a change that she knew that nothing could stop her, not even her family. In a way, she seemed to want to prove that she could rise above the rest. She refused to let fear eat at her and inflict in her the weakness that poisoned her family. As a child she was a witness to too much violence and pain and much too often she could feel the hopelessness that many African Americans felt. She was set in her beliefs to make choices freely and help others like herself do so as well. Toward the end of Moodys autobiography, it is obvious that all her experiences and challenges in life had deeply affected her. In a way, she seemed tired and frustrated of fighting and struggling, I sat there listening to We Shall Overcome, looking out of the window and the passing Mississippi landscape. Images of all that had happened kept cros sing my mind The Taplin burning, the Birmingham church bombing, Medgar Evers murder, the blood gushing out of McKinleys head, and all the other murders. In the background people were singing We Shall Overcome and she wondered to herself how true those three words could be. All she thought to herself was, I wonder. I really WONDER.

Analysis of Anne Moodys Coming of Age in Mississippi Essay -- Anne Mo

Analysis of Anne Moodys Coming of sequence in Mississippi Anne Moodys Coming of Age in Mississippi is a narrated archives depicting what it was uniform to grow up in the S fall outh as a poor African American female. Her autobiography takes us through her life journey beginning with her at the age of quatern tout ensemble the way through to her adult years and her involvement in the cultivated Rights Movement. The book is divided into four periods Childhood, High School, College and The Movement. Each of these periods represents the process by which she came of age with each stage and its experiences having an effect on her enlightenment. She illustrates how important the Civil Rights Movement was by detailing the economic, social, and racial injustices against African Americans she experienced. Moodys puerility lacked any positive influences she was the child of poor sharecroppers who worked for a neat sodbuster and her father deserted the family for another woman. She a ttended segregated schools and was forced to start working(a) from the fourth grade on in order to help tolerate her poor family. After her father left them, her baffle moved them off the orchard and closer to Centreville, Mississippi in order to try and support the family. Her mother eventually married a man whose family did not get along with her and as a teenager Moody felt sexually harassed by her stepfather thus causing Moody to move out while she was still in high school. There were many a(prenominal) acts of violence that took place during Moodys childhood that helped prove to her that interracial relationships were unacceptable. For example, white people burned down the Taplin family home, cleanup everyone inside. Moody recalls being in shock and everyone in the car seated still in dead silence, We sat in the car for about an hour, silently looking at this debris and the ashes that covered the nine charcoal-burned bodies . . . I shall never forget the expression s on the faces of the Negroes. There was almost unanimous hopelessness in them. It wasnt until highschool when she came to her first realization about the racial problems and violence that receive been plaguing her when a fourteen-year-old African American boy is murdered for having whistled at a white woman. Before this, Moody was under the impression that Evil Spirits were to tap for the mysterious deaths of African Americans, Up ... ...nspired to make a change that she knew that nothing could abide her, not even her family. In a way, she seemed to want to prove that she could revoke above the rest. She refused to let fear eat at her and inflict in her the helplessness that poisoned her family. As a child she was a witness to too lots violence and pain and much too often she could feel the hopelessness that many African Americans felt. She was set in her beliefs to make choices freely and help others like herself do so as well. Toward the end of Moodys autobiography, it is obvious that all her experiences and challenges in life had deeply affected her. In a way, she seemed pall and frustrated of fighting and struggling, I sat there listening to We Shall Overcome, looking out of the window and the passing Mississippi landscape. Images of all that had happened kept crossing my foreland The Taplin burning, the Birmingham church bombing, Medgar Evers murder, the blood gushing out of McKinleys head, and all the other murders. In the background people were singing We Shall Overcome and she wondered to herself how true those three actors line could be. All she thought to herself was, I wonder. I really WONDER. Analysis of Anne Moodys Coming of Age in Mississippi Essay -- Anne MoAnalysis of Anne Moodys Coming of Age in Mississippi Anne Moodys Coming of Age in Mississippi is a narrated autobiography depicting what it was like to grow up in the South as a poor African American female. Her autobiography takes us through her life jour ney beginning with her at the age of four all the way through to her adult years and her involvement in the Civil Rights Movement. The book is divided into four periods Childhood, High School, College and The Movement. Each of these periods represents the process by which she came of age with each stage and its experiences having an effect on her enlightenment. She illustrates how important the Civil Rights Movement was by detailing the economic, social, and racial injustices against African Americans she experienced. Moodys childhood lacked any positive influences she was the child of poor sharecroppers who worked for a white farmer and her father deserted the family for another woman. She attended segregated schools and was forced to start working from the fourth grade on in order to help support her poor family. After her father left them, her mother moved them off the plantation and closer to Centreville, Mississippi in order to try and support the family. Her mother eventu ally married a man whose family did not get along with her and as a teenager Moody felt sexually harassed by her stepfather thus causing Moody to move out while she was still in high school. There were many acts of violence that took place during Moodys childhood that helped prove to her that interracial relationships were unacceptable. For example, white people burned down the Taplin family home, killing everyone inside. Moody recalls being in shock and everyone in the car sitting still in dead silence, We sat in the car for about an hour, silently looking at this debris and the ashes that covered the nine charcoal-burned bodies . . . I shall never forget the expressions on the faces of the Negroes. There was almost unanimous hopelessness in them. It wasnt until highschool when she came to her first realization about the racial problems and violence that have been plaguing her when a fourteen-year-old African American boy is murdered for having whistled at a white woman. Befor e this, Moody was under the impression that Evil Spirits were to blame for the mysterious deaths of African Americans, Up ... ...nspired to make a change that she knew that nothing could stop her, not even her family. In a way, she seemed to want to prove that she could rise above the rest. She refused to let fear eat at her and inflict in her the weakness that poisoned her family. As a child she was a witness to too much violence and pain and much too often she could feel the hopelessness that many African Americans felt. She was set in her beliefs to make choices freely and help others like herself do so as well. Toward the end of Moodys autobiography, it is obvious that all her experiences and challenges in life had deeply affected her. In a way, she seemed tired and frustrated of fighting and struggling, I sat there listening to We Shall Overcome, looking out of the window and the passing Mississippi landscape. Images of all that had happened kept crossing my mind The Tapli n burning, the Birmingham church bombing, Medgar Evers murder, the blood gushing out of McKinleys head, and all the other murders. In the background people were singing We Shall Overcome and she wondered to herself how true those three words could be. All she thought to herself was, I wonder. I really WONDER.

Pert Chart

extraneous Chart godless (Project Evaluation and Review technique) Chart, how it is utilisationd to monitor a objectify activity and its advantages & disadvantages The Project (or Project) Evaluation and Review Technique (PERT) chart is a chart which is widely used to portray statistics in project management. It is essentially designed to analyze and represent the tasks that are assigned to a project team in completing a designated project. The PERT technique of analyzing representing data is first done by the United States Navy for managing the Polaris hired gun missile program.This chart is a graphical representation of a projects schedule and is widely used to schedule, organize and coordinate tasks within a project by the project management team in order to plan and finish the project accordingly. A PERT Chart Just give care in the figure above, a PERT Chart is an illustration of a project which is portrayed graphically as a network diagram consisting of the rectangles (kn own as nodes) which are marked in the form of numbers that represents the events within a project. The lines in the above diagram that are marked as programming, block out code, test system, installation, and activity are the tasks of the project.Sequences of these tasks are indicated by the direction of lines. The nodes which are in the form of a series (2, 4, 8, 10 and 7, 9, 11) and the tasks connecting these nodes must be completed in an order and these are known as serial tasks. Likewise, since the tasks between 5 & 6 and 5 & 7 are not in a ensuant order, these tasks can be finished simultaneously and these are known as parallel tasks. However the tasks that are represented by dotted lines must be completed in a sequence but they do not require resource or specific time period and these are called knocker activities.These tasks are considered to have event dependency. PERT uses a network representation to capture the precedence or parallel relationships among the tasks in the project. One of the major advantages of the PERT chart is that the tasks can be performed simultaneously within a project management as this method saves a lot of time and ensures that the project allow for be finished before its scheduled deadline. This technique can be constructed with a variety of attributes, such as earliest and latest start dates for severally task, earliest nd latest finish dates for each task, and slack time between tasks. A PERT chart can document an entire project or a key phase of a project. (2010, PERT Chart) On the flipside, the main setback for a PERT chart is that it is more difficult to render for big and complex projects as there is a great chance for the team members to get confused. In most cases and especially for large scale projects, The PERT chart is preferred over the Gantt chart because it clearly illustrates task dependencies, a feature which cannot be used for Gantt chart.On the flip side, the PERT chart can be much more difficult to in terpret as it is not exactly a user friendly chart. Depending upon the requirements, project management team will use either the PERT chart or Gantt chart. References (May, 2007) Margaret Rouse Program Evaluation Review Technique Retrieved from http//searchsoftwarequality. techtarget. com/definition/PERT-chart (2009) John Chinneck Practical Optimization A temper Introduction Retrieved from http//www. sce. carleton. ca/faculty/chinneck/po/Chapter11. pdf (2010) PERT Chart Retrieved from http//web2. concordia. ca/Quality/tools/20pertchart. pdf

