1. An unmarried taxpayer who maintains a household for a dependent child and whose spouse died four years ago should file as: a.Single b.Head of household c.Married, filing separately d.Qualifying widow(er) e.None of these choices
1. An unmarried taxpayer who maintains a household for a dependent child and whose spouse died four years ago should file as:
a.Single
b.Head of household
c.Married, filing separately
d.Qualifying widow(er)
e.None of these choices are correct.
2. To pay for college, Henry received the following:
$1,000 scholarship from the Thespian Club to pay for books
$4,000 scholarship from the Elks Lodge for tuition
$5,000 worth of room and board as a dorm supervisor through a work-study program
How much income must Henry report on his tax return?
a.$4,000
b.$0
c.$5,000
d.$6,000
e.$10,000
3. Which of the following is not a capital asset?
a.Land
b.A personal automobile
c.Inventory
d.Gold
e.Stocks
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