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.