INTUIT ACADEMY TAX LEVEL 1 335 2026
STUDY GUIDE COMPLETE QUESTIONS AND
SOLUTIONS
◉ Adjusted Gross Income (AGI). Answer: Gross income minus
above-the-line deductions; used to determine eligibility for many tax
benefits.
◉ Standard Deduction Amounts (2024). Answer: Single $13,850;
MFJ $27,700; MFS $13,850; HOH $20,800; QW $27,700.
◉ Itemized Deductions Overview. Answer: Mortgage interest; state
and local taxes (SALT) cap $10,000; charitable contributions;
medical expenses (7.5% of AGI floor).
◉ Other Adjustments & Deductions. Answer: Alimony paid (pre-
2019); moving expenses for military; deductible portion of self-
employment tax.
◉ Exemptions and Dependents. Answer: Personal exemptions
eliminated; child tax credits replace dependency exemptions.
STUDY GUIDE COMPLETE QUESTIONS AND
SOLUTIONS
◉ Adjusted Gross Income (AGI). Answer: Gross income minus
above-the-line deductions; used to determine eligibility for many tax
benefits.
◉ Standard Deduction Amounts (2024). Answer: Single $13,850;
MFJ $27,700; MFS $13,850; HOH $20,800; QW $27,700.
◉ Itemized Deductions Overview. Answer: Mortgage interest; state
and local taxes (SALT) cap $10,000; charitable contributions;
medical expenses (7.5% of AGI floor).
◉ Other Adjustments & Deductions. Answer: Alimony paid (pre-
2019); moving expenses for military; deductible portion of self-
employment tax.
◉ Exemptions and Dependents. Answer: Personal exemptions
eliminated; child tax credits replace dependency exemptions.