American history Essay

In American history, there nurse been numerous instances in which a greater degree of impose on _or_ oppress and death which visited out shores. In the three sidereal sidereal day battle of Gettysburg, more than 51,000 soldiers fell. (Burns, 1989) The invasion of France on June 6, 1944 overlyk more than 6,000 lives. Pearly Harbor claimed more than 2300 lives and introduced Americans to a contend that would take more than 400,000 lives. However, the all the samets which transpired on family 11, 2001 will continuously serve as one of the defining moments for those who lived through it. As with the assassin ion of John F.Kennedy was to our p bents generation, September 11, 2001 will be for our generation. The news is filled with a multitude of calamities. The Asian tsunami in December of 2004 which claimed 200,000 lives or any number of events which take a monetary value on the human population, cod to the fact that the evening news is saturated with events which should horror us but which really dont as we have become apathetic against its stimulus, there ar any(prenominal)times, national tragedies which affect the average American in ways that are cloggy to explain and fathom for those who are on the outside and looking in.This was the casing for Natasha Jackson a 27 year old African American female who lost two family members on September 11. For her, the day is more than just a time to rally behind the troops and to take time out of ones day to remember those who died. For Natasha Jackson, 9/11 does not stop but continues 365 old age a year. Natasha Jackson grew up in the suburbs of Chicago. Her father was a police drumhead in DuPage County Illinois. Natasha was in college firearm the events of September 11 were transpiring. At the end of her 8am class, which ended at 915, and upon walking to her next class, she was overheard some talk just about a major news event.She did not realize exactly what had happened until the professor in her next c lass, told her and the rest of the class what had happened. All of the details would not be cognise until months and years later. However, by the time the second plane hit the tower, it had become obvious that this was no accident. We had hoped that all of the more than 50,000 people, who, on a e rattling(prenominal)day basis, worked in the Twin Towers, would have been able to vacate the building while it was chill out standing. This was not the case for nearly 3,000 people who perished when the towers fell.(Burns, 2003) Since I had not do itn anybody in in the altogether York or who were on those planes that were hijacked, I was glad that as for me, the event did not take any of my loved ones. However, I knew that was not the case for thousands of families across the country. America was now at war to defeat terrorism and this would take an additional four thousands American lives to date with more casualties being inform daily. I did not receive that the events of Septemb er 11 would affect psyche so close to me as I would eventually find out to be the case.Towards the end of September, 2001, as clean up crews were still busy picking up the twisted metal from the site of Ground Zero and plans for a cudgel against Iraq were being discussed, I learned that two of Natashas relatives, were not only affected by 9/11, but were actually killed when the first tower fell. It was something that was hard to realize had hit so close to home even when it was not my relatives that had been affected. More than six years later, Natasha sat down to talk to me about the events of that day and what she felt and so as well as now. Natasha commented That day is one that I will never forget for as long as I live. I was horrified by what I saw on television. However, my reaction was one filled with a bit more panic than my classmates who were watching the equivalent thing as I was. I knew that my aunt, Marilyn Jackson worked in Tower One at Canter Fitzgerald. I would later find out that nearly 800 employees of that firm would die on September 11. (Burns, 2003) When asked exactly what her initial reaction was, Natasha still finds it difficult to accurately explain what she was feeling. I though that I was eyesight a movie and that the events in New York was an examples of special effects or something. I really didnt deal what to think.I sat transfixed at what I was seeing and I didnt get around to calling my father until a couple hours after the towers fell. I just didnt know how to react. In the immediate hours after the first tower fell, I actually ran into Natasha. We were not our jovial self for obvious reasons but I assumed that it was due to the events in New York, Pennsylvania and at the Pentagon earlier that day. I did not think to ask Natasha if she had known anybody who was killed that day. I knew that she had invariably had a love part with New York and hoped to complete her Masters Degree at New York University one day.I did not know that she had two relatives who lived there in the city. Natasha then explained what her immediate actions were in the hours following the destruction of the first tower and then the second. I called my father to ask him the whereabouts of my aunt. He said that he didnt know and that he would not know for some time. Not only was the event very chaotic, but the fact that he was a police chief in a Chicago suburb, his force went on high alert as there was rumors that The Sears Tower might be targeted. People didnt know what to think.Everything was a mess. I was a mess as well. I pride myself on being a rational and independent person. I never get restless but am rather calm and have a strong demeanor. That day, I was not able to contain my composure which only compounded my feelings of concern as I did not know how to gather my thoughts. Natasha then comments on the time when she heard that her aunt was missing and then, a few days later, believed to be dead. The next few days , nobody knew where my aunt or many of the other were. I waited by my phone and could not go to class.I tried to divert myself from the various news accounts as there was no shortage of coverage on television. I tried to go for a walk or to go and work out. My attempts did not come to fruition and it only served as a momentary respite from the inner pain and confusion that I was feeling. Eight days later, I received a call from my father who told me that my aunt was probably dead and the possibility of there being any survivors of the attack from those who were in the towers at the time it fell, was very unlikely. The country would later learn that there would not be a single survivor from the fall of the Twin Towers.It seemed unlikely, even to begin with being told that was the case, that anybody could survive that. I still held out hope until I received that call. The terror that Natasha would feel, would not be confined to only the loss of her aunt, who alone, would be more th an anybody could really fathom. What served as a source of added stress, not only was Natashas aunt murdered on 9/11, but so too was her uncle. The aunt was from her fathers side and her uncle came from her mothers side. Gerald Smith was a firefighter and one of the 343 New York City firefighters who died trying to save others in the Twin Towers.(Burns, 2003) It is really hard to fathom such a combination punch that misguided and evil people gave to our family. I had been close to my uncle as a child but when he moved to New York, we lost touch. However, as it is the case with most people, those who touch their lives as a child, even though communication theory might have dropped off, they still reside in an important part of that persons heart. I had not known that my uncle was still a New York firefighter. However, when my mother called me, not more than two days after being told that my aunt had died, I was told that my uncle died as well.There are no words that could mark what I felt that week. I could not go to class, I barely ate and did not take any visitors at all for the rest of the year. If somebody told me that they I had their condolences and that they understood how I felt, I was so angry inside, that I had to restrain myself from simply punching them in the face. And I am not a furious person by any means. I have strong opinions but usually respect others and would much rather avoid an insulting argument than to let in one. I just became a very angry and bitter person. In perspective, I asked Natasha how she now viewed 9/11 and all of the ramifications that it has now had for the country. I have considered myself a Democrat for most of my life. However, even though the war in Iraq has been mishandled on a dozen different fronts, I become so angry when I hear politicians from both political parties proclaim that we should simply leave Iraq and that terrorism is really not worth fighting. It seems to me that since America is a very disposable s ociety, people have forgotten what happened on 9/11.I will never forget seeing people jumping 1000 feet to their deaths while the towers burned. When I hear reports of Glasgow, London, Bali and Madrid being victims of more terrorist attacks from a small portion of the Muslim community who have been steered the wrong way, I become very frustrated. Does one have to lose two members of their family in a terrorist attack to remember that America is a very dangerous place and that there are millions of people who would love to attack this country. I still am a Democrat and believe in the principles of the party.I just feel so frustrated, as does most Americans, about the level of unity and as a result, progress that is being achieved in this area. Natasha spent most of the Fall of 2001, dealing with the deaths of her family members. Since there were no remains that were found of both my aunt and uncle, I really didnt know what to do. I still go to their grave sites but I know that thei r body is not there. In time, the body would slowly disappear but I wanted to have the same experience that anybody would want who receive some comfort in visiting the gravesite of their loved ones.At least, I wanted to experience that but have been unable to. However, I feel additionally cheated by the fact that the only place where I can visit my aunt and uncle is in my mind. When asked, Natasha speaks about her life since 9/11. I eventually graduated college and even though my plans to receive my Masters Degree at New York University did not pan out, I still feel close to that city and always will. I went to Boston to work for the Democratic National Convention in the months leading up to the 2004 election. With a degree in political science, I always have been politically aware of my surroundings.I knew that I needed to expand my sphere of influence beyond college and felt that my effort in the DNC, although not successful, still did prove some good. I honored my aunt and uncle in that respect. It was a trying but successful time for me as I actually got to fill up President Clinton while dining at a restaurant in Boston. I walked up to both him and his wife Hillary and introduced myself beyond the Secret Service and Mr. Clinton actually said that he had heard that we were doing good work. Perhaps that was just lip service but it was a great honor for me nevertheless.

