AICPA CPA Regulation 認定 REG 試験問題:

1. Barkley owns a vacation cabin that was rented to unrelated parties for 10 days during the year for $2,500.
The cabin was used personally by Barkley for three months and left vacant for the rest of the year.
Expenses for the cabin were as follows:
Real estate taxes $1,000
Maintenance and utilities $2,000
How much rental income (loss) is included in Barkley's adjusted gross income?

A) $(500)
B) $500
C) $(1,500)
D) $0

2. In the current year Jensen had the following items:

What is Jensen's AGI for the current year?

A) $84,000
B) $59,000
C) $62,000
D) $44,000

3. On February 1, 1993, Hall learned that he was bequeathed 500 shares of common stock under his
father's will. Hall's father had paid $2,500 for the stock in 1990. Fair market value of the stock on
February 1, 1993, the date of his father's death, was $4,000 and had increased to $5,500 six months later.
The executor of the estate elected the alternate valuation date for estate tax purposes. Hall sold the stock
for $4,500 on June 1, 1993, the date that the executor distributed the stock to him. How much income
should Hall include in his 1993 individual income tax return for the inheritance of the 500 shares of stock,
which he received from his father's estate?

A) $4,000
B) $5,500
C) $2,500
D) $0

4. Which of the following is subject to the Uniform Capitalization Rules of Code Sec. 263A?

A) Editorial costs incurred by a freelance writer.
B) Warehousing costs incurred by a manufacturing company with $12 million in annual gross receipts.
C) Research and experimental expenditures.
D) Mine development and exploration costs.

5. Under a $150,000 insurance policy on her deceased father's life, May Green is to receive $12,000 per
year for 15 years. Of the $12,000 received in 1987, the amount subject to income tax is:

A) $2,000
B) $12,000
C) $1,000
D) $0

質問と回答：