Reference no: EM132760017
Problem 1 : What is the taxable portion of Travis' pension from Pinto Corporation using the Simplified Method? $________.
Problem 2 : Sylvia is eligible to make a contribution to her traditional IRA by the due date of her tax return?
True or False?
Problem 3 : Sylvia is eligible to make a contribution to her traditional IRA by the due date of her tax return?
True or False
Problem 4 : The taxable portion of the Social Security benefits on the Kennedys' Form 1040 is $17,850.
True or False
Problem 5 : What are the total payments reported on the Kennedys' Form 1040? $________.
Problem 6 : When must Sylvia take a required minimum distribution (RMD) from her traditional IRA?
A. By December 31, 2020, because she does not qualify for a waiver.
B. By December 31, 2021, because the RMD was waived for tax year 2020.
C. By April 1 and December 31, 2022, the year after she turns age 72.
D. Sylvia will never be required to take the RMD from her traditional IRA.