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10000C - Sample Course

This exam has 5 questions and requires a score of 70% to receive credit.

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1. What is the standard deduction for a 65 year old individual who files as single in 2023:
  a. $13,850
  b. $15,350
  c. $15,700
  d. $29,550
 
2. Which of the following is correct regarding the medical expense deduction for 2023:
  a. it is limited to expenses up to 7.5% of adjusted gross income
  b. it is limited to expenses greater than 7.5% of adjusted gross income
  c. it is limited to expenses up to 10% of adjusted gross income
  d. it is limited to expenses greater than 10% of adjusted gross income
 
3. For 2023, what is the maximum estate and gift tax exemption for an individual taxpayer:
  a. $5.0 million
  b. $10.0 million
  c. $12.92 million
  d. $25.84 million
 
4. In December 2023, what is the standard mileage rate for operating your car for charitable purposes:
  a. 14.0 cents a mile
  b. 18.0 cents a mile
  c. 22.0 cents a mile
  d. 65.5 cents a mile
 
5. All of the following are goals of the SECURE Act 2.0 except:
  a. to increase individual retirement savings
  b. to simplify and clarify the retirement plan rules
  c. o lower the employer cost of setting up a retirement plan
  d. to improve tax credits for energy efficient home improvements
 
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