Income Tax Issues in Personal Investments


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What are capital gains?

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1. What is the benefit of investing in preferred stock?

2. Bailey's accountant made a gross error on her tax return. Which form must be filed with the Internal Revenue Service to correct the mistake?

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About This Quiz & Worksheet

Personal investments and income tax issues will be the subject of this quiz and worksheet. You will find questions on tax reporting errors, as well as passive income and preferred stock.

Quiz & Worksheet Goals

This combination of a quiz and worksheet will ask you to answer questions about the following:

  • Capital gains
  • Investing in preferred stock
  • Correcting errors on tax returns
  • Passive income

Skills Practiced

You will be practicing these skills by taking this quiz and worksheet:

  • Defining key terms - ensure that you understand the definitions of passive income and capital gains
  • Information recall - remember what you have learned about personal investments
  • Knowledge application - apply what you have learned to a question about income tax returns

Additional Learning

For more information, check out the lesson titled Income Tax Issues in Personal Investments. The text will allow you to accomplish the following:

  • See how a bond resembles a loan
  • Define income taxes
  • Name several different income tax forms
  • Learn how poor reporting can result in misinformation