Question 14 Which of the following corporations is entitled to join in a consolidated tax return without making a special election?
Question 15 Susan contributed land with a basis of $ 6,000 and an FMV of $ 10,000 to the SH Partnership two years ago to acquire her partnership interest. This year, the land is distributed to Harry when its FMV is $ 11,000. No other distributions have been made since Susan became a partner. When the land is distributed, the partnership ' s basis in the land immediately before distribution is increased by
Question 16 What is the penalty for a tax return preparer who willfully attempts to understate taxes, or intentionally disregards the tax rules and regulations?
Question 17 When computing the partnership ' s ordinary income, a deduction is allowed for
Question 18 Identify which of the following statements is true.
Question 19 A consolidated return ' s tax liability is owed by
Question 20 Terry files his return on March 31. The return shows taxes of $ 6,000, and Terry pays this entire amount when he files his return. By what time must he file a claim of refund?
Question 21 The IRS provides advice concerning an issue that arises during an audit by issuing
Question 22 In computing the ordinary income of a partnership, a deduction is allowed for
Question 23