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1- Which of the following statements regarding Roth IRA conversion is true? a. If you...

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Accounting

1- Which of the following statements regarding Roth IRA conversion is true?

a. If you are over the age of 70 and a half years and receiving minimum distributions from the Traditional IRA, you are not allowed to roll over those distributions into the Roth IRA.

b. Your income tax filing status cannot be married filing separately unless you didnt live with your spouse for an entire year, then you may still be eligible if you meet the other requirements.

c. If you inherited an IRA from someone other than a spouse, it cannot be converted from a Traditional IRA to a Roth IRA

d. All of the above statements are true.

2- For 2019, whats standard deduction for a taxpayer who is claimed as a dependent by another taxpayer?

a. $350

b. $1100

c. The individual's earned income less $1,100, not to exceed $12,000

d. The larger of $1,100 or the individual's earned income plus $350, not to exceed $12,200

3- If you and your spouse file separate returns and one of you itemizes deductions, the other spouse

a. Should itemize

b. Must itemize, with a few exceptions

c. Must itemize, no exceptions

d. Can take the standard deduction or itemized deduction whichever is higher

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