Wesley owns and operates the Cheshire Chicken Ranch as a sole proprietorship in Turpid,Nevada.The income from this ranch is $49,000.Wesley wishes to use the easiest possible tax form.He may file:
A) Form 1040EZ
B) Form 1040A
C) Form 1040
D) Form 1065
E) None of the above
Correct Answer:
Verified
Q3: A corporation is a reporting entity but
Q5: Which of the following is correct?
A)An individual
Q7: Mark a "Yes" to each of the
Q9: List two general objectives of the tax
Q10: Form 1040 allows a taxpayer to report
Q12: Which of the following is not a
Q12: Distinguish between reporting entities and taxable entities
Q17: Partnership capital gains and losses are allocated
Q18: Which of the following forms may be
Q20: Partnerships:
A)Are not taxable entities.
B)Are taxed in the
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