In a separate page answer the following questions and attach it to

your tax return report:

1. Explain how taxpayers determine if they should use standard

deduction or itemize deduction. 5 points

2. Explain the difference between earned income and un-earned

income? Give two examples for each. 5 points

3. Explain how interest and dividends are taxed. Explain qualified

and non-qualified dividends and how they are tax? Identify the

amount of Qualified and non-qualified divided from your case. 10

points

4. Identify and explain the four elements necessary to determine

depreciation of an asset. 10 points