Discuss generalizability as it applies to nursing research.

1. A payment to a nursing home for the care of a disabled,
dependent parent qualifies as an “employment related” expense for
the household and dependent care credit.
A) True
B) False
2. Payments made to dependent household members may be included in
the computation of dependent care expenses.
A) True
B) False
3. Transportation costs for a child between the taxpayer’s
household and the child care location are allowable child care
expenses.
A) True
B) False
4. The credit for outside dependent care applies only to dependents
under 13 years of age.
A) True
B) False
5. The credit for the elderly applies only to individuals age 65 or
older.
A) True
B) False
6. Foreign income taxes paid to a foreign country may be claimed as
a credit against United States income tax or deducted as an
itemized deduction.
A) True
B) False
7. Taxpayers may elect to carry forward unused general business
credit for 10 years rather than back one year and forward 20
years.
A) True
B) False
8. The work opportunity credit is allowed for up to $2,400.
A) True
B) False
9. Although a work opportunity credit usually is available only for
qualified first-year wages, qualified second-year wages paid to a
long-term family recipient can qualify for the credit.
A) True
B) False
10. The deduction for foreign taxes is only allowed in the year in
which the foreign taxes are paid or incurred.
A) True
B) False
11. What is the amount of dependent care credit for a couple with
two children where they spend $5,000 for dependent care and the
husband earns $40,000 for the year and the wife earns $4,500?
A) $1,000
B) $990
C) $900
D) $0
E) None of the above
12. Joe College is married and attends State University for 12
months. Joe and his wife have two children. Mrs. College works to
help put Joe through school. The children, who are four and five
years old, are kept at Sleepy Time Day Care School. The Colleges
paid the school $4,600 this year to keep the children. The Colleges
had adjusted gross income of $10,000 this year, all of which was
earned by Mrs. College. What amount may the Colleges claim as a
child care credit?
A) $920
B) $480
C) $1,610
D) $1,200
E) None of the above
13. Mr. and Mrs. Gumball are both over age 65. They had income this
year consisting of $8,500 earned income and $1,500 in social
security benefits. What amount may they claim as a credit for the
elderly? They file a joint return.
A) $900
B) $1,165
C) $1,275
D) $0
E) None of the above
14. On July 10, 2007, Test Corporation purchased energy equipment
for $15,000. The equipment has a 5-year cost recovery period. The
corporation took the appropriate investment credit for 2007. On
August 15, 2011, the corporation sold the asset for $10,000. What
is the amount of investment credit recapture that is due to the
IRS?
A) $300
B) $900
C) $1,000
D) $1,500
E) None of the above
15. What is the earned income credit allowed Don Andersen assuming
he has adjusted gross income of $8,500 and earned income of $5,000?
He maintains a household for his daughter.
A) $2,890
B) $3,094
C) $1,700
D) $0
16. Ron Ryder worked for both Boilerworks and Diemakers during the
year. His total wages from Boilerworks were $49,000. His total
wages from Diemakers were $20,000. Ron’s wife worked for
Stenographers during the year and earned total wages of $28,000.
What amount can Ron and his wife claim as a credit against their
income tax for the year because of excess social security tax
withheld if they file a joint return?
A) $290
B) $580
C) $1,240
D) $1,530
E) None of the above
17. What is the “alternative minimum tax” that must be paid by a
taxpayer filing a joint return, if the taxpayer has taxable income
of $95,450, adjustments to taxable income of $29,000, tax
preferences of $50,000, and an income tax before the alternative
minimum tax of $6,000?
A) $21,000
B) $15,000
C) $20,000
D) $0
E) None of the above
18. Which of the following is not a tax preference item for
purposes of the alternative minimum tax?
A) Percentage depletion in excess of the adjusted basis in
property
B) Amortized circulation costs
C) Excess intangible drilling costs
D) Tax-exempt interest on certain private activity bonds
E) All of the above are tax preference items
19. The minimum tax credit:
A) Provides that the amount of AMT paid by a corporation in one
year differences can be used to offset the regular tax liability of
a subsequent year
B) May not be used to offset any future AMT tax liability
C) May be carried forward indefinitely as an offset against regular
tax liability
D) All of the above
20. The tax structure of the individual AMT is a two-tier
progressive tax where:
A) The first $175,000 of AMT base is taxed at a 15 percent rate and
any excess over that amount is taxed at 25 percent
B) The first $175,000 of AMT base is taxed at a 26 percent rate and
any excess over that amount is taxed at 28 percent
C) The first $175,000 of AMT base is taxed at a 25 percent rate and
any excess over that amount is taxed at 35 percent
D) None of the above
21. Which of the following taxpayers derives the most benefits from
a $1 tax credit?
A) Moderate-income taxpayers
B) Higher-income taxpayers
C) Lower-income taxpayers
D) All of the above derive the same benefit for a $1 tax credit
22. Unused general business credits can be:
A) Carried back one year and carried forward ten years
B) Carried back two years and carried forward ten years
C) Carried back one year and carried forward 20 years
D) Carried back two years and carried forward 20 years
E) Carried back three years and carried forward five years
23. When tentative minimum tax exceeds the taxpayer’s regular tax
liability, the excess represents the taxpayer’s:
A) Net income tax
B) Alternative minimum tax (AMT)
C) Total income tax liability
D) None of the above
24. A work opportunity credit is available for qualified
second-year wages paid to which one of the following?
A) Qualified veterans
B) Long-term family assistance recipient
C) Qualified ex-felon
D) High-risk youth
25. To claim the disabled access credit, an eligible small business
is defined as:
A) One whose gross receipts did not exceed $1 million
B) One who employed no more than 30 full-time employees
C) One who is located in one of the target areas defined by the
government
D) a and b
E) All of the above
26. The low-income housing credit can be claimed by owners of
qualified low-income building for a period of:
A) 5 years
B) 10 years
C) 15 years
D) 20 years
E) None of the above

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