HR Block Test WQITH 100% SURE ANSWERS
A tax returner or claim for refund requiring a,$2,120
a paid tax return preparer to determine
eligibility for EITC, CTC/ODC/ ACTC,
AOTC, and the head of household filling
status may be subject to a maximum
penalty, totaling what amount for failure to
meet due diligence requirements if all four
are claimed on a single tax return?
the deduction for state and local income a. $10,000 ($5,000 if MFS).
taxes is limited to what amount?
A married couple who materially C. A qualified joint venture
participate in the operation of a jointly
owned business may elect for each spouse
to file their own Schedule C, with each
reporting their respective amounts of
income, loss, and deductions. This known as
what?
Stock owned by an individual would be a. Intangible personal, investment -use property
classified as what type of property?
Which of the following is not deductible on C. Federal taxes withheld.
Schedule A?
Which of the following types of property d. a copier purchased by a tax preparation office.
may be depreciated?
a taxpayer who actively participates in a a. 25,000
rental real estate activity may, in many
cases, deduct up to what amount of rental
losses against any other kind of income?
A sole proprietor who computes self- b. Schedule SE.
employment tax should be filling what
form?
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, An employee tells their employer how C. Form W-4.
much income tax to withold from their
taxable wages by completing what form?
The IRS may assess penalties on taxpayers d. All of the Above
for which of the folllowing?
Which of the following best describes a. all income from whatever source derived, unless excluded from taxation by law
gross income?
Which of the following best describes c. Income received for services, performed, including wages, commissions, tips, and
earned income? generally, farming and other business income.
Which of the following taxpayers is not d. Ron (66) and sue (64) have gross income of $ 25,250. they wish to file a joint return
required to file a federal tax return for
2019?
In 2019, Jennfier's (27) brother, jim (18), her c. Three
fiancee Steve(29) and her daughter, Kim (5)
lived with her for the entire year. Jennfier's
AGI is $27,800, Jim's AGI is $5,050, Steve
AGI is $4,0050, and Kim had no icome. Jim
and Kim did not provide over 50% of
steve's support. Jennifer quailties and files
as head of household in 2019. How many
qualifying dependents can jennfier claim
on her return?
Which of the following items is included in d. Unemployment compensation.
federal gross income?
Which of the following items is not B. Federal income tax refunds
included in federal gross income?
Which of the following taxpayers is not b. Elizabeth (68) has gross income of $12,250. she is single and has no dependents
required to file a federal income tax return
for 2019?
Mike is single and has a taxable income of c. $1,897.
$17,405. His amount of tax from the 2019 Tax
tables is
Adrian is married filing separatly, and has a c. $2,941.
taxable income of $26,100. His amount of
tax from the 2019 tax tables is
Which of the following is not one of the a. Gross income test.
five quailfying child tests a taxpayer must
meet their child to be considered their
dependent?
Marissa and lucius were married 18 years a. Head of household.
ago. They had one child, Matthew (13.)
luciuis pased away in 2015. Marissa did not
remary. Marissa and mathhew lived
together all year long, and no one else
lived with them. Matthew had no income in
2019. Marissa paid 100% of the cost of the
maintaining their home. What is the most
benefical 2019 filing status for Marissa?
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