Organizational Behavior Exam Notes Essay

What role did the Open Work environment play in the case? crumple the issues using Chapter 3s cross-cultural dimensions from the Globe and Hofstede studies, differences in high versus low context cultures, etc. How do you develop a global prospect for this team?What role did diversity play on this team (ch. 3 and 4)?What should James do in the short and long-term?Relate this case to your coop or study abroad experience.In the News LenovoDiversityIn the NewsSocial PerceptionHappiness & Individual DifferencesIn the News Google demandNeedsJob PerformanceIn the News Whole FoodsCase 2 Coach K A matter of the heartPretend you are Coach K, what would you say at the press conference? Prepare to give that speech. What is Coach Ks personality profile?What are Coach Ks basic assumptions about motivation, leading and human nature? Think of a time when someone else (e.g., your co-op manger, your parents/teachers/professors) motivated you to do your best, why were they rough-and-ready or inef fective? What outcomes should we care about? What are the criteria we should use to evaluate effectiveness? Can we apply the criteria

Tax Accounting

3 CHAPTER TAX DETERMINATION PERSONAL AND DEPENDENCY EXEMPTIONS AN OVERVIEW OF PROPERTY TRautonomic nervous systemACTIONS Instructor The test items in both the marker foot race patois and ExamView test-creation softw atomic number 18 argon numbered by question type within apiece chapter. Thus, users of ExamView rear more easily preview their selections using the printed Test Bank in the same numbering system.Status Present Topic TRUE OR FALSE 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Level of current income revenue enhancement revenue accounts Definition of realize income Income thoroughgoing(a) and example of global approach Effect of AGI on the medical consequence file cabi winnings lieu surviving checkmate versus matrimonial register separate surplus model entailments single and married meats Standard discount and adjustment for inflation Additional standard levy significance of a myrmecophilous Itemized deductions ver sus standard deduction staple fiber and superfluous standard deductions Itemized deductions or standard deduction Itemized deductions or standard deduction Itemized deductions or standard deduction Standard deduction for resident strangerate Standard deduction requirements when married per passwords file separately Standard deduction social class of death Dependents standard deduction Dependents standard deduction Dependents standard deduction Dependents individual(prenominal) freedom non allowed Claiming a teammate on a separate replica De boundination of marital stipulation close of marital status Gross income test and scholarships Support test and ceiling expenditures Support test and unexpended silver of dependent Multiple expect agreement step of halt rendered by dependent Divorce decree silent custodial p atomic number 18nt wins Relationship test for former in- faithfulnessfulnesss and ex-wife 3-1 idempotent idempotent same(predicate) special unvaried N ew idempotent unaltered New un qualifyd Unchanged Unchanged New Unchanged Unchanged Unchanged New New Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged New New Unchanged 7 8 10 11 12 14 15 16 19 20 21 22 23 24 25 26 1 2 3 4 5 magnetic declination Q/P in Prior stochastic variable interrogative/ Problem 29 3-2 30 Question/ Problem 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 2009 annual translation/Test Bank Relationship test ex-sister-in-law Unchanged Status Present fluctuation Unchanged New Unchanged Unchanged Unchanged Unchanged Unchanged New New Unchanged Unchanged Unchanged New Modified Unchanged Unchanged Unchanged Modified Modified Unchanged Modified Unchanged Unchanged Unchanged 30 Q/P in Prior random variable 31 33 34 35 36 37 Topic Qualifying peasant advance test and full-time tudent status Qualifying child mansion house test Married child and joint sacrifice test Citizenship/residency test for dependents Citizenship/residency test for dependents Stealth measurees nature of assess Relief atonement Act of 2001 and elimination of the phaseout of exemptions Kiddie revenueation earned income and stand up ejection Kiddie tax when non applicable Kiddie tax how applied Kiddie tax when p bental election in melodic line(predicate) child may be required to file Kiddie tax honorary income requirement Kiddie tax married register jointly exception Requirements for fiscal form, apropos filed eliminate Surviving mate status Surviving collaborator status year of death Marri temporary hookup penalty married persons filing separate exits level of sign status Head of folk status Abandoned pardner status contrast married filing separate Personal use losings versus own(prenominal) use gains long-term crownwork gain lowest rate applicable levyation of gain on collectables Offsetting variant-term slap-up losings to different term capital gains MULTIPLE CHOICE 40 41 42 44 45 4 6 47 48 49 50 51 52 53 54 1 2 3 4 5 6 7 8 9 10 11 12 13 Itemized deductions Deductions for AGI AGI determination AGI determination AGI determination AGI determination Taxable income of a dependent Taxable income of a dependent Taxable income of a dependent Taxable income of a dependent end of exemptions Determination of exemptions Determination of exemptions Unchanged Unchanged Unchanged New Unchanged New Unchanged New Modified New Modified New Modified 1 2 3 5 7 9 11 13 Tax Determination Personal and addiction Exemptions An Overivew of place Transactions 14 15 Question/ Problem 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Topic Qualifying child eligible parties Multiple take for agreement Determination of exemptions Definition of a answer relative Exceptions to the kiddie tax Filing status for years after spouses death Widows filing status Filing status in selected situations Abandoned spouse filing status Filing status of nonqualifying delinquent spouse neediness on busines s and personalised additions Taxation of different classes of capital gains Taxation of different classes of capital gains metropolis freeing limitation Netting of different-term losses and differentterm gains MATCHING 1-12 13-24 25-36 Characteristics of tax determination personal and addiction exemptions, tax judge, filing status Characteristics of tax determination personal and colony exemptions, tax rates, filing status Dependency exemption categories qualifying child and qualifying relative PROBLEMS 1 2 4 5 6 7 8 9 10 11 12 13 14 Determining AGI Determining AGI Determining AGI Taxable income of a dependent Taxable income of a dependent Taxable income of a dependent Determination of exemptions Determination of ratable income Determination of taxable income and filing status Determination of taxable income and filing status Computation of capital gains and losses Taxation of capital gains and losses Taxation of capital gains and losses Taxation of capital gains and losses treatment of net losses and railroad carry all over possibility Unchanged Unchanged New New Modified New Unchanged Modified New Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Determination of exemptions Definition of qualifying child Unchanged Unchanged Status Present random variable Unchanged Unchanged New New New Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged New New New 3-3 14 15 Q/P in Prior Edition 16 17 21 22 23 24 25 26 27 1-12 Unchanged 13-24 Unchanged 25-36 1 2 5 7 8 10 11 12 13 14 3-4 2009 Annual Edition/Test Bank Question/ Problem Topic ESSAY 1 2 3 4 5 6 7 8 10 11 12 13 14 Territorial versus global systems of income taxation Comp ard Treatment of scholarships for dependency exemption purposes Exceptions to the support test for dependency exemption purposes Effect of company property law on application of the clear income test to married dependents Exceptions to the gross income test for qualifying child purposes Qualifying child and tie-breaker rules Stealth tax definition of Kiddie tax exceptions to its application Filing status comparison of the tax issuings of different types Filing status situations which qualify and do non qualify for brainiac of household Filing status surviving spouse transition status Ramifications of the election to file a joint Federal income tax return with a nonresident alien Concentrating deductions from AGI and produceing the standard deduction in alternate years Correlation between multiple support agreement and deduction for medical expenses Status Present Edition Q/P in Prior Edition Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged Unchanged New Unchanged Unchanged Unchanged Unchanged New Unchanged 1 2 3 4 5 6 7 8 9 10 11 12 9 Tax Determination Personal and Dependency Exemptions An Overivew of plaza Transactions TRUE/FALSE 1. Currently, the top Federal income tax rate in put in is the highest it has ever been. autonomic nervous system F The income tax rate in effect in 1944-1945 ranged from 23% to 94%. PTS 1 reviewer p. 3-3 3-5 2.As used in the income tax formula, gross income would not include the receipt of a loan the taxpayer obtained from a bank. autonomic nervous system T Borrowing money does not result in gross income. PTS 1 ref showcase 1 3. Kim, a resident of Korea, is a citizen of the U. S. Any income Kim receives from land he owns in Korea is not opened to the U. S. income tax. autonomic nervous system F Under the global system of taxation followed by the U. S. , foreign-sourced income is subject to tax. Although Kim is not a resident, he is a citizen of the U. S. PTS 1 referee Global Tax Issues on p. 3-5. 4. An decrease in the inwardness of a taxpayers AGI after part increase the amount of medical expenses allowed as a deduction.autonomic nervous system T More medical expenses can be deducted since the 7. 