Tax Returns for Deceased Individuals Quiz
10 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which return is required for all deceased individuals?

  • Return for Income from a Testamentary Trust
  • Rights or Things Return
  • Final T1 return (correct)
  • Partnership or Proprietorship Income Return

Which return is elective or optional depending on the types of income of the deceased?

  • Partnership or Proprietorship Income Return
  • Return for Income from a Testamentary Trust
  • Final T1 return
  • Rights or Things Return (correct)

What type of income does the Return for Income from a Testamentary Trust focus on?

  • Business Partnership Income
  • Testamentary Trust Income (correct)
  • Investment Income
  • Individual Employment Income

When should the Partnership or Proprietorship Income Return be filed?

<p>Only if the deceased had partnership income (A)</p> Signup and view all the answers

Which return has a specific provision number of 150(4) according to the text?

<p>Partnership or Proprietorship Income Return (D)</p> Signup and view all the answers

What is the filing deadline for the Final T1 Return if an individual passes away on November 15?

<p>June 15 of the following year (B)</p> Signup and view all the answers

If an individual died on October 20, by when should the Final T1 Return be filed?

<p>April 30 of the following year (C)</p> Signup and view all the answers

What is the filing deadline for the Final T1 Return if an individual dies on December 20?

<p>Within six months after the date of death (C)</p> Signup and view all the answers

In what situation does the Final T1 filing deadline differ from the usual April 30 deadline?

<p>When the deceased was carrying on a business as a sole proprietor or partner (D)</p> Signup and view all the answers

What happens if a Final T1 Return is filed after its respective deadline?

<p>A fixed penalty (D)</p> Signup and view all the answers

More Like This

Use Quizgecko on...
Browser
Browser