Correct Answer
verified
Multiple Choice
A) $0.
B) $11,000.
C) $39,000.
D) $50,000.
Correct Answer
verified
Multiple Choice
A) $0.
B) $50 million.
C) $20 million.
D) $6 million.
Correct Answer
verified
True/False
Correct Answer
verified
Multiple Choice
A) If title passes on the inventory outside the U.S., all of the inventory income is foreign source.
B) Because the inventory is manufactured in the U.S., all of the inventory income is U.S. source.
C) The taxpayer may use the 50-50 method to source one-half the income based on title passage and one-half the income based on location of production assets.
D) The taxpayer may use the 50-50 method to source one-half the income based on title passage and one-half the income based on where the sale negotiation takes place.
Correct Answer
verified
True/False
Correct Answer
verified
Multiple Choice
A) $35,000.
B) $135,000.
C) $140,000.
D) $175,000.
Correct Answer
verified
Multiple Choice
A) Two or more governments.
B) Two related taxpayers.
C) The taxpayer and the IRS.
D) The IRS and U.S. taxing authorities.
Correct Answer
verified
True/False
Correct Answer
verified
Multiple Choice
A) 0%.
B) 15%.
C) 30%.
D) 35%.
Correct Answer
verified
Multiple Choice
A) U.S. resident because she has a green card.
B) U.S. resident since she was a U.S. resident for the past immediately preceding two years.
C) Not a U.S. resident because Shannon was not in the United states for at least 31 days during 2012.
D) Not a U.S. resident since, using the three-year test, Shannon is not present in the United states for at least 183 days.
Correct Answer
verified
True/False
Correct Answer
verified
Multiple Choice
A) $0.
B) ($50) .
C) $100.
D) $150.
Correct Answer
verified
Multiple Choice
A) Foreign persons must be physically present in the United States before any U.S.-source income is subject to U.S. income or withholding tax.
B) Foreign individuals may be subject to U.S. income tax but foreign corporations are never subject to U.S. income tax.
C) Foreign persons are only subject to U.S. income or withholding tax if engaged in a U.S. trade or business.
D) Foreign persons are potentially subject to U.S. withholding tax on U.S.-source investment income.
Correct Answer
verified
Multiple Choice
A) $8,000.
B) $5,000.
C) $4,500.
D) $3,000.
Correct Answer
verified
Essay
Correct Answer
verified
View Answer
Multiple Choice
A) Foreign persons never are subject to U.S. income tax.
B) Foreign persons are subject to U.S. income tax only on gains from U.S. real property.
C) Foreign persons are subject to a withholding tax on foreign-source portfolio income.
D) Foreign persons are subject to a withholding tax on U.S.-source portfolio income.
Correct Answer
verified
True/False
Correct Answer
verified
Multiple Choice
A) Real property taxes.
B) Value added taxes.
C) Dividend withholding taxes.
D) Sales taxes.
Correct Answer
verified
Essay
Correct Answer
verified
View Answer
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