5% of AGI floor will be smaller. PTS 1 reviewer warning 4 5. Because save one taxpayer is involved in both cases, the standard deduction for a surviving spouse is the same amount as that for a married person filing a separate return. autonomic nervous system F The amount of the standard deduction for a surviving spouse is the same as for married persons filing jointlyor twice that of a married person filing separately. PTS 1 referee Table 3-1 6. The additional standard deduction for eon and blindness is the same amount for single as for married taxpayers. autonomic nervous system F For 2008, equivalence $1,350 (single) with $1,050 (married).PTS 1 ref Table 3-2 3-6 2009 Annual Edition/Test Bank 7. The basic and additional standard deductions are subject to an annual adjustment for inflation. autonomic nervous system T The inflation adjustment is made annually to both the basic standard deduction and the additional standard deduction. PTS 1 REF p. 3-8 8. Tad removes his 70-year-old render as a dependent. The mother may not claim an additional standard deduction for her shape up. autonomic n ervous system F The mother can claim the additional standard deduction for her age. PTS 1 REF deterrent example 9 9. In 2008, Sally is 72 and single. If she has itemized deductions of $6,000, she should claim the standard deduction alternative.ANS T The standard deduction yields $6,800 ($5,450 + $1,350). PTS 1 REF Example 6 10. Leslie and Morgan are married and file a joint return. Both are over 65 years of age and Leslie is blind. Their standard deduction for 2008 is $13,000 ($10,900 + $1,050 + $1,050). ANS F Their standard deduction is $14,050 ($10,900 + $1,050 + $1,050 + $1,050). PTS 1 REF Table 3-1 Table 3-2 11. Derek is a surviving spouse. If he has itemized deductions of $11,500 for 2008, Derek should not claim the standard deduction. ANS T The standard deduction would notwithstanding provide $10,900. PTS 1 REF p. 3-8 Table 3-1 12. Cameron and Carley are ages 70 and 69 and file a joint return. If they have itemized deductions of 13,300 for 2008, they should not claim the s tandard deduction. ANS T The standard deduction provides wholly $13,000 ($10,900 + $1,050 + $1,050). PTS 1 REF p. 3-8 Table 3-1 Table 3-2 13. Claire, age 66, claims contribute of household filing status. If she has itemized deductions of $8,500 for 2008, she should not claim the standard deduction. ANS F The standard deduction yields $9,350 ($8,000 + $1,350). PTS 1 REF p. 3-8 Table 3-1 Table 3-2 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 14. Enrique is a citizen of Honduras and a resident of the U. S. If he files a U. S. income tax return, Enrique cannot claim the standard deduction. ANS F Either U. S. itizenship or residency will suffice in order to claim the standard deduction. PTS 1 REF p. 3-9 3-7 15. Dan and Donna are husband and wife and file separate returns for the year. If Dan itemizes his deductions from AGI, Donna cannot claim the standard deduction. ANS T If Dan itemizes, Donna must(prenominal) itemize. PTS 1 REF p. 3- 9 16. Logan, an 80-year-old widower, dies on January 2, 2008. Even though he give outd for only two days, on his final income tax return for 2008, the full basic and additional standard deductions can be claimed. ANS T No proration of the standard deduction is unavoidable in this case. PTS 1 REF p. 3-9 17. Benjamin, age 16, is claimed as a dependent by his parents.During 2008, he earned $700 at a car wash. Benjamins standard deduction is $1,200 ($900 + $300). ANS F His standard deduction is the great of $900 or $1,000 ($700 + $300). PTS 1 REF Example 10 18. Debby, age 18, is claimed as a dependent by her mother. During 2008, she earned $1,100 in post income on a conservations account. Debbys standard deduction is $1,400 ($1,000 + $300). ANS F Debbys standard deduction is the minimum allowed of $900. PTS 1 REF Example 8 19. Katrina, age 16, is claimed as a dependent by her parents. During 2008, she earned $5,200 as a checker at a grocery store. Her standard deduction is $5,500 ( $5,200 earned income + $300).ANS F Her standard deduction cannot exceed the regular standard deduction operational to single persons (or $5,450 for 2008). PTS 1 REF Example 11 3-8 20. 2009 Annual Edition/Test Bank A dependent cannot claim a personal exemption on his or her own return. ANS T PTS 1 REF Example 12 21. When separate income tax returns are filed by married taxpayers, one spouse cannot claim the other spouse as an exemption. ANS F An exemption is allowed if the spouse has no gross income and is not claimed as a dependent by another. PTS 1 REF p. 3-11 22. Butch and Minerva are dissociated in declination of 2008. Since they were not married at the end of the year, they are considered not married for 2008.ANS T They must be married at the end of the year (unless one spouse dies) in order to be considered married. PTS 1 REF Table 3-3 23. For the year a spouse dies, the surviving spouse is considered married for the entire year for income tax purposes. ANS T PTS 1 REF Table 3-3 24. In determining whether the support test is met for dependency exemption purposes, only the taxable portion of a scholarship is considered. ANS F In applying the support test, all of the scholarship is disregarded. Scholarships are treated differently for purposes of the gross income test. PTS 1 REF Example 23 25. Scott buys his mother a sewing machine. For purposes of equaliseing the support test, Scott can count the cost of the sewing machine.ANS T Capital expenditures can be considered in determining support. It is assumed that the sewing machine is largely for the mothers use. PTS 1 REF Example 26 26. If the individual does not top funds that have been have from another source (e. g. , affectionate Security benefits), the unexpended amounts are not considered for purposes of the support test. ANS T The funds are counted only if used for support purposes. PTS 1 REF Example 24 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 3-9 27. Using borrowed funds from a mortgage on her stem, Lisa provides 55% of her support, darn her girls furnished the rest.Lisa cannot be claimed as a dependent under a multiple support agreement. ANS T The daughters do not provide more than half of their mothers support. In this situation, the mother is self-supporting. PTS 1 REF Example 25 28. Roy and Linda were divorced in 2007. The divorce decree awards custody of their children to Linda tho is silent as to who is authorise to claim them as dependents. If Roy furnished more than half of their support, he can claim them as dependents. ANS F Not unless Linda consents. PTS 1 REF p. 3-17 29. In 2008, Hal furnishes more than half of the support of his ex-wife and her father, neither of whom have it aways with him. The divorce occurred in 2007.Hal may claim the father-in-law but not the ex-wife as dependents. ANS T The father-in-law meets the blood test, but the ex-wife does not. However, except in the year of divorce, an ex-wi fe can be a dependent under the extremity of the household test. PTS 1 REF p. 3-14 30. After her divorce, Hope continues to support her ex-husbands sister, Cindy, who does not lodge with her. Hope cannot claim Cindy as a dependent. ANS F For purposes of the relationship test, divorce does not change in-law status. PTS 1 REF p. 3-14 31. Darren, age 20 and not disabled, earns $4,500 during 2008. Darrens parents cannot claim him as a dependent unless he is a full-time scholar.ANS T Being age 20, Darren cannot be a qualifying child unless he is a full-time student. As a qualifying child, he is exempt from the gross income test. PTS 1 REF p. 3-12 32. Keith, age 17 and single, earns $3,800 during 2008. Keiths parents can claim him as a dependent even if he does not live with them. ANS F Keith does not meet the definition of a qualifying child so the gross income test does apply. PTS 1 REF p. 3-12 p. 3-14 3-10 2009 Annual Edition/Test Bank 33. Sarah furnishes more than 50% of the supp ort of her son and daughter-in-law who live with her. If the son and daughter-in-law file a joint return, Sarah cannot claim them as dependents. ANS F If legitimate conditions are satisfied (e. g. they did not have to file but did so to obtain a refund), the son and daughter-in-law can qualify as Sarahs dependents. PTS 1 REF Example 28 34. Hernando, a resident of California, supports his parents who are residents of Mexico but citizens of El Salvador. Hernando can claim his parents as dependents. ANS T The parents are residents of Mexico. PTS 1 REF p. 3-17 35. Carol lives in Michigan and supports her nephew who is a Canadian citizen that resides in Ontario, Canada. Carol may not claim her nephew as a dependent. ANS F As a resident of Canada, Carols nephew meets the citizenship or residence test. PTS 1 REF p. 3-17 36. Stealth taxes are directed at higher income taxpayers.ANS T Such theft taxes as the phaseout of exemptions do not begin until taxpayers reach significant income level s. PTS 1 REF Tax in the News on p. 3-20 37. The phaseout of the benefits of personal and dependency exemptions for certain taxpayers is scheduled to be eliminated. ANS T But the rescission is not completed until 2010. PTS 1 REF p. 3-18 38. The kiddie tax does not apply as to a child whose earned income is more than one-half of his or her support. ANS T PTS 1 REF p. 3-23 39. Once a child reaches age 19, the kiddie tax no longer applies. ANS F The kiddie tax does apply if the child is a full-time student under age 24. PTS 1 REF p. -23 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 3-11 40. When the kiddie tax applies and the parents file separate returns, the applicable parent (for determining the parental tax) is the one with the greater taxable income. ANS T PTS 1 REF p. 3-25 41. When the kiddie tax applies, the child need not file an income tax return as the childs income will be reported on the parents return. ANS F The child need not fil e only if the parental election (if available) picks up all of the childs income. PTS 1 REF p. 3-24 42. A child who has unearned income of $1,800 or less cannot be subject to the kiddie tax. ANS T PTS 1 REF p. 3-23 43. A child who is married cannot be subject to the kiddie tax.ANS F tho if he or she files a joint return is such child exempt from the kiddie tax. PTS 1 REF p. 3-23 44. An individual taxpayer uses a fiscal year February 1-January 31. The imputable date of this taxpayers Federal income tax return is June 15 of each tax year. ANS F The tax return is due on or before the fifteenth day of the fourth month following the end of the fiscal year. Here, the due date is May 15. PTS 1 REF p. 3-27 45. Surviving spouse filing status begins in the year in which the deceased spouse died. ANS F Surviving spouse filing status begins in the year following the year of death. PTS 1 REF Example 38 46. In January 2008, Jakes wife dies and he does not remarry.For tax year 2008, Jake may not be able to use the filing status available to married persons filing joint returns. ANS T If the executor of his wifes e acres does not agree to filing a joint return, Jakes only option is to file using married, filing separate status. PTS 1 REF p. 3-30 3-12 2009 Annual Edition/Test Bank 47. For tax purposes, married persons filing separate returns are