Exam (elaborations)
H&R Block Midterm Review Questions and Answers 100% Accurate
- Course
- Institution
H&R Block Midterm Review
[Show more]
Content preview
H&R Block Midterm ReviewWhich of the following is considered earned income? C - answera) 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 - answera) 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 - answera) $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 -
answera) Form W-2
b) Form W-4
c) Form 1040
d) Form 1040A
What is the exemption amount for 2017? B - answera) $3,850
b) $4,050
c) $5,050
d) $6,050
The following three factors determine the filing requirement for nondependents: B -
answera) 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 - answera)
Citizenship
b) Residency
c) Filing status
d) Gross income
, The head of household filing status requires that a taxpayer maintain a household for: A
- answera) 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 - answera) 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 - answera) 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
Which of the following is not one of the four requirements to claim a dependent? D -
answera) The dependent must be a qualifying child or qualifying relative.
b) The dependent must be a U.S. citizen or a resident of the United States, Canada, or
Mexico.
c) If the dependent is married, they cannot be claimed as a dependent if they file a joint
return with their spouse.
d) The taxpayer must provide 100% of the dependent's support for the whole year.
What are the five tests for a qualifying child? B - answera) Relationship, citizenship,
age, support, and joint return.
b) Relationship, residency, age, support, and joint return.
c) Marital status, residency, age, support, and joint return.
d) Relationship, residency, age, support, and type of income
What are the four tests for a qualifying relative? C - answera) Relationship or member of
the household, gross income, support, and residency.
b) Relationship or member of the household, gross income, citizenship, and not a
qualifying child.
c) Relationship or member of the household, gross income, support, and not a
qualifying child.
d) Relationship or member of the household, gross income, support, and be a qualifying
child.
Which of the following is not counted as support? A - answera) Life insurance
premiums.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now