A Taxpayer Had AGI of $300,000 in 2015 and AGI

question 73

Multiple Choice

A taxpayer had AGI of $300,000 in 2015 and AGI of $250,000 in 2014. When filing her 2015 return, she expects her unpaid tax liability to be at least $1,000. She must make estimated payments equal to the smaller of 90% of the tax shown on her 2015 return or

• A) 110% of the tax on her 2014 return because 2014 AGI was more than $150,000.
• B) 100% of the tax on her 2014 return regardless of 2015 AGI.
• C) 100% of the tax on the 2014 return because 2015 AGI was more than $100,000.
• D)110% of the tax on the 2014 return because 2014 AGI was greater than 2015 AGI.

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Definitions:

Alleles

Different forms of a gene that can exist at a specific locus on a chromosome, contributing to genetic variation within a population.

Independent Assortment

The principle by Mendel stating that genes for different traits can segregate independently during the formation of gametes.

Heterozygous

A genetic condition where an individual has two different alleles of a particular gene or genes.

Allele

One of two or more alternative forms of a gene that arise by mutation and are found at the same place on a chromosome.