10000D - Sample Course
This exam has 5 questions and requires a score of 70% to receive credit. |
Note: Regular exams will allow you to save progress and return at a later time. This feature is not available for the sample course. |
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| 1. | What is the standard deduction for a 65 year old individual who files as single in 2024: |
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a. | $14,600 |
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b. | $16,150 |
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c. | $16,550 |
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d. | $31,150 |
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| 2. | For homeowners who take out a new mortgage for a first or second home, the mortgage interest deduction is available for up to a maximum of how much of mortgage debt: |
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a. | $250,000 |
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b. | $500,000 |
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c. | $750,000 |
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d. | $1,000,000 |
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| 3. | Which of the following is correct regarding the medical expense deduction for 2024: |
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a. | it is limited to expenses up to 7.5% of adjusted gross income |
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b. | it is limited to expenses greater than 7.5% of adjusted gross income |
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c. | it is limited to expenses up to 10% of adjusted gross income |
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d. | it is limited to expenses greater than 10% of adjusted gross income |
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| 4. | For 2024, what is the maximum estate and gift tax exemption for an individual taxpayer: |
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a. | $5.0 million |
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b. | $10.0 million |
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c. | $13.61 million |
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d. | $27.22 million |
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| 5. | In December 2024, what is the standard mileage rate for eligible business use of a vehicle: |
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a. | 18.0 cents per mile |
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b. | 65.5 cents per mile |
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c. | 67.0 cents per mile |
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d. | to improve tax credits 70.0 cents per mile energy efficient home improvements |
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