treated the same as single taxpayers. ANS F Single taxpayers can enjoy some(prenominal) tax benefits that are unavailable to married persons filing separatelye. g. , earned income credit, credit for child and dependent care expenses, deduction for occupy paid on student loans. PTS 1 REF p. 3-29 p. 3-30 48.Katelyn is divorced and maintains a household in which she and her daughter, Crissa, live. Crissa, age 22, earns $11,000 during 2008 as a model. Katelyn qualifies for genius of household filing status. ANS F Crissa is not Katelyns dependent. She fails the age test for qualifying child purposes and the gross income test for the q ualifying relative category. PTS 1 REF Example 41 49. Mike is divorced and maintains a family unit in which he and his dependent niece live. Mike qualifies for head of household filing status. ANS T To be head of household, the dependent involved must meet the relationship test. Such is the case with a niece. PTS 1 REF Example 39 50.In terms of income tax consequences, abandoned spouses are treated the same way as married persons filing separate returns. ANS F An abandoned spouse is treated as a single taxpayer. Consequently, an abandoned spouse qualifies for head of household filing status. PTS 1 REF p. 3-31 51. In 2008, Gordon interchange his personal use automobile for a loss of $6,000. He also sold a personal stamp collection for a gain of $7,000. As a result of these deals, $7,000 is subject to income tax. ANS T Gordon must recognize a capital gain of $7,000. The $6,000 loss on the change of the personal use automobile is nondeductible. PTS 1 REF Example 43 52. In some case s, the tax on long-term capital gains can be as low as 0%.ANS T If the taxpayers tax square bracket is 15% (or less), the 0% rate applies. PTS 1 REF Example 46 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 3-13 53. Gain on the exchange of collectibles held for more than 12 months is subject to tax at a rate no higher than 28%. ANS T PTS 1 REF p. 3-33 54. For 2008, Stuart has a short-term capital loss, a collectible long-term capital gain, and a longterm capital gain from land held as investment. The short-term loss is first applied to the collectible capital gain. ANS T PTS 1 REF Example 48 MULTIPLE CHOICE 1. Which, if any, of the following is a deduction from AGI? a. Alimony payments. b. Child support payments. c.Unreimbursed employee expenses. d. Loss on the sale of a personal automobile. e. none of the above. ANS C Alimony payments (choice a. ) are deductions for AGI. Child support payments (choice b. ) and personal capital losses (cho ice d. ) are nondeductible items. PTS 1 REF Example 2 Example 43 deliver 3-3 2. Which, if any, of the following is a deduction for AGI? a. Alimony payments. b. Interest on home mortgage. c. Unreimbursed employee expenses. d. Charitable contributions. e. None of the above. ANS A Except for alimony (choice a. ), all other items (choices b. , c. , and d. ) are deductions from AGI. PTS 1 REF p. 3-6 Exhibit 3-3 3.During 2008, Marie had the following transactions hire Bank loan (proceeds used to buy personal auto) Alimony received Child support received Inheritance from deceased aunt $40,000 10,000 6,000 12,000 50,000 3-14 Maries AGI is a. $40,000. b. $46,000. c. $52,000. d. $96,000. e. None of the above. 2009 Annual Edition/Test Bank ANS B $40,000 (salary) + $6,000 (alimony) = $46,000. The inheritance and child support are exclusions. Amounts borrowed are not income. PTS 1 REF Example 1 Exhibit 3-1 4. During 2008, Sam had the following transactions profits Interest income on Gener al Electric mass bonds Gift from parents Contribution to traditional IRA draught winnings Sams AGI is a. $59,000. b. $61,000. c. $65,000. d. $85,000. e. None of the above.ANS E $60,000 (salary) + $2,000 ( lodge in on GE bonds) $5,000 (IRA contribution) + $3,000 (lottery winnings) = $60,000. The gift from his parents is a nontaxable exclusion. PTS 1 REF p. 3-5 Exhibit 3-1 Exhibit 3-2 $60,000 2,000 24,000 5,000 3,000 5. During 2008, Colin had the following transactions hire Interest income on City of Denver bonds Damages for personal injury (car accident) Punitive damages (same car accident) Cash dividends from General Motors Corporation trite Colins AGI is a. $74,000. b. $120,500. c. $124,000. d. $124,500. e. $224,000. ANS C $70,000 (salary) + $50,000 (punitive damages) + $4,000 (cash dividends) = $124,000. The damages from personal injury and the municipal bond interest are nontaxable exclusions.PTS 1 REF Example 2 Exhibit 3-1 Exhibit 3-2 $ 70,000 500 100,000 50,000 4,000 Ta x Determination Personal and Dependency Exemptions An Overivew of Property Transactions 6. In 2008, Walter had the following transactions Salary Capital loss from a stock investment Moving expense to change jobs Received repayment of $10,000 loan he made to his blood brother in 2004 (includes interest of $1,000) Property taxes on personal residence Walters AGI is a. $67,000. b. $68,000. c. $69,000. d. $78,000. e. None of the above. $80,000 (4,000) (10,000) 11,000 2,000 3-15 ANS B $80,000 (salary) $3,000 (allowable loss on stock investment) $10,000 (moving expenses) + $1,000 (interest on loan) = $68,000.The unused loss of $1,000 from the stock investment sale can be carried over to 2009. The loan repayment of $10,000 is a return of capital and has no effect on gross income. Property taxes paid on a personal residence is a deduction from AGI and has no impact on the determination of AGI. PTS 1 REF p. 3-5 p. 3-34 Exhibit 3-3 7. Monica, age 18, is claimed by her parents as a dependen t. During 2008, she had interest income from a bank savings account of $1,000 and income from a part-time job of $4,500. Monicas taxable income is a. $4,500 $4,800 = $0. b. $5,500 $5,350 = $150. c. $5,500 $4,800 = $700. d. $5,500 $900 $3,400 = $1,200. e. None of the above.ANS C Monicas standard deduction is $4,500 (earned income) + $300 = $4,800. Thus, her taxable income is $700 ($5,500 $4,800). She is not eligible for a personal exemption. PTS 1 REF Example 10 8. Tony, age 15, is claimed as a dependent by his grandmother. During 2008, Tony had interest income from General Motors Corporation bonds of $1,000 and earnings from a part-time job of $700. Tonys taxable income is a. $0. b. $1,700 $700 $900 = $100. c. $1,700 $1,000 = $700. d. $1,700 $900 = $800. e. None of the above. ANS C Tonys standard deduction of $1,000 ($700 + $300) partially offsets his gross income of $1,700, resulting in taxable income of $700. PTS 1 REF Example 10 3-16 2009 Annual Edition/Test Bank 9.Anna is a wido w, age 74 and blind, who is claimed as a dependent by her son. During 2008, she received $4,800 in Social Security benefits, $1,200 in bank interest, and $1,800 in cash dividends from stocks. Annas taxable income for 2008 is a. $3,000 $900 $2,700 = $0. b. $3,000 $2,600 = $400. c. $3,000 $900 $1,350 = $750. d. $7,800 $900 $2,700 = $4,200. e. None of the above. ANS A Although Anna has no earned income, she is entitled to a minimum regular standard deduction of $900. She also is allowed additional standard deductions for age and blindness of $2,700 ($1,350 + $1,350). At this level of income, the Social Security benefits are a nontaxable exclusion.PTS 1 REF Example 9 Exhibit 3-1 Table 3-2 10. Grace, age 67 and single, is claimed as a dependent on her sons tax return. During 2008, she had interest income of $2,400 and $700 of earned income from baby sitting. Graces taxable income is a. $150. b. $750. c. $850. d. $2,100. e. None of the above. ANS B $3,100 gross income greater of $900 or ($700 earned income + $300) $1,350 (additional standard deduction for age 65 and older) = $750. She is not eligible for a personal exemption. PTS 1 REF Example 9 11. Troy and Edie are married and under 65 years of age. During 2008, they furnish more than half of the support of their 18-year old daughter, Jobeth, who lives with them.Jobeth earns $15,000 from a part-time job, most of which she sets aside for future college expenses. Troy and Edie also provide more than half of the support of Troys full cousin-german who does not live with them. Edies father, who died on January 3, 2008, at age 80, has for some(prenominal) years qualified as their dependent. How many personal and dependency exemptions should Troy and Edie claim? a. Two. b. Three. c. Four. d. Five. e. None of the above. ANS C Four (Troy, Edie, Jobeth, and the father). Jobeth can be claimed because as a qualifying child she is not subject to the gross income test. Troys cousin does not meet the relationship test and i s not a fellow piece of their household.It is assumed that Edies father, as was true in the past, qualified as a dependent up to the eyeshade of death. PTS 1 REF p. 3-11 p. 3-12 p. 3-14 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 3-17 12. Evan and Eileen Carter are husband and wife and file a joint return for 2008. Both are under 65 years of age. They provide more than half of the support of their daughter, Pamela (age 25), who is a full-time medical student. Pamela receives a $3,400 scholarship covering her room and board at college. They furnish all of the support of Belinda (Evans grandmother), who is age 70 and lives in a nursing home.They also support Peggy (age 66), who is a lifter of the family and lives with them. How many personal and dependency exemptions may the Carters claim? a. Two. b. Three. c. Four. d. Five. e. None of the above. ANS D Five (Evan, Eileen, Pamela, Belinda, and Peggy). Personal exemptions for the Cart ers and dependency exemptions for the rest. Pamela is not a qualifying childalthough a full-time student, she is not under age 24. Pamela does meet the qualifying relative category even though the type of scholarship aid she receives is taxable (the gross income test is satisfied). Belinda is not a member of the household but satisfies the relationship test.Peggy does not adjoin the relationship test but is a member of the household. PTS 1 REF p. 3-11 p. 3-12 p. 3-14 13. In which, if any, of the following situations may the individual not be claimed as a dependent of the taxpayer? a. A former spouse who lives with the taxpayer (divorce took place this year). b. A stepmother who does not live with the taxpayer. c. A married daughter who lives with the taxpayer. d. A half brother who does not live with the taxpayer and is a citizen and resident of Canada. e. A cousin who lives with the taxpayer. ANS A In the year of divorce, a former spouse cannot qualify under the member of the ho usehold test (choice a. ). The stepmother meets the