INTUIT TAX LEVEL 1 EXAM WITH 150
QUESTION AND CORRECT ANSWERS UPDATE
THIS YEAR
QUESTIONNon-deductible Expenses - answer-Federal income
Social Security
Medicare
Federal unemployment
Railroad retirement
Custom duties
Federal estate & gift taxes
Gasoline, car, property improvements, license fee taxes
Foreign personal or real property taxes
State & local income AND sales taxes
All real estate taxes that year if sold home
QUESTIONNontaxable Income - answer-child support payments, welfare benefits, cash rebates,
damage awards for personal injury or sickness, gifts, alimony for divorce after 2018, healthcare
benefits, money reimbursed from qualifying adoptions, life insurance policy when someone dies,
money from a qualified scholarship except if spent on rent, personal expenses.
QUESTIONIs Gofund me taxable? - answer-False
Married Filing Jointly: Social Security Taxes - answer-Below $32,000 - No tax
$32k -$44k - 50%
$44k + - 85%
QUESTIONAll other filing status': Social Security Tax - answer-Below $25,000 - No tax
$25k-$34k - 50%
$34k+ - 85%
QUESTIONStates that tax social security income - answer-Colorado
CT
Kansas
Minnesota
, Montana
New Mexico
RI
Utah
Vermont
WV
QUESTIONCan you amend your tax return from married filing jointly to married filing separately? -
answer-
QUESTIONAre guaranteed payments considered wages in Box 1 on 1040? - answer-The payments
are recorded on schedule k-1 and included as income on schedule E of their form 1040
QUESTIONForm 8812 - answer-Additional Child Tax Credit
QUESTIONForm 1040 - answer-The standard Internal Revenue Service (IRS) form that individuals
use to file their annual income tax returns.
QUESTIONForm 1116 - answer-Foreign Tax Credit (Individual, Estate or Trust)
QUESTIONForm 2241 - answer-Child and dependent care expenses
QUESTIONForm 5695 - answer-Residential Energy Credits
QUESTIONForm 8862 - answer-Information To Claim Earned Income Credit
After Disallowance
QUESTIONForm 2210 - answer-Underpayment of Estimated Tax by Individuals, Estates, and Trusts
QUESTIONForm 1040 X - answer-Amended U.S. Individual Income Tax Return
QUESTIONForm 1040-SR - answer-U.S. Tax Return for Seniors
QUESTIONQualifying Child - answer-A child who meets the relationship, age, residency, support,
joint return, and the special test tests with regard to a taxpayer to determine the taxpayer's
eligibility to claim the dependency exemption, child tax credit, earned income credit, or child and
dependent care credit with regard to the child, or to use the head of household filing status.
QUESTION AND CORRECT ANSWERS UPDATE
THIS YEAR
QUESTIONNon-deductible Expenses - answer-Federal income
Social Security
Medicare
Federal unemployment
Railroad retirement
Custom duties
Federal estate & gift taxes
Gasoline, car, property improvements, license fee taxes
Foreign personal or real property taxes
State & local income AND sales taxes
All real estate taxes that year if sold home
QUESTIONNontaxable Income - answer-child support payments, welfare benefits, cash rebates,
damage awards for personal injury or sickness, gifts, alimony for divorce after 2018, healthcare
benefits, money reimbursed from qualifying adoptions, life insurance policy when someone dies,
money from a qualified scholarship except if spent on rent, personal expenses.
QUESTIONIs Gofund me taxable? - answer-False
Married Filing Jointly: Social Security Taxes - answer-Below $32,000 - No tax
$32k -$44k - 50%
$44k + - 85%
QUESTIONAll other filing status': Social Security Tax - answer-Below $25,000 - No tax
$25k-$34k - 50%
$34k+ - 85%
QUESTIONStates that tax social security income - answer-Colorado
CT
Kansas
Minnesota
, Montana
New Mexico
RI
Utah
Vermont
WV
QUESTIONCan you amend your tax return from married filing jointly to married filing separately? -
answer-
QUESTIONAre guaranteed payments considered wages in Box 1 on 1040? - answer-The payments
are recorded on schedule k-1 and included as income on schedule E of their form 1040
QUESTIONForm 8812 - answer-Additional Child Tax Credit
QUESTIONForm 1040 - answer-The standard Internal Revenue Service (IRS) form that individuals
use to file their annual income tax returns.
QUESTIONForm 1116 - answer-Foreign Tax Credit (Individual, Estate or Trust)
QUESTIONForm 2241 - answer-Child and dependent care expenses
QUESTIONForm 5695 - answer-Residential Energy Credits
QUESTIONForm 8862 - answer-Information To Claim Earned Income Credit
After Disallowance
QUESTIONForm 2210 - answer-Underpayment of Estimated Tax by Individuals, Estates, and Trusts
QUESTIONForm 1040 X - answer-Amended U.S. Individual Income Tax Return
QUESTIONForm 1040-SR - answer-U.S. Tax Return for Seniors
QUESTIONQualifying Child - answer-A child who meets the relationship, age, residency, support,
joint return, and the special test tests with regard to a taxpayer to determine the taxpayer's
eligibility to claim the dependency exemption, child tax credit, earned income credit, or child and
dependent care credit with regard to the child, or to use the head of household filing status.
