H&R Block Midterm Review Exam
Questions And Answers (Guaranteed A+)
Which of the following is considered earned income? C - answer✔a) Interest from a bank
b) Unemployment compensation
c) Income from farming
d) Gambling winnings
The tax on income that comes entirely from wages under $100,000 is determined according to
the: A - answer✔a) Tax Tables
b) Tax Computation Worksheet
c) Qualified Dividends and Capital Gain Tax Worksheet
d) Schedule D Tax Worksheet
Which of the following shows these numbers rounded correctly: $31.43, $143.57, $369.22,
$1,547.88. B - answer✔a) $32. $142. $368. $1,547.
b) $31. $144. $369. $1,548.
c) $31. $142. $369. $1,547.
d) $32. $144. $368. $1,547.
Which form is used by employers to report wages earned by their employees? A - answer✔a)
Form W-2
b) Form W-4
c) Form 1040
d) Form 1040A
What is the exemption amount for 2017? B - answer✔a) $3,850
ALL RIGHTS RESERVED.
b) $4,050
c) $5,050
d) $6,050
The following three factors determine the filing requirement for nondependents: B - answer✔a)
Marital status, age, and residency
b) Marital status, age, and gross income
c) Marital status, age, and taxable income
d) Marital status, age, and total deductions
The standard deduction on an income tax return is determined by: C - answer✔a) Citizenship
b) Residency
c) Filing status
d) Gross income
The head of household filing status requires that a taxpayer maintain a household for: A -
answer✔a) A qualifying child, qualifying relative, or a parent whom the taxpayer is allowed to
claim as an exemption on their tax return
b) At least one other person
c) A beloved family pet
d) Maintaining a household for another person is not a requirement of the HOH filing status.
For tax purposes, when is a person's marital status determined? D - answer✔a) On the first day
of the tax year.
b) On the taxpayer's birthday.
c) On the day the person files their tax return.
d) On the last day of the tax year.
Under what circumstances might a taxpayer who does not meet the federal filing requirement
want to file a return anyway? A - answer✔a) If there was any federal tax withheld or they are
entitled to any refundable credits.
b) If there was any federal tax withheld or they are entitled to any nonrefundable credits.
c) To claim itemized deductions.
d) If there was any state tax withheld or they are entitled to any refundable credits
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