Exam (elaborations)
ADVANCED EXAM VITA QUESTIONS WITH CORRECT ANSWERS.
- Course
- Institution
ADVANCED EXAM VITA QUESTIONS WITH CORRECT ANSWERS.
[Show more]
Seller
Follow
Content preview
ADVANCED EXAM 2024-2025 VITA QUESTIONS WITHCORRECT ANSWERS
• Lydia's husband, Morgan, moved out of their home in February of 2021. Lydia has had no
contact with
Morgan since he moved out. Lydia and Morgan are not legally separated.
• Lydia has one child, Mary, age 10. She will claim Mary as a dependent on her 2023 tax return.
• Lydia is 31 years old.
• Lydia earned $42,300 in wages and received $50 of interest. Lydia had lottery winnings of
$2,000 reported on Form W2-G.
• Lydia paid all the costs of keeping up her home. She provided over half of the support for
Mary.
• They all are U.S. citizens and have valid social security numbers. They lived in the U.S. all year.
1. Lydia qualifies for Head of Household filing status. - CORRECT ANSWER-True
• Lydia's husband, Morgan, moved out of their home in February of 2021. Lydia has had no
contact with
Morgan since he moved out. Lydia and Morgan are not legally separated.
• Lydia has one child, Mary, age 10. She will claim Mary as a dependent on her 2023 tax return.
Advanced Exam 2024-2025 vita questions with correct answers
,• Lydia is 31 years old.
• Lydia earned $42,300 in wages and received $50 of interest. Lydia had lottery winnings of
$2,000 reported on Form W2-G.
• Lydia paid all the costs of keeping up her home. She provided over half of the support for
Mary.
• They all are U.S. citizens and have valid social security numbers. They lived in the U.S. all year.
2. Who qualifies to claim the earned income credit for Mary? - CORRECT ANSWER-Lydia
• Scott and Barbara are married and want to file a joint return.
• Scott is a U.S. citizen and has a valid Social Security number. Barbara is a resident alien and
has an ITIN. They resided in the United States all year with their children.
• Scott and Barbara have two children, Maria, age 8, and Luis, age 16. Maria and Luis are U.S.
citizens and have valid Social Security numbers.
• Scott earned $22,000 in wages.
• Barbara earned $20,000 in wages.
• In order to work, the Gymses paid $2,000 to their son Luis to care for Maria after school.
• Scott and Barbara provided all of the support for their two children.
Advanced Exam 2024-2025 vita questions with correct answers
, 4. The maximum amount Scott and Barbara are eligible to claim for the Child Tax Credit is
$2,000. - CORRECT ANSWER-True
• Scott and Barbara are married and want to file a joint return.
• Scott is a U.S. citizen and has a valid Social Security number. Barbara is a resident alien and
has an ITIN. They resided in the United States all year with their children.
• Scott and Barbara have two children, Maria, age 8, and Luis, age 16. Maria and Luis are U.S.
citizens and have valid Social Security numbers.
• Scott earned $22,000 in wages.
• Barbara earned $20,000 in wages.
• In order to work, the Gymses paid $2,000 to their son Luis to care for Maria after school.
• Scott and Barbara provided all of the support for their two children.
5. Payments made to Luis can be claimed on Form 2441 as child and dependent care expenses.
- CORRECT ANSWER-False
• Rose Jones, age 57, is single.
• Rose earned wages of $52,000 and was enrolled the entire year in a high deductible health
plan (HDHP) with self-only coverage.
Advanced Exam 2024-2025 vita questions with correct answers
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 Lectphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
56326 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now