Practice Test GeeksCTA - Certified Tax Advisor Practice Test
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Individual Income Tax Flashcards

6 cards from real CTA practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.

Read the first 6 Individual Income Tax flashcards as text

  1. What is the standard deduction for a single filer for tax year 2024?

    Answer: $14,600

    For tax year 2024, the standard deduction for single filers is $14,600.

  2. Which form is used by US taxpayers to file their individual federal income tax return?

    Answer: Form 1040

    Form 1040 is the standard US individual income tax return form.

  3. Which of the following is considered ordinary income for federal tax purposes?

    Answer: Wages and salaries

    Wages and salaries are taxed as ordinary income at regular marginal tax rates.

  4. What is the top marginal federal income tax rate for individuals in 2024?

    Answer: 37%

    The top marginal federal income tax rate for individuals is 37% as of 2024.

  5. Which filing status generally results in the lowest tax liability for an eligible taxpayer?

    Answer: Married Filing Jointly

    Married Filing Jointly typically provides the lowest tax liability due to wider tax brackets and higher standard deductions.

  6. Alimony received under a divorce agreement finalized after December 31, 2018 is treated how for federal income tax purposes?

    Answer: Tax-exempt

    Under the Tax Cuts and Jobs Act, alimony received under post-2018 agreements is no longer includable in the recipient's gross income.