Using theCode Arranged Annotations (USTR) Topic Index,listed property can be found in which Code Section (click on the IRC button)?

Section 24

Section 179A

Section 1684.0282

Section 280F

Flag this Question

Question 2

1pts

Find the Advance Code Arranged Annotations and expand Business Expenses.Provide the number and title of any recent development underOrdinary and necessary defined.

View keyboard shortcuts

Flag this Question

Question 3

1pts

By expanding the Business Expenses (1614 -- 1624) under the Code Arranged Explanations, you find the topic heading of 1624 Trade or business expenses.

True

False

Flag this Question

Question 4

1pts

Find the annotation (Code Arranged Annotations) concerning Gross IncomeTaxable Income (look under Income). The name of one of the cases listed under extortion is

Group of answer choices

Stuart Greenfield

George M. Cohan

Thomas Welch

Harold Jenkins

Flag this Question

Question 5

1pts

Type Casualty loss in the search bar and place a check in the box next to Code Arranged Annotations (USTR) and hit search.There are over 400 hits.

True

False

Flag this Question

Question 6

1pts

According to 165, which of the following statements is TRUE?

Group of answer choices

In general, taxpayers may carryover excess casualty losses to the next year.

In general, the total deductions for any taxable year shall not exceed 10 percent of the corporation's taxable income.

For taxable years 2018 through 2025, personal casualty losses are allowed only to the extent that is attributable to a Federally declared disaster area.

All of the above

Flag this Question

Question 7

1pts

Finding Regulations.(T/F)Reg. 1.165-8 does not give a definition for a theft loss.

Group of answer choices

True

False

Flag this Question

Question 8

1pts

In Part One, you learned that authority can be either primary or secondary.Can you cite Annotation citations as primary authority?(Please note that I am asking about citing the Annotation itself, not the underlying authority contained within the Annotation.)

Group of answer choices

Annotations can be cited as primary authority.

Annotations cannot be cited as primary authority

Flag this Question

Question 9

1pts

Put a check mark in the box next to the FTC.Type the following phrase in the search:What is the limitation on casualty losses for a business?The number of total results were:

Group of answer choices

10 or less

Between 11 and 150

More than 150

There were no results.

Flag this Question

Question 10

1pts

The RIA Federal Tax Coordinator is arranged by chapters.

True

False