AICPA CPA-Regulation 問題集

質問 1：
An individual had the following capital gains and losses for the year:

What will be the net gain (loss) reported by the individual and at what applicable tax rate(s)?
A. Long-term capital gain of $3,000 at the 15% rate, collectibles gain of $10,000 at the 28% rate, and Section 1250 gain of $56,000 at the 25% rate.
B. Short-term loss of $3,000 at the ordinary rate, long-term capital gain of $10,000 at the 15% rate, collectibles gain of $10,000 at the 28% rate, and Section 1250 gain of $56,000 at the 25% rate.
C. Long-term gain of $16,000 at the 15% rate.
D. Short-term loss of $3,000 at the ordinary rate and long-term capital gain of $86,000 at the 15% rate.
正解：C
解説: (Topexam メンバーにのみ表示されます)

質問 2：
Tom and Joan Moore, both CPAs, filed a joint 1994 federal income tax return showing $70,000 in taxable income. During 1994, Tom's daughter Laura, age 16, resided with Tom. Laura had no income of her own and was Tom's dependent.
Determine the amount of income or loss, if any that should be included on page one of the Moores'
1994 Form 1040.
The Moores received a $500 security deposit on their rental property in 1994. They are required to return the amount to the tenant.
A. $1,000
B. $1,500
C. $900
D. $500
E. $10,000
F. $75,000
G. $1,300
H. $55,000
I. $0
J. $25,000
K. $1,250
L. $50,000
M. $3,000
N. $2,500
O. $2,000
正解：I
解説: (Topexam メンバーにのみ表示されます)

質問 3：
During 1993 Kay received interest income as follows:
On U.S. Treasury certificates $4,000
On refund of 1991 federal income tax 500
The total amount of interest subject to tax in Kay's 1993 tax return is:
A. $4,000
B. $500
C. $4,500
D. $0
正解：C
解説: (Topexam メンバーにのみ表示されます)

質問 4：
Wallace purchased 500 shares of Kingpin, Inc. 15 years ago for $25,000. Wallace has worked as an owner/employee and owned 40% of the company throughout this time. This year, Kingpin, which is not an S corporation, redeemed 100% of Wallace's stock for $200,000. What is the treatment and amount of income or gain that Wallace should report?
A. $200,000 long-term capital gain.
B. $175,000 ordinary income.
C. $0
D. $175,000 long-term capital gain.
正解：D
解説: (Topexam メンバーにのみ表示されます)

質問 5：
In a tax year where the taxpayer pays qualified education expenses, interest income on the redemption of qualified U.S. Series EE Bonds may be excluded from gross income. The exclusion is subject to a modified gross income limitation and a limit of aggregate bond proceeds in excess of qualified higher education expenses. Which of the following is (are) true?
I. The exclusion applies for education expenses incurred by the taxpayer, the taxpayer's spouse, or any person whom the taxpayer may claim as a dependent for the year.
II. "Otherwise qualified higher education expenses" must be reduced by qualified scholarships not includible in gross income.
A. I only.
B. Both I and II.
C. Neither I nor II.
D. II only.
正解：B
解説: (Topexam メンバーにのみ表示されます)

質問 6：
Elm Corp. is an accrual-basis calendar-year C corporation with 100,000 shares of voting common stock issued and outstanding as of December 28, 1996. On Friday, December 29, 1996, Hall surrendered 2,000 shares of Elm stock to Elm in exchange for $33,000 cash. Hall had no direct or indirect interest in Elm after the stock surrender. Additional information follows:

What amount of income did Hall recognize from the stock surrender?
A. $18,000 capital gain.
B. $33,000 dividend.
C. $25,000 dividend.
D. $17,000 capital gain.
正解：D
解説: (Topexam メンバーにのみ表示されます)

質問 7：
Fred Berk bought a plot of land with a cash payment of $40,000 and a mortgage of $50,000. In addition, Berk paid $200 for a title insurance policy. Berk's basis in this land is:
A. $40,200
B. $90,000
C. $90,200
D. $40,000
正解：C
解説: (Topexam メンバーにのみ表示されます)