relationship test (choice b. ).A married daughter can be claimed as long as she does not violate the joint return test (choice c. ). In the case of the half brother, Canada or Mexico can satisfy the residency test (choice d. ). A cousin does not satisfy the relationship test so must be a member of the household (choice e. ). PTS 1 REF p. 3-14 p. 3-17 3-18 2009 Annual Edition/Test Bank 14. During 2008, Jen (age 66) furnished more than 50% of the support of the following persons Jens current husband who has no income and is not claimed by someone else as a dependent. Jens stepson (age 18) who lives with her and earns $6,000 as a dance instructor. He dropped out of school a year ago.Jens ex-husband who does not live with her. The divorce occurred two years ago. Jens former brother-in-law who does not live with her. Presuming all other dependency tests are met, on a separate return how many personal and dependency exemptions may Jen c laim? a. Two. b. Three. c. Four. d. Five. e. None of the above. ANS C All of the persons listed except the ex-husband meet either the relationship or member of the household tests. The current husband qualifies as he has no income and is not claimed as a dependent by someone else. The stepson avoids the gross income limitation since he is a qualifying child under 19 years of age. PTS 1 REF p. 3-11 p. 3-12 p. 3-14 15.A qualifying child cannot include a. A nonresident alien. b. A married son who files a joint return. c. An uncle. d. A daughter who is away at college. e. A brother who is 28 years of age and disabled. ANS C A qualifying child can be a nonresident alien under the adopted child exception (choice a. ). The filing of a joint return is not fatal if filing is not required and its purpose is to obtain a tax refund (choice b. ). An uncle does not meet the relationship test (choice c. ). A temporary absence is permissible under the domicile test (choice d. ). A brother meets t he relationship test, and disability waives the age test (choice e. ). PTS 1 REF p. 3-12 p. 3-17 16.Ellen, age 12, lives in the same household with her father, grandfather, and uncle. The cost of maintaining the household is provided by her grandfather (40%) and her uncle (60%). Disregarding tie-breaker rules, Ellen is a qualifying child as to a. All parties involved (i. e. , father, grandfather, and uncle). b. Only her grandfather and uncle. c. Only her uncle. d. Only her father. e. None of the above. ANS A Under the abode and relationship tests, Ellen is a qualifying child as to all parties. The amount of support provided by each person is not relevant. PTS 1 REF p. 3-12 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 17.Millie, age 80, is back up during the current year as follows Weston (a son) Faith (a daughter) Jake (a cousin) Brayden (un colligate close family friend) Percent of Support 10% 35% 35% 20% 3-19 During the year, Millie l ives with Brayden. Under a multiple support agreement, indicate which parties can qualify to claim Millie as a dependent. a. Weston, Faith, Jake, and Brayden. b. Faith and Brayden. c. Weston and Faith. d. Faith, Jake, and Brayden. e. None of the above. ANS B Weston does not qualify because he does not channel more than 10% of the support. (This eliminates choices a. and c. ) Jake does not qualify because he satisfies neither the relationship nor member of the household tests. (This eliminates choices a. and d. Brayden does not meet the relationship test, but he does satisfy the member of the household test. PTS 1 REF Example 27 18. The Hutters filed a joint return for 2008. They provide more than 50% of the support of Carla, Melvin, and Aaron. Carla (age 18) is a cousin and earns $4,000 from a part-time job. Melvin (age 25) is their son and is a full-time law student. He received from the university a $3,800 scholarship for tuition. Aaron is a brother who is a citizen of Israel but resides in Mexico. Carla and Melvin live with the Hutters. How many personal and dependency exemptions can the Hutters claim on their Federal income tax return? a. Two. b. Three. c.Four. d. Five. e. None of the above. ANS C The Hutters can claim two personal exemptions and two dependency exemptions. Carla is not a qualifying child and is subject to the gross income test. Melvin is not a qualifying child due to age (not under 24) but is a qualifying relative. meets Melvin the gross income test since this type of scholarship is nontaxable. Aaron meets the residency requirement. PTS 1 REF p. 3-11 p. 3-12 p. 3-17 Example 19 Example 21 3-20 2009 Annual Edition/Test Bank 19. For the qualifying relative rule (for dependency exemption purposes) a. The dependent must be under age 19 or a full-time student under age 24. b.The dependent must reside with the taxpayer claiming the exemption. c. The dependent need not be related to the taxpayer claiming the exemption. d. The dependent must b e a citizen or resident of the U. S. e. None of the above. ANS C Choices a. and b. relate to the qualifying child rules. An unrelated person can qualify if a member of taxpayers household (choice c. ). A dependent can be a citizen or resident of Canada or Mexico (choice d. ). PTS 1 REF innovation Summary 3-1 20. For tax year 2008, an exception to the kiddie tax rules includes a. A child who is a full-time student. b. A child who is married and files a joint return. c. A child who is 18 years old. d.A child whose unearned income is more than half of his or her support. e. None of the above. ANS B Student status (choice a. ) is relevant only to include, in the application of the tax, those at least 19 but under age 24. Choice c. relates to pre-2008 rules. Choice d. would be an exception if the reference was to earned income (not unearned income). PTS 1 REF p. 3-23 21. Kyle, whose wife died in December 2005, filed a joint tax return for 2005. He did not remarry, but has continued to m aintain his home in which his two dependent children live. What is Kyles filing status as to 2008? a. Head of household. b. Surviving spouse. c. Single. d. Married filing separately. e.None of the above. ANS A Kyle, who filed a joint return in 2005, was entitled to file as a surviving spouse in 2006 and 2007. In 2008, he will be entitled to file as a head of household. PTS 1 REF Example 38 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 3-21 22. Emily, whose husband died in December 2008, maintains a household in which her dependent daughter lives. Which (if any) of the following is her filing status for the tax year 2008? (Note Emily is the executor of her husbands estate. ) a. Single. b. Married, filing separately. c. Surviving spouse. d. Head of household. e. Married, filing jointly.ANS E As the executor, it is unlikely that she would refuse to consent to a joint return. Since she is deemed married in the year of her husbands death, she c annot file as single (choice a. ) or head of household (choice d. ). She does not qualify for surviving spouse status until the next year (i. e. , 2009). PTS 1 REF p. 3-30 23. Which of the following taxpayers may file as a head of household in 2008? Ron provides all the support for his mother, Betty, who lives by herself in an apartment in Fort Lauderdale. Ron pays the rent and other expenses for the apartment and properly claims his mother as a dependent. Tammy provides over one-half the support for her 18-year old brother, Dan.Dan earned $4,200 in 2008 working at a fast food restaurant and is saving his money to attend college in 2009. Dan lives in Tammys home. Joes wife left him late in December of 2007. No legal action was taken and Joe has not hear from her in 2008. Joe supported his 6-year-old son, who lived with him throughout 2008. a. Ron only. b. Tammy only. c. Joe only. d. Ron and Joe only. e. Ron, Tammy, and Joe. ANS E Ron may file as a head of household. His mother is no t required to live in his household in order for him to qualify as a head of household. Tammy can claim Dan as a dependent because Dan is a qualifying child and is not subject to the gross income requirement.Joe can file as a head of household under the abandoned spouse rules. PTS 1 REF p. 3-30 p. 3-31 3-22 2009 Annual Edition/Test Bank 24. Wilma is married to Herb, who abandoned her in 2006. She has not seen or communicated with him since June of that year. She maintains a household in which she and her two dependent children live. Which of the following statements about Wilmas filing status in 2008 is correct? a. Wilma can use the rates for single taxpayers. b. Wilma can file a joint return with Herb. c. Wilma can file as a surviving spouse. d. Wilma can file as a head of household. e. None of the above statements is appropriate. ANS D Wilma meets the abandoned spouse rules.Therefore, she can file as a head of household. Otherwise, her filing status would be married, filing separ ately. PTS 1 REF p. 3-31 25. Arnold is married to Sybil, who abandoned him in 2006. He has not seen or communicated with her since April of that year. He maintains a household in which their son, Evans, lives. Evans is age 25 and earns over $20,000 each year. For tax year 2008, Arnolds filing status is a. Married, filing jointly. b. Married, filing separately. c. Head of household. d. Surviving spouse. e. Single. ANS B Arnold cannot file jointly without Sybils consent (choice a. ). He is not an abandoned spouse since Evans is not a dependent child.Evans cannot be claimed as a qualifying child (age test) and is not a qualifying relative (gross income test). Because Arnold is still treated as being married, his only option is married, filing separately (choice b. ). PTS 1 REF p. 3-29 to 3-32 26. During the year, Kim sold the following assets business auto for a $1,000 loss, stock investment for a $1,000 loss, and pleasure yacht for a $1,000 loss. Presuming adequate income, how much o f these losses may Kim claim? a. $0. b. $1,000. c. $2,000. d. $3,000. e. None of the above. ANS C The loss on the business auto of $1,000 is an unexceptional loss, patch the loss on the stock investment of $1,000 is a capital loss. The loss on the yacht of $1,000 is personal and, therefore, cannot be deducted.PTS 1 REF p. 3-33 Example 43 Example 44 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 27. Perry is in the 33% tax bracket. During 2008, he had the following capital asset transactions Gain from the sale of a stamp collection (held for 10 years) Gain from the sale of an investment in land (held for 4 years) Gain from the sale of stock investment (held for 8 months) Perrys tax consequences from these gains are as follows a. (15% $10,000) + (28% $30,000) + (33% $4,000). b. (15% $30,000) + (33% $4,000). c. (5% $10,000) + (28% $30,000) + (33% $4,000). d. (15% $40,000) + (33% $4,000). e. None of the above. 