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NEW QUESTION: 1
Tom and Joan Moore, both CPAs, filed a joint 1994 federal income tax return showing $70,000 in taxable income. During 1994, Tom's daughter Laura, age 16, resided with Tom. Laura had no income of her own and was Tom's dependent.
Determine the amount of income or loss, if any that should be included on page one of the Moores'
1994 Form 1040.
Tom received $10,000, consisting of $5,000 each of principal and interest, when he redeemed a Series EE savings bond in 1994. The bond was issued in his name in 1990 and the proceeds were used to pay for Laura's college tuition. Tom had not elected to report the yearly increases in the value of the bond.
A. $1,300
B. $55,000
C. $900
D. $75,000
E. $10,000
F. $3,000
G. $1,250
H. $25,000
I. $0
J. $2,500
K. $500
L. $1,500
M. $2,000
N. $1,000
O. $50,000
Answer: I
Explanation:
Explanation
"A" is correct. $0. Generally, if a taxpayer does not make an election to accrue interest income from Series EE bonds, the interest is taxable at the time the bonds are cashed. However, an exception applies in this case because Tom Moore meets the criteria (assume he was 24 years or older in 1990).
Savings bonds is tax-exempt when:
(1) It is used to pay for qualified higher-education expenses for the taxpayer, spouse, or dependents; (2) There is taxpayer or joint ownership with spouse; (3) The taxpayer is age 24 (or over) when the bonds are issued; and (4) The bonds are acquired after 1989.

NEW QUESTION: 2
Unshielded Twisted Pair cabling is a:
A. three-pair wire medium that is used in a variety of networks.
B. two-pair wire medium that is used in a variety of networks.
C. four-pair wire medium that is used in a variety of networks.
D. one-pair wire medium that is used in a variety of networks.
Answer: C
Explanation:
Explanation/Reference:
Explanation:
Unshielded Twisted Pair cabling consists of an outer jacket and four pairs of twisted wire medium.
Incorrect Answers:
B: There are four pairs, not three.
C: There are four pairs, not two.
D: There are four pairs, not one.
References:
https://en.wikipedia.org/wiki/Twisted_pair#Unshielded_twisted_pair_.28UTP.29

NEW QUESTION: 3
Which three common network transport ingredients for hybrid and multicloud networking are true? (Choose three.)
A. encryption
B. routing
C. management
D. switching
E. tunneling
F. encapsulation
Answer: A,E,F

NEW QUESTION: 4
After configuring block storage for File usage, a Storage Administrator has a large number of dVols available for use.
How many dVols will be consumed during the creation of the first 10 GB file system when using AVM with traditional RAID Groups?
A. 0
B. 1
C. 2
D. 3
Answer: B