Exam (elaborations)
H & R Block Study quiz ch 1-11
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- H & R Block Study Quiz Ch 1-11
H & R Block Study quiz ch 1-11
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H & R Block Study quiz ch 1-11Which of the following dependent relatives does not have to live in the same
household with the taxpayer at any time during the year to qualify the
taxpayer for head of household status? Aunt,mother,brother, married child? -
-Mother
-Ronald and Sue Dobbins, a married couple, were both 61 years old when
Ronald died on January 1, 2017. Sue did not remarry. How many personal
exemptions may Sue claim when filing her joint 2017 return? - -2
-Jennifer Searcy, a single mother, has three children, Sydney (7), Patrick
(11), and JoAnna (17). Jennifer's AGI is $62,000, and her tax liability is
$4,804. All three children are Jennifer's qualifying child dependents. How
much is Jennifer's Child Tax Credit? - -2000
-Which of the following income items is not subject to income tax on the
federal return? Birthday gift,bank interset,ailmony,income from illegal activty
- -Birthday gift
-Taxpayers who receive interest exceeding $1,500 must file: - -Schedule B
-The taxpayer must file Form 1040 to claim which of the following
deductions? - -Schedule A
-Taxpayers whose only capital gain income is normal capital gain
distributions from mutual funds generally compute their tax using: - -The
Qual Div and Cap gain Tax Worksheet
-Failure to the meet the 2017 due diligence requirements for EITC, AOTC,
and CTC/ACTC claimed on one return could result in which of the following? -
-Maximum penalty of $1,530, per return, assessed towards the paid tax
preparer.
-All of the following are due diligence requirements a Tax Professional must
meet for EITC, AOTC, and CTC/ACTC EXCEPT: - -Investigate and verify the
accuracy of information the taxpayer provides to show eligibility for EITC,
AOTC, and/or CTC/ACTC.
-Which of the following is NOT TRUE about the due diligence requirements?
The Tax Professional must _ - -(NOT TRUE)Always obtain documentation to
prove the relationship and residency of a qualifying child before completing a
claim for the EITC, CTC/ACTC, or AOTC.
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