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Tax Code Blitz Stats
Can you name the Income Tax Provision? Huh? Can ya!??
By
ef818
7m
46 Questions
110 Plays
110 Plays
110 Plays
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You Got
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Avg Score
41%
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Score Distribution
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Score
0/46
Timer
07:00
0
Plays Today
Description
Provision
% Correct
Gifts & Inheritances
102
70.9%
Trade/
business expenses (deduction for business)
162
70%
Gross income
61
69.1%
Discharge of indebtedness
108
68.2%
Tax Rates
1
68.2%
Fringe Benefits
132
61.8%
Adjusted Gross Income
62
60.9%
Deduction for expenses of producing income
212
60%
Depreciation (what gets depreciated)
167
57.3%
2% floor on itemized deductions
67
56.4%
Charitable contributions/
gifts
170
54.5%
Accelerated depreciation
168
52.7%
Meals/
Lodging furnished for convenience of employer
119
51.8%
Gain (loss) from sale of property
1001
50%
Taxable income/
standard deduction
63
49.1%
Interest
163
49.1%
Deductibility of Losses
165
47.3%
Unrecaptured 1250 gain (buildings)
1250
45.5%
Property transfers in connection w/
services performed
83
44.5%
Amortization of goodwill/
intangibles
197
44.5%
Disallowance for certain entertainment expenses
274
42.7%
3/
80% limitation on itemized deductions
68
40.9%
Hope credit/
Lifetime learning credits
25A
40%
Description
Provision
% Correct
Compensation for injuries or sickness
104
39.1%
what a capital asset is
1221
38.2%
Personal exemption
151
36.4%
Exclusion of gain for sale of principal residence
121
35.5%
Education loan interest
221
34.5%
Definition of a dependent
152
33.6%
Local/
state taxes below the line deductions
164
32.7%
Earned income credit
32
32.7%
Passive Activity Losses & credits limited
469
31.8%
Personal, living & family expenses
262
30.9%
Nonrecognition provision
1031
30.9%
Capital expenditures
263
30%
net long term capital gain (loss)
1222
29.1%
Losses between related taxpayers
267
28.2%
Claim of right doctrine
1341
28.2%
Making work pay credit
36A
27.3%
Child tax credit
24
27.3%
Expenses for household & child care services
21
21.8%
Recovery of tax benefit items (prior year deduction didn't give a benefit, not taxed on amt you get back)
111
19.1%
General rule for choosing methods of accounting
446
18.2%
Acquisitions made to evade/
avoid income tax
269
17.3%
General rule for taxable year of deduction
461
9.1%
Obligations issued at discount (zero coupon bonds/
OID)
454
8.2%
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Dec 10, 2010
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