An individual who claims a deduction for qualified business income under § 199A:
A. Is more likely to have a penalty imposed for an error on the return than someone who does not claim this deduction.
B. Is less likely to have a penalty imposed for an error on the return than someone who does not claim this deduction.
C. Is just as likely to have a penalty imposed as any other individual with an error on the return.
D. None of these.
Answer: A
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List the major objectives of events and experiences as promotion tools
What will be an ideal response?
By creating consumer wants, advertising and other marketing practices violate:
A. free market economy. B. consumer demand. C. rights-based ethical tradition. D. consumer autonomy.
Compensatory damages are typically assessed against the breaching party:
a. as a penalty for breaching the contract. b. only under the UCC when the sale of goods is the subject of the contract. c. to put the non-breaching party in the position it would have been in had the contract never been formed. d. to put the non-breaching party in the position it would have been in if the contract hadn't been breached.
Emerald, Inc., earned revenues of $69,000 and incurred expenses of $74,000. No dividends were declared. Which of the following statements is correct?
A) The entry to close Income Summary is the same regardless of a net income or a net loss. B) Retained Earnings will be debited for $5,000 and Income Summary will be credited for $5,000. C) The entries to close revenues and expenses will differ if there is a net loss. D) The entry to close Income Summary requires a debit to the Income Summary account.