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HR BLOCK EXAM LATEST UPDATED
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HR BLOCK EXAM LATEST UPDATED ...
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HR BLOCK EXAM LATEST UPDATED2024-2025
List 4 Due Diligence Requirements: 1) Fill out forms 2) Maintain records.
3) Knowledge.
4) Document.
earned income - ANSWER Wages, tips, commissions, farming, and other business
revenue. $ for services.
Unearned income - ANSWER Taxable income includes investment funds,
dividends, rents, royalties, pensions, alimony, and unemployment (not performing
services).
Single filing requirements: ANSWER < 65 10,350.
> 65 11,900
MFJ filing requirements: ANSWER < 65. 20,700
>65 $21,950 (1 spouse)
>65, 23200 (2 spouses).
MFS Filing Requirement: ANSWER 4050
Dependent filing requirement: ANSWER $1050 unearned income.
HOH Filing Requirement - Answer: <65,13,350
, >65 14900
When is the marital status determined? - ANSWER The last day of the tax year.
Or
Date of death if only one spouse died
How much is added to the Ro standard deduction if the individual is over 65 or
blind? - ANSWER 1250 Married, QW
1550 Single and HOH.
What is the personal exemption amount? - Answer 4050.
Two numbers are added to determine gross income filing requirements: ANSWER
Standard Deduction + Personal exemption.
5 tests for a qualifying child: ANSWER 1) Relationship
2)Age
3) Residency
4) Support.
5) Joint Return (Child is not filing a joint return).
What are the tiebreaker rules? - Answer: 1Parent
2)The parent-child slept most of the time at home.
3) The parent has the highest AGI.
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