H&R Block Specialist Test || Most Recent Exam 2026-2027
Actual Complete Real Exam Questions And Correct
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Melina purchased a $10,000 corporate bond on July 1, 2018.
The bond has a stated interest rate of 5%, payable annually on
November 1. Since Melina purchased the bond between interest
payment dates the interest income SCH
B. Interest and Ordinary Dividends will be reported as
_____________. - ANSWERS -A. $251, the amount of interest
earned from July 1 through December 31.
B. $332, her proportionate share of the interest as taxable
income. No further adjustment is necessary
C. $500, the full interest payment, then minus $332, the
amount of accrued interest, as an adjustment
D. $500, the entire interest payment. No further adjustment is
necessary, as the amount of accrued interest was added to
Melina's basis at the time of purchase. Answer: C
Donald (66) and Leah (62) file MFJ. Their income for 2018 is:
Donald - $13,876 - Social Security Benefits
Leah - $15,000 - Wages
Joint - $510 - Taxable interest income
,How much of Donald's social security income may be taxable? -
ANSWERS -A.
$0
B. $6,938
C. $13,876
D.
$22,448
Answer: A
In June 2017, Bill, a single taxpayer, purchased a home for
$187,000. Later that
year, he added a new room at a cost of
$28,400.
In May 2018, he sold the house for $473,000. The home served
as his primary
residence for the entire time that he owned it. Bill's taxable gain
on the sale is
________________. - ANSWERS -A. $0
B. $7,600
C. $257,600
D.
$286,000
Answer: C
Samuel (28), single taxpayer has earned income of $13,690. He
lived in Kansas
City, MO all year. He cannot be claimed as a dependent on
someone else's
,2018 tax return. What is the max amount Samuel may claim
for the Earned
Income Tax Credit (EITC)? -
ANSWERS -A. $0
B.
$122
C. $126
D. $160
Answer:
B
In 2018,Raj. a self-employed consultant, spent $4,500 for
qualifying health coverage that he purchased directly from an
insurance company. He is not eligible to be covered under any
other insurance plan. His net profit from his business and the
amount used to figure his SE tax, was $68,000. He had no other
earned income. How much can Raj deduct as an adjustment for
SE health insurance? - ANSWERS -A. $0
B. $2,250
C. $3,750
D.
$4,500
Answer: D
All of the following are reported on SCH 1, line 21 EXCEPT: -
ANSWERS -A.
Fees Received for services as
a juror
, B. Prizes and
awards
C. Self-employment
income
D. Hobby
income
Answer:
C
Janelle (32) is single and has self-only coverage. Assuming she
meets all requirements, what is the most she can contribute to
a health savings account for 2018? - ANSWERS -A. $2,600
B. $3,450
C. $4,450
D.
$6,900
Answer: B
A taxpayer must meet all of the following requirements to claim
a deduction for
moving expenses EXCEPT: - ANSWERS -A. A member of the
Armed Forces on
active
duty
B. Cannot have any expenses
reimbursed
C. Due to a military
order
Actual Complete Real Exam Questions And Correct
Answers (Verified Answers) Already Graded
A+ | Guaranteed Success!! | Newest Exam |
Just Released!!
Melina purchased a $10,000 corporate bond on July 1, 2018.
The bond has a stated interest rate of 5%, payable annually on
November 1. Since Melina purchased the bond between interest
payment dates the interest income SCH
B. Interest and Ordinary Dividends will be reported as
_____________. - ANSWERS -A. $251, the amount of interest
earned from July 1 through December 31.
B. $332, her proportionate share of the interest as taxable
income. No further adjustment is necessary
C. $500, the full interest payment, then minus $332, the
amount of accrued interest, as an adjustment
D. $500, the entire interest payment. No further adjustment is
necessary, as the amount of accrued interest was added to
Melina's basis at the time of purchase. Answer: C
Donald (66) and Leah (62) file MFJ. Their income for 2018 is:
Donald - $13,876 - Social Security Benefits
Leah - $15,000 - Wages
Joint - $510 - Taxable interest income
,How much of Donald's social security income may be taxable? -
ANSWERS -A.
$0
B. $6,938
C. $13,876
D.
$22,448
Answer: A
In June 2017, Bill, a single taxpayer, purchased a home for
$187,000. Later that
year, he added a new room at a cost of
$28,400.
In May 2018, he sold the house for $473,000. The home served
as his primary
residence for the entire time that he owned it. Bill's taxable gain
on the sale is
________________. - ANSWERS -A. $0
B. $7,600
C. $257,600
D.
$286,000
Answer: C
Samuel (28), single taxpayer has earned income of $13,690. He
lived in Kansas
City, MO all year. He cannot be claimed as a dependent on
someone else's
,2018 tax return. What is the max amount Samuel may claim
for the Earned
Income Tax Credit (EITC)? -
ANSWERS -A. $0
B.
$122
C. $126
D. $160
Answer:
B
In 2018,Raj. a self-employed consultant, spent $4,500 for
qualifying health coverage that he purchased directly from an
insurance company. He is not eligible to be covered under any
other insurance plan. His net profit from his business and the
amount used to figure his SE tax, was $68,000. He had no other
earned income. How much can Raj deduct as an adjustment for
SE health insurance? - ANSWERS -A. $0
B. $2,250
C. $3,750
D.
$4,500
Answer: D
All of the following are reported on SCH 1, line 21 EXCEPT: -
ANSWERS -A.
Fees Received for services as
a juror
, B. Prizes and
awards
C. Self-employment
income
D. Hobby
income
Answer:
C
Janelle (32) is single and has self-only coverage. Assuming she
meets all requirements, what is the most she can contribute to
a health savings account for 2018? - ANSWERS -A. $2,600
B. $3,450
C. $4,450
D.
$6,900
Answer: B
A taxpayer must meet all of the following requirements to claim
a deduction for
moving expenses EXCEPT: - ANSWERS -A. A member of the
Armed Forces on
active
duty
B. Cannot have any expenses
reimbursed
C. Due to a military
order
