1040 a 1040 form - Study guides, Class notes & Summaries

HRB 1-6 quiz Questions with Complete Solutions A taxpayer should include which of the following when figuring their federal gross income? - Answer-Gifts and inheritances. Life insurance payments, if paid by reason of the death of the insured. Meals and lodging provided for the convenience of the employer Prizes and awards. To avoid the risk of penalties, tax preparers must abide by rules regarding preparer tax identification numbers (PTINs). Which of the following statements is TRUE rega...

HRB 1-6 quiz Questions with Complete Solutions A taxpayer should include which of the following when figuring their federal gross income? - Answer-Gifts and inheritances. Life insurance payments, if paid by reason of the death of the insured. Meals and lodging provided for the convenience of the employer Prizes and awards. To avoid the risk of penalties, tax preparers must abide by rules regarding preparer tax identification numbers (PTINs). Which of the following statements is TRUE regar...

Commercial Real Estate SAE - Champion's School of Real Estate 495 Questions with Verified Answers Productivity Management - CORRECT ANSWER Measuring the results from the use of available systems and tools for prospecting activities CRM - CORRECT ANSWER Contact Relationship Manager, a tool used to automate prospecting tasks and manage leads Geographic farming - CORRECT ANSWER A particular area that may include neighborhoods that a sales agent or broker markets for the solicitation of bu...

Where should unemployment compensation be reported on Form 1040? Schedule 1, line 7 What form is used to report long-term disability benefits to the taxpayer? 1099-R Which of the following nondependent taxpayers is NOT eligible to claim the student loan interest deduction? A taxpayer filing married filing separately Which qualifying child requirement does Morris fail? Morris, the potential dependent, is a single 20-year-old man. He is a full-time student at the local university. He lives...

H&R BLOCK Latest Questions And Answers Rated A+ Where should unemployment compensation be reported on Form 1040? Schedule 1, line 7 What form is used to report long-term disability benefits to the taxpayer? 1099-R Which of the following nondependent taxpayers is NOT eligible to claim the student loan interest deduction? A taxpayer filing married filing separately Which qualifying child requirement does Morris fail? Morris, the potential dependent, is a single 20-year-old man. He is a full...

Which of the following is a requirement for all taxpayers who want to claim the EIC? Live in the U.S. for more than half a year. Have a valid social security number. Have a qualifying child dependent. Have AGI less than $21,430 ($27,380 MFJ). - ️️Have a valid social security number. A combined due diligence penalty of $2,180 would indicate a penalty for which of the following? EIC, CTC/ODC/ACTC, and head of household. EIC, AOTC, and CTC/ODC/ACTC. EIC, AOTC, CTC/ODC/ACTC, and he...

What is the Difference between earned income and unearned income? - ANSWERSEarned income is received for services performed. Examples are wages commissions, tips and generally farming and other business income . Taxable income other than that received for services performed. Unearned Income includes money received ro the investment of money or other property, such as interest, dividends, and royalties. It also includes pensions alimony, unemployment compensation and other income that is not earn...

Which of the following is a requirement for all taxpayers who want to claim the EIC? Live in the U.S. for more than half a year. Have a valid social security number. Have a qualifying child dependent. Have AGI less than $21,430 ($27,380 MFJ). : Have a valid social security number. A combined due diligence penalty of $2,180 would indicate a penalty for which of the following? EIC, CTC/ODC/ACTC, and head of household. EIC, AOTC, and CTC/ODC/ACTC. EIC, AOTC, CTC/ODC/ACTC, and head of hou...

H&R Block Specialist Test Questions & Revised Correct Answers 1. Sam pays his 19 yr. old son, Joshua, $550/month to maintain the lawn & garden at the family residence. Sam is subject to what household employment tax rules for Joshua? - ANSWER : A. Since Joshua is not performing any child case services, the household tax rules do not apply. B. Since Joshua is the taxpayer's child under age 21, the household employment tax rules do not apply. C. Since no evidence is given that Jos...

HR BLOCK FINAL Actual Exam Questions | 100% Correct Answers | Verified 2024 Version What is the difference between earned income and unearned income? - Earned income is received for services performed. Some examples of earned income include wages, commissions, tips, farming, and other business income. Unearned income is taxable income that does not meet the definition of earned income. Examples of unearned income include interest income, dividends, rents and royalties, pensions, alimony,...