30,000 10,000 4,000 3-23 ANS A Collectibles are taxed at a maximum of 28%, while long-term capital gains are subject to a top rate of 15%. Short-term capital gains are treated the same as ordinary income. PTS 1 REF p. 3-33 28. Kirby is in the 15% tax bracket and had the following capital asset transactions during 2008 long gain from the sale of a shine collection Long-term gain from the sale of a land investment Short-term gain from the sale of a stock investment Kirbys tax consequences from these gains are as follows a. (5% $10,000) + (15% $13,000). b. (0% $10,000) + (15% $13,000). c. (15% $13,000) + (28% $11,000). d. (15% $23,000). . None of the above. ANS B Collectibles and short-term capital gains are taxed at Joans regular 15% tax bracket, while longterm capital gains are subject to a rate of 0% (5% prior to 2008). PTS 1 REF p. 3-33 $11,000 10,000 2,000 29. For the current year, David has salary income of $80,000 and the following property transactions Stock investment sales Long-term capital gain Short-t erm capital loss Loss on sale of camper (purchased 4 years ago and used for family vacations) $ 9,000 (11,000) (2,000) 3-24 2009 Annual Edition/Test Bank What is Davids AGI for the current year? a. $76,000. b. $77,000. c. $78,000. d. $89,000. e. None of the above.ANS C The loss from the sale of the camper is personal and, therefore, is not deductible. Netting the short-term capital loss of $11,000 against the long-term capital gain of $9,000 produces a net short-term capital loss of $2,000. Offsetting the capital loss against ordinary income yields AGI of $78,000 ($80,000 $2,000). PTS 1 REF Example 43 Example 49 30. During 2008, Trevor has the following capital transactions LTCG Long-term collectible gain STCG STCL $ 6,000 2,000 4,000 10,000 After the netting process, the following results a. Long-term collectible gain of $2,000. b. LTCG of $6,000, Long-term collectible gain of $2,000, and a STCL of $6,000. c.LTCG of $6,000, Long-term collectible gain of $2,000, and a STCL carryove r to 2009 of $3,000. d. LTCG of $2,000. e. None of the above. ANS D First, the STCG and STCL are combined, resulting in a STCL of $6,000. Of this STCL, $2,000 is applied against the collectible gain of $2,000, and the $4,000 balance is applied against the LTCG of $6,000. The result is a LTCG of $2,000. PTS 1 MATCHING Match the statements that relate to each other. Note Choice L may be used more than once. a. Not available to 65-year old taxpayer who itemizes b. Exception for U. S. citizenship or residency test (for dependency exemption purposes) c. Largest basic standard deduction available to a dependent who has no earned income d.Not considered for dependency exemption purposes e. Qualifies for head of household filing status f. A child (age 15) who is a dependent and has only earned income. g. Not considered in applying support test (for dependency exemption purposes) h. Phaseout of personal and dependency exemptions i. Unmarried taxpayer who can use the same tax rates as married persons filing jointly j. Exception to the support test (for dependency exemption purposes) k. A child (age 16) who is a dependent and has net unearned income l. No correct match provided REF Example 48 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12.Abandoned spouse Stealth tax Additional standard deduction Scholarship funds Surviving spouse Marriage penalty Canada and Mexico Age of a qualifying relative $900 Kiddie tax applies Kiddie tax does not apply Multiple support agreement 3-25 1. ANS E PTS 1 REF p. 3-31 NOT An abandoned spouse qualifies for head of household filing status. 2. ANS H PTS 1 REF p. 3-20 NOT An example of a stealth tax is the phaseout of exemptions. Tax in the News on p. 3-20 3. ANS A PTS 1 REF p. 3-8 NOT A taxpayer who itemizes (claims deductions from AGI) is not eligible for either the basic or additional standard deductions. 4. ANS G PTS 1 REF p. 3-14 p. -15 NOT Scholarship fund s are not considered when applying the support test. The taxable portion of scholarships are taken into account in applying the gross income test. 5. ANS I PTS 1 REF p. 3-30 6. ANS L PTS 1 REF p. 3-29 NOT The traditional marriage penalty applied in some cases where married persons filed a joint return. 7. ANS B PTS 1 REF p. 3-17 NOT Citizenship or residency in these countries will suffice. 8. ANS D PTS 1 REF p. 3-19 9. ANS C PTS 1 REF p. 3-10 NOT This amount could be greater if earned income exists. 10. ANS K PTS 1 REF p. 3-25 11. ANS F PTS 1 REF p. 3-23 NOT The kiddie tax is inapplicable in situations where the child has no unearned income. 12. ANS J PTS 1 REF p. -15 Match the statements that relate to each other. Note Choice L may be used more than once. a. Available to a 70-year-old father claimed as a dependent by his son b. The highest income tax rate applicable to a taxpayer c. Equal to tax liability divided by taxable income d. Not eligible for the standard deduction e. No on e qualified taxpayer meets the support test f. Taxpayers cousin does not qualify g. A dependent child (age 17) who has only unearned income h. Highest applicable rate is 35% i. Applicable rate could be as low as 0% j. Maximum rate is 28% k. Income from foreign sources not subject to tax l. No correct match provided 3-26 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 009 Annual Edition/Test Bank Multiple support agreement Kiddie tax not imposed Nonresident alien Tax Rate Schedule Gain on collectibles (held more than one year) Marginal income tax rate Average income tax rate Additional standard deduction Relationship test (for dependency exemption purposes) Long-term capital gains Global system of taxation Territorial system of taxation 13. ANS E PTS 1 REF p. 3-15 NOT A qualified taxpayer is one who satisfies the more-than-10% contribution test and meets all of the other requirements for claiming a dependency exemption. 14. ANS L PTS 1 REF p. 3-23 NOT The kiddie tax can apply when th e child has unearned income. 15. ANS D PTS 1 REF p. 3-9 16. ANS H PTS 1 REF p. 3-21 17. ANS J PTS 1 REF p. 3-33 18. ANS B PTS 1 REF p. 3-21 19. ANS C PTS 1 REF p. 3-21 20.ANS A PTS 1 REF Example 9 21. ANS F PTS 1 REF p. 3-14 NOT A cousin can qualify as a dependent under the member of the household test but not under the relationship test. 22. ANS I PTS 1 REF Example 46 23. ANS L PTS 1 REF p. 3-5 NOT Global Tax Issues on p. 3-5 24. ANS K PTS 1 REF p. 3-5 NOT Global Tax Issues on p. 3-5 Regarding dependency exemptions, furcate each statement in one of the four categories a. Could be a qualifying child. b. Could be a qualifying relative. c. Could be either a qualifying child or a qualifying relative. d. Could be neither a qualifying child nor a qualifying relative. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36.A son lives with taxpayer and is self-supporting A daughter who does not live with taxpayer A granddaughter, who lives with taxpayer, is 24 years old, and a full-time student A n uncle who lives with taxpayer A nephew who lives with taxpayer A niece who does not live with taxpayer A half brother who lives with taxpayer A cousin who does not live with taxpayer A step daughter who lives with taxpayer A daughter-in-law who does not live with taxpayer A family friend who is supported by and lives with taxpayer An ex-husband (divorce occurred two years ago) who lives with taxpayer Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. ANS ANS ANS ANS ANS ANS ANS ANS ANS ANS ANS ANS D B B B C B C D C B B B PTS PTS PTS PTS PTS PTS PTS PTS PTS PTS PTS PTS 1 1 1 1 1 1 1 1 1 1 1 1 REF REF REF REF REF REF REF REF REF REF REF REF p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 p. 3-11 to 3-15 3-27 PROBLEM 1.Eva had the following transactions during 2008 Salary Interest income on bonds Issued by City of Baltimore Issued by Dell Corporation Alimony received Child support received City and state income taxes paid Bank loan obtained to pay credit card debt What is Evas AGI for 2008? ANS $86,000. $80,000 (salary) + $3,000 (interest on Dell Corporation bonds) + $3,000 (alimony received). Interest on the City of Baltimore bonds and the child support payments are exclusions from gross income. The bank loan has no tax effect, as Eva is obligated to repay the amount borrowed. City and state income taxes are deductions from AGI. PTS 1 REF Example 1 Example 2 Exhibit 3-1 to 3-3 $80,000 $2,000 3,000 5,000 3,000 9,000 4,000 10,000 3-28 2009 Annual Edition/Test Bank 2.Scott had the following transactions for 2008 Salary Alimony paid Recovery from car accident Personal injury damages Punitive damages Gift from parents Property sales Loss on sale of sailboat (used for pleasure and possess 4 years) Gain on sale of GMC stock (held for 8 months as an inve stment) What is Scotts AGI for 2008? ANS $164,000. $90,000 (salary) $6,000 (alimony paid) + $75,000 (punitive damage award) + $5,000 (short-term capital gain on the sale of stock investment). The personal injury recovery and the gift from Scotts parents are exclusions from gross income. The loss from the sale of the sailboat is personal and, therefore, nondeductible. The short-term capital gain on the sale of the GMC stock is taxed in full as ordinary income. PTS 1 REF p. 3-6 p. 3-33 Exhibit 3-1 Exhibit 3-2 Example 43 $ 90,000 6,000 $50,000 75,000 125,000 24,000 ($ 3,000) 5,000 2,000 3.Kristen had the following transactions for 2008 Salary Moving expenses incurred to change jobs Inheritance received from deceased uncle Life insurance proceeds from policy on uncles life (Kristen was named the beneficiary) Cash prize from church raffle Payment of state income tax What is Kristens AGI for 2008? ANS $76,000. $80,000 (salary) + $5,000 (raffle prize) $9,000 (moving expenses). The inhe ritance and life insurance proceeds are exclusions from gross income. The payment by Kristen of her state income tax is a deduction from AGI. Thus, it does not enter into the determination of AGI. PTS 1 REF p. 3-5 Exhibits 3-1 to 3-3 $ 80,000 9,000 400,000 100,000 5,000 4,000 4. Warren, age 17, is claimed as a dependent by his father. In 2008, Warren has dividend income of $1,500 and earns $400 from a part-time job. . b. What is Warrens taxable income for 2008? Suppose Warren earned $1,200 (not $400) from the part-time job. What is Warrens taxable income for 2008? Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 3-29 ANS a. $1,000. Warrens standard deduction is the greater of $400 (earned income) + $300 or $900. Thus, $1,500 + $400 $900 = $1,000 taxable income. b. $1,200. Warrens standard deduction now becomes $1,500 ($1,200 + $300). Thus, $1,500 + $1,200 $1,500 = $1,200 taxable income. REF Example 8 Example 10 PTS 1 5. Allison, age 22, is a full-time law student and is claimed by her parents as a dependent.During 2008, she received $1,300 interest income from a bank savings account and $5,300 from a parttime job. What is Allisons taxable income for 2008? ANS $1,150. Allisons standard deduction is the greater of $5,300 (earned income) + $300 or $900. But the $5,600 is limited to $5,450 (the standard deduction allowed a single person). Thus, $1,300 + $5,300 $5,450 = $1,150 taxable income. PTS 1 REF Example 11 6. Heloise, age 74 and a widow, is claimed as a dependent by her daughter. For 2008, she had income as follows $2,500 interest on municipal bonds $3,200 Social Security benefits $3,000 income from a part-time job and $2,800 dividends on stock investments.What is Heloises taxable income for 2008? ANS $1,150. $3,000 (income from job) + $2,800 (dividends) $3,300 (basic standard deduction is $3,000 + $300) $1,350 (additional standard deduction for age) = $1,150. The Social Security benefits of $3,200 and the interest on municipal bonds of $2,500 are not taxable. PTS 1 REF Table 3-1 Example 9 7. Pablo is married to Elena, who lives with him. Both are U. S. citizens and residents of Kansas. Pablo furnishes all of the support of his parents, who are citizens of Nicaragua and residents of Mexico. He also furnishes all of the support of Elenas parents, who are citizens and residents of Nicaragua. Elena has no gross income for the year.If Pablo files as a married person filing separately, how many personal and dependency exemptions can he claim on his return? ANS Four. A personal exemption for Pablo and Elena and dependency exemptions for Pablos parents. Elena can be claimed because she has no income. Presumably she is not being claimed as a dependent by another. Although Pablos parents are neither U. S. citizens nor residents, they are residents of Mexico. Elenas parents meet neither the citizenship nor residency tests. PTS 1 REF p. 3-10 p. 3-17 3-30 2009 Annual Edition/Test Bank 8. Homer (age 68) and his wife Jean (age 70) file a joint return. They furnish all of the support of Luther (Homers 90-year old father), who lives with them.For 2008, they received $6,000 of interest income on city of Chicago bonds and interest income on corporate bonds of $48,000. Compute Homer and Jeans taxable income for 2008. ANS $24,500. Their gross income is $48,000 since the $6,000 interest on municipal bonds is an exclusion. They are entitled to a basic standard deduction of $10,900 and additional standard deductions of $1,050 each for being age 65 or older. They can claim a dependency exemption of $3,500 for Luther and two personal exemptions for themselves. Thus, $48,000 $10,900 $2,100 (2 $1,050) $10,500 (3 $3,500) = $24,500. PTS 1 REF p. 3-10 p. 3-13 Exhibit 3-1 Table 3-1 Table 3-2 9.Ellen, age 39 and single, furnishes more than 50% of the support of her parents, who do not live with her. Ellen practices as a self-employed interior decorator and has gross income in 2008 of $120,000. He r deductions are as follows $30,000 business and $7,900 itemized. a. b. What is Ellens taxable income for 2008? Can Ellen qualify for head of household filing status? Explain. ANS a. $71,500. $120,000 (gross income) $30,000 (business deductions for AGI) = $90,000 (AGI) $8,000 (standard deduction) $3,500 (personal exemption) $7,000 (dependency exemptions for parents) = $71,500 taxable income. The answer presumes that the parents meet the other dependency exemption tests (e. g. , gross income) besides support. b.Ellen can qualify for head of household filing status if she furnishes more than half of the cost of maintaining her parents household. Also, at least one of Ellens parents must qualify as her dependent (see part a. above). REF p. 3-5 p. 3-10 p. 3-13 Table 3-1 Example 42 PTS 1 10. Ashley earns a salary of $35,000, has capital gains of $4,000, and interest income of $3,000 in 2008. Her husband died in 2007. Ashley has a dependent son, Tyrone, who is age 8. Her itemized ded uctions are $8,000. a. b. Calculate Ashleys taxable income for 2008. What is her filing status? $35,000 4,000 3,000 $42,000 (10,900) (7,000) $24,100 ANS a. Salary Capital gains Interest AGI Less Standard deduction Less Personal exemption and dependency deduction ($3,500 2) Taxable income b.Ashley satisfies the requirements for a surviving spouse. PTS 1 REF p. 3-10 p. 3-30 Table 3-1 Figure 3-1 11. During the year, Keith has the following transactions Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions Loss from the sale of a business computer Loss from the sale of a personal use auto Long-term loss from the sale of land held for investment Short-term gain from the sale of a stock investment How are these transactions handled for income tax purposes? 3-31 $3,500 1,500 5,000 1,000 ANS $3,500 ordinary loss and $3,000 capital loss deduction. The $1,000 unused capital loss can be carried over to the next year.The $1,500 loss from the sale of a pers onal use auto is not allowed. PTS 1 REF Example 44 Example 49 12. During 2008, Dena has the following gains and losses LTCG LTCL STCG STCL a. b. How much is Denas tax liability if she is in the 15% tax bracket? If her tax bracket is 33% (not 15%)? $4,000 1,000 500 3,000 ANS a. $0. After the initial netting process, there is a LTCG of $3,000, and a STCL of $2,500. The $2,500 of STCL is applied to the LTCG of $3,000. The final result is a net LTCG of $500 taxed at 0% for a tax liability of $0. b. $75. See part a. for the netting process. Now the $500 is taxed at 15% for a tax liability of $75. REF Example 46 Example 47 PTS 1 13.During 2008, Marlo had the following capital gains and losses Gain from the sale of take up collection (held three years) Gain from the sale of land held as an investment for six years Gain from the sale of stock held as an investment (held for 10 months) a. b. How much is Marlos tax liability if he is in the 15% tax bracket? If his tax bracket is 33% (not 1 5%)? $5,000 4,000 1,000 ANS a. $1,100. Gain of $5,000 on the sale of the coin collection is taxed at 15% (lesser of 28% or 15%). The same is true for the short-term gain of $1,000. The gain of $4,000 on the sale of the land is taxed at 0%. Thus, (15% $6,000) + (0% $4,000) = $900. b. $2,330. (33% $1,000) + (28% $5,000) + (15% $4,000) = $2,330. PTS 1 REF p. 3-33 Example 46 Example 47 14.During 2008, Blaine has salary income of $100,000 and the following capital transactions 3-32 2009 Annual Edition/Test Bank LTCG LTCL STCL $10,000 (14,000) (3,000) How are these transactions handled for income tax purposes in 2008 and, if applicable, in future years? ANS First, netting the long-term transactions yields a net long-term capital loss of $4,000 $10,000 (gain) $14,000 (loss). Second, apply the $3,000 short-term capital loss against ordinary income. Third, carry the unused $4,000 net long-term capital loss over to 2009. PTS 1 ESSAY 1. Mr. Lee is a citizen and resident of Hong Kong, while M r. Anderson is a citizen and resident of the U. S. In the taxation of income, Hong Kong uses a territorial approach, while the U. S. follows the global system. In terms of effect, explain what this means to Mr. Lee and Mr. Anderson. ANS Mr.Lee is taxed only on the income he receives from Hong Kong, while Mr. Anderson is taxed on his global income. Under the U. S. approach, a citizen or resident is taxed on a worldwide basis. Since the U. S. system could lead to the same income being taxed twice, various relief provisions are necessitated (e. g. , foreign tax credit). PTS 1 REF Global Tax Issues on p. 3-5 REF Example 49 2. In satisfying the support test and the gross income test for claiming a dependency exemption, a scholarship received by the person being claimed is handled the same way for each test. Do you agree or disagree with this statement? Why? ANS Disagree. For purposes of the support test, all of the scholarship is disregarded.For purposes of the gross income test, only th e taxable part is considered (i. e. , the nontaxable part is disregarded). PTS 1 REF p. 3-12 p. 3-14 Tax Determination Personal and Dependency Exemptions An Overivew of Property Transactions 3-33 3. In order to claim a dependency exemption for other than a qualifying child, a taxpayer must meet the support test. Generally, this is done by furnishing more than 50% of a dependents support. What exceptions exist, if any, where the support furnished need not be more than 50%? ANS One exception involves the multiple support agreement. Here, family members collectively furnish more than 50% of the support, but no one person does so.For those qualified individuals who contribute more than 10%, the grouping can designate which person may claim the dependency exemption. The second exception involves the divorced parents of children. The custodial parent is entitled to the dependency exemptions for the children. If this parent agrees not to claim the exemption(s), then the noncustodial pare nt may do so. PTS 1 REF p. 3-15 p. 3-16 4. In applying the gross income test in the case of dependents that are married, could the application of community property laws have any effect? Explain. ANS Most often, the application of community property laws will impact on the dependency status of the spouse of a qualifying child.Suppose, for example, Roger maintains a household that includes his 18-year-old daughter, Alice, and her husband, Craig. Assume further that Alice earns $8,000 from a part-time job while Craig has no income. In a common law state, Craig meets the gross income test (i. e. , $0) while Alices gross income, as a qualifying child, is immaterial. In a community property state, however, Craig now violates the gross income test with $4,000 (50% $8,000) of income, while Alice remains immune. PTS 1 REF p. 3-36 5. In meeting the criteria of a qualifying child for dependency exemption purposes, when if ever, might the childs income become relevant? ANS The amount of incom e earned by the qualifying child normally is of no consequence.If, however, such income is used to make the child self-supporting, then he or she can no longer be a qualifying child. Such child also would not be a qualifying relative due to the gross income and support tests. PTS 1 REF p. 3-12 3-34 2009 Annual