Enrolled Agent Part 1 2025/2026 Exam
Questions and Verified Answers |
Already Graded A+
1040EZ - 🧠 ANSWER ✔✔1. Taxable income < $100,000
2. No SE income (partnership, S-corp shareholder, beneficiary of
estate/trust)
3. Under age 65 and not blind
4. No HH or QW filing status
5. No itemized deductions
6. No adjustments to income
7. No dependents
,8. No credits other than Earned Income Credit
1040A - 🧠 ANSWER ✔✔1. Taxable income < $100,000
2. No SE income (partnership, S-corp shareholder, beneficiary of
estate/trust)
3. No itemized deductions
4. No health coverage tax credit or adoption credit
5. No health savings account distributions from IRA
1040 - 🧠 ANSWER ✔✔1. Taxable income >$100,000
2. SE income (partnership, S-corp shareholder, estate/trust)
3. Dividends on insurance policies if they exceed the total of all net
premiums you paid for the contract
4. Itemized deductions
5. Health coverage tax credit or adoption credit
6. Health savings account distributions from IRA
7. Must repay the first-time homebuyer credit
8. Foreign income, foreign assets or foreign distributions
,9.Owe any various additional taxes
10. Debtor in a bankruptcy case
Form 4868 - 🧠 ANSWER ✔✔Application for Automatic Extension
-for 6 months
(can also be done by writing a letter to IRS)
-automatic 2 month extension for being outside of US.
True or False: If you would like an extension and you pay $1 of the tax you
estimate you will owe using a debit/credit card, you will not need to file an
extension form. - 🧠 ANSWER ✔✔True.
If you pay part ($1 minimum) or all of the tax you estimate you will owe
using a debit/credit card, you will not need to file an extension form, such
as Form 4868. Your payment will act as the extension.
https://www.irs.gov/uac/Pay-by-debit-or-credit-card-when-you-e-file
Schedule B - 🧠 ANSWER ✔✔Interest and Ordinary Dividends
-Ordinary Dividends are taxed as ordinary income.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Schedule D - 🧠 ANSWER ✔✔Capital Gains and Losses
-filed along with Form 8949
Capital Gains Losses - 🧠 ANSWER ✔✔1. If your capital losses exceed your
capital gains, the excess can be deducted on your tax return and used to
reduce other income, such as wages, up to an annual limit of $3,000, or
$1,500 if you are married filing separately.
2. Capital losses in excess of $3000 may be carried forward indefinitely.
3. Capital losses can be deducted on the sale of investment property but
NOT on the sale of property for personal use.
Schedule E - 🧠 ANSWER ✔✔Supplemental Income and Loss
Form 1065 - 🧠 ANSWER ✔✔U.S. Return of Partnership Income
Form S - 🧠 ANSWER ✔✔US Corporation Income Tax Return
US Income Tax Return for an S Corporation
Who must file? - 🧠 ANSWER ✔✔1. SE income of $400
2. To claim a credit or refund of any taxes paid
3. S under 65 $10, or older $11,850
Questions and Verified Answers |
Already Graded A+
1040EZ - 🧠 ANSWER ✔✔1. Taxable income < $100,000
2. No SE income (partnership, S-corp shareholder, beneficiary of
estate/trust)
3. Under age 65 and not blind
4. No HH or QW filing status
5. No itemized deductions
6. No adjustments to income
7. No dependents
,8. No credits other than Earned Income Credit
1040A - 🧠 ANSWER ✔✔1. Taxable income < $100,000
2. No SE income (partnership, S-corp shareholder, beneficiary of
estate/trust)
3. No itemized deductions
4. No health coverage tax credit or adoption credit
5. No health savings account distributions from IRA
1040 - 🧠 ANSWER ✔✔1. Taxable income >$100,000
2. SE income (partnership, S-corp shareholder, estate/trust)
3. Dividends on insurance policies if they exceed the total of all net
premiums you paid for the contract
4. Itemized deductions
5. Health coverage tax credit or adoption credit
6. Health savings account distributions from IRA
7. Must repay the first-time homebuyer credit
8. Foreign income, foreign assets or foreign distributions
,9.Owe any various additional taxes
10. Debtor in a bankruptcy case
Form 4868 - 🧠 ANSWER ✔✔Application for Automatic Extension
-for 6 months
(can also be done by writing a letter to IRS)
-automatic 2 month extension for being outside of US.
True or False: If you would like an extension and you pay $1 of the tax you
estimate you will owe using a debit/credit card, you will not need to file an
extension form. - 🧠 ANSWER ✔✔True.
If you pay part ($1 minimum) or all of the tax you estimate you will owe
using a debit/credit card, you will not need to file an extension form, such
as Form 4868. Your payment will act as the extension.
https://www.irs.gov/uac/Pay-by-debit-or-credit-card-when-you-e-file
Schedule B - 🧠 ANSWER ✔✔Interest and Ordinary Dividends
-Ordinary Dividends are taxed as ordinary income.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY
STATEMENT. ALL RIGHTS RESERVED
3
, Schedule D - 🧠 ANSWER ✔✔Capital Gains and Losses
-filed along with Form 8949
Capital Gains Losses - 🧠 ANSWER ✔✔1. If your capital losses exceed your
capital gains, the excess can be deducted on your tax return and used to
reduce other income, such as wages, up to an annual limit of $3,000, or
$1,500 if you are married filing separately.
2. Capital losses in excess of $3000 may be carried forward indefinitely.
3. Capital losses can be deducted on the sale of investment property but
NOT on the sale of property for personal use.
Schedule E - 🧠 ANSWER ✔✔Supplemental Income and Loss
Form 1065 - 🧠 ANSWER ✔✔U.S. Return of Partnership Income
Form S - 🧠 ANSWER ✔✔US Corporation Income Tax Return
US Income Tax Return for an S Corporation
Who must file? - 🧠 ANSWER ✔✔1. SE income of $400
2. To claim a credit or refund of any taxes paid
3. S under 65 $10, or older $11,850
