F’s friend M is single, a U.S. citizen, and was a member of F’s household for the entire year.  F fully supported M as M had no gross income for the year.  F may claim M as a dependent on her current-year tax return.

 True

 False

The amount realized on the sale of property is reduced by any related selling costs.

 True

 False

Quan operates an illegal game room in Houston. He files a tax return claiming deductions as follows: Rent $10,000, Supplies $5,000, Fines paid to the city $12,000, Bribes paid to police officers $8,000, Salaries $18,000. The IRS should allow Quan to deduct

		$0
		$10,000
		$15,000
		$33,000
		$53,000

Answer rating: 100% (QA)

ANSWER Questin 1 Flse Grss inme fr n individul ls knwn s grss y is the individuls ttl y frm his emly... View the full answer