10/27/24, 3:44 PM H&R Block Mid Term Review Flashcards | Quizlet
EUNICE
H&R Block Mid Term Review WIOTRH 100% SURE
ANSWERS
What is the standard deduction for a $6200
taxpayer filing single?
What is the standard deduction for a $12400
taxpayer filing married filing joint?
What is the standard deduction for a $6200
taxpayer filing married filing separate?
What is the standard deduction for a $9100
taxpayer filing qualifying widow?
What is the standard deduction for a $9100
taxpayer filing head of household?
What does Form 1099-G provide? Certain government payments such as unemployment.
A reduction in the amount of income subject to tax. It varies based on the taxpayer's
What is a standard deduction?
filing status.
What is the amount of taxable income that $100,000
you can earn and still use the Tax Table?
1. filing status
What three factors determine the filing
2. age
requirements for nondependents?
3. gross income
1. Single
2. Married filing joint
What are the five filing status'? 3. Married filing separate
4. Qualifying widow
5. Head of household
How do you determine marital status? Marital status is determined on the last day of the tax year.
If the taxpayer is considered unmarried on 1. Single
the last day of the year what options do 2. Head of household
he/she have as a filing status? 3. Qualifying widow
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If the taxpayer is considered married on 1. Married filing join
the last day of the year, the taxpayer may 2. Married filing separate
file as?
Generally, the nondependent taxpayer would be required to file a tax return when
When is a nondependent taxpayer required
their gross income is equal to or greater than the sum of the taxpayer's standard
to file a tax return?
deduction and personal exemption amount.
If a person is filing married filing separately, When their gross income equals or exceeds the personal exemption amount ($3950
when are they required to file a tax return? for 2014).
Taxpayers filing as single who are 65 or $1550 (per condition)
older and/or blind are entitled to what
increased standard deduction.
Taxpayers filing as head of household who $1550 (per condition)
are 65 or older and/or blind are entitled to
what increased standard deduction.
Taxpayers filing as married who are 65 or $1200 (per condition)
older and/or blind are entitled to what
increased standard deduction.
Taxpayers filing as qualifying widow who $1200 (per condition)
are 65 or older and/or blind are entitled to
what increased standard deduction.
When the spouse:
When may a taxpayer filing married but
1. has no gross income
separate claim a spouse's personal
2. is not filing a return
exemption?
3. is not a dependent of another person
When the spouse:
When may a taxpayer with a nonresident
1. has no gross income
alien spouse claim the spouse's personal
2. is not filing a return
exemption?
3. is not a dependent of another person
1. Is their unearned income greater than $1000? If so, they must file.
2. Does their earned income exceed a specific threshold amount based on their
marital status, age, or blind? If so, then they must file.
3. Is their spouse filing MFS and itemizing deductions?
How do you determine if a dependent
AND
taxpayer is required to file?
Does the dependent taxpayer have at least $5 of gross income? If so, then they must
file.
4. Does their gross income exceed a specific threshold amount based on their
marital status, age, or blind? If so, then they must file.
When a married taxpayer wishes to file a The taxpayer should itemize deductions on their return as well because their
MFS return and their spouse itemizes standard deduction is reduced to $0.
deductions on their return, what should the
taxpayer do?
Is blindness a determining factor for gross NO
income filing requirements for
nondependents?
Is blindness a determining factor for gross Yes
income filing requirements for
dependents?
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EUNICE
H&R Block Mid Term Review WIOTRH 100% SURE
ANSWERS
What is the standard deduction for a $6200
taxpayer filing single?
What is the standard deduction for a $12400
taxpayer filing married filing joint?
What is the standard deduction for a $6200
taxpayer filing married filing separate?
What is the standard deduction for a $9100
taxpayer filing qualifying widow?
What is the standard deduction for a $9100
taxpayer filing head of household?
What does Form 1099-G provide? Certain government payments such as unemployment.
A reduction in the amount of income subject to tax. It varies based on the taxpayer's
What is a standard deduction?
filing status.
What is the amount of taxable income that $100,000
you can earn and still use the Tax Table?
1. filing status
What three factors determine the filing
2. age
requirements for nondependents?
3. gross income
1. Single
2. Married filing joint
What are the five filing status'? 3. Married filing separate
4. Qualifying widow
5. Head of household
How do you determine marital status? Marital status is determined on the last day of the tax year.
If the taxpayer is considered unmarried on 1. Single
the last day of the year what options do 2. Head of household
he/she have as a filing status? 3. Qualifying widow
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If the taxpayer is considered married on 1. Married filing join
the last day of the year, the taxpayer may 2. Married filing separate
file as?
Generally, the nondependent taxpayer would be required to file a tax return when
When is a nondependent taxpayer required
their gross income is equal to or greater than the sum of the taxpayer's standard
to file a tax return?
deduction and personal exemption amount.
If a person is filing married filing separately, When their gross income equals or exceeds the personal exemption amount ($3950
when are they required to file a tax return? for 2014).
Taxpayers filing as single who are 65 or $1550 (per condition)
older and/or blind are entitled to what
increased standard deduction.
Taxpayers filing as head of household who $1550 (per condition)
are 65 or older and/or blind are entitled to
what increased standard deduction.
Taxpayers filing as married who are 65 or $1200 (per condition)
older and/or blind are entitled to what
increased standard deduction.
Taxpayers filing as qualifying widow who $1200 (per condition)
are 65 or older and/or blind are entitled to
what increased standard deduction.
When the spouse:
When may a taxpayer filing married but
1. has no gross income
separate claim a spouse's personal
2. is not filing a return
exemption?
3. is not a dependent of another person
When the spouse:
When may a taxpayer with a nonresident
1. has no gross income
alien spouse claim the spouse's personal
2. is not filing a return
exemption?
3. is not a dependent of another person
1. Is their unearned income greater than $1000? If so, they must file.
2. Does their earned income exceed a specific threshold amount based on their
marital status, age, or blind? If so, then they must file.
3. Is their spouse filing MFS and itemizing deductions?
How do you determine if a dependent
AND
taxpayer is required to file?
Does the dependent taxpayer have at least $5 of gross income? If so, then they must
file.
4. Does their gross income exceed a specific threshold amount based on their
marital status, age, or blind? If so, then they must file.
When a married taxpayer wishes to file a The taxpayer should itemize deductions on their return as well because their
MFS return and their spouse itemizes standard deduction is reduced to $0.
deductions on their return, what should the
taxpayer do?
Is blindness a determining factor for gross NO
income filing requirements for
nondependents?
Is blindness a determining factor for gross Yes
income filing requirements for
dependents?
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