Taxes, Savings, Investments, and Philanthropy Quiz

Interest earned on a savings account must be reported as (a)   on a tax return.

A (a)   market is when stock prices are generally rising.

What percentage of capital gains tax does a single filer pay in 2021 if they earned less than $40,400?

• 5%

• 10%

• 15%

• 0%

Which type of retirement account allows for tax-free withdrawals in retirement?

• 401(k)

• Roth IRA

• Traditional IRA

• SEP IRA

How much capital gain can a married couple exclude from taxes when selling their primary residence?

• $100,000

• $250,000

• $400,000

• $500,000

Which budget plan allocates 50% of income for needs, 30% for wants, and 20% for savings?

• Emergency fund model

• Zero-based budget

• 50-30-20 plan

• Cash-only budget

What does the color green on a stock ticker indicate?

• Price dropped

• No change

• Price increased

• Trading halted

Stock dividends received in cash are taxed as:

• Property tax

• Sales tax

• Capital gains

• Income

What is a pooled investment managed by a professional called?

• Hedge fund

• Mutual fund

• Index bond

• 401(k)

Which of the following is not a crowdfunding platform mentioned?

• GoFundMe

• DonorsChoose

• Robinhood

• CaringBridge