1. Which of the following is true about capital gains?

a. short-term capital gains are not netted with other capital gains and losses.

b. for 2015, long-term capital gains are subject to special tax treatment.

c.long-term capital gains are never taxed.

d.net short-term capital gains are not netted with net long-term capital losses.

e. none of the above

2. Which of the following is deductible as a miscellaneous itemized deduction?

a. union dues

b. professional dues and subscriptions

c. job hunting expenses

d. investment expenses.

e.all of the above are miscellaneous deductions.

3. Which of the following charitable contributions is not taxable?

a.cash donated to a qualified church

b.clothing donated to a qualified veteran's organization

c.time donated to a qualified veteran's organization

d.donation of a car to a qualified non-profit organization

e.all of the above are tax deductible

Answer rating: 100% (QA)

1 D is correct Net shortterm ... View the full answer