HR Block Income Tax Exams (Latest 2024/ 2025
Updates STUDY BUNDLE WITH COMPLETE
SOLUTIONS) Questions and Verified Answers|
100% Correct| Grade A
List 4 Due Diligence Req's - ANSWER1) Complete (forms)
2) Keep
3) Knowledge
4) Document
Earned income - ANSWERWages, tips, commissions, farming & other business
income. $ for services
Unearned income - ANSWERTaxable income including investment money, dividends,
rents, royalties, pensions, alimony, unemployment (not performing services)
Single filing requirements - ANSWER< 65 10,350
> 65 11,900
MFJ filing requirements - ANSWER<65. 20,700
>65. 21,950 (1 spouse)
>65. 23200 (2 spouses)
MFS Filing requirement - ANSWER4050
Dependent filing requirement - ANSWER$1050 unearned income
HOH FILING REQUIREMENT - ANSWER<65 13,350
>65 14900
When is marital status determined? - ANSWERLast day of tax year.
Or
Date of death if one spouse died
How much is added Ro standard deduction if taxpayer is 65+ or blind? -
ANSWER1250 Married & QW
1550 Single & HOH
Personal exemption amount? - ANSWER4050
2amounts added to decide gross income filing requirements - ANSWERStandard
Deduction + Personal exemption
5 tests for a Qualifying Child - ANSWER1) Relationship
, 2)Age
3) Residency
4) Support
5) Joint Return (Child not filing joint return)
What are the tie-breaker rules? - ANSWER1)Parent
2)Parent child slept at house most
3) Parent with highest AGI
4) Person with highest AGI
4 tests for Qualifying Relative - ANSWER1) Relationship or member of household
2)Gross Income (<4050)
3)Support (must provide + 1/2 their Support)
4) Nit a QC
Child tax credit is worth - ANSWER1000
Requirements to claim CTC - ANSWER1) must have a QC
2) QC must be <17
3) QC must be claimed on return
4) Cituzen, resident or national
Penalty if preparer fails to meet CTC due diligence requirements - ANSWER$510 for
each credit for each return
What filing status can you not use for credits ever? - ANSWERMFS
How can you qualify for HOH? - ANSWER1) unmarried or considered unmarried on
last day of tax year
2) QC or QR
3) Taxpayer maintains household for QC/QR or patent that they can claim
Costs of maintaining home? - ANSWERRent
Mort interest
RE taxes
INS - rent or homeowners
Repairs
Utilities
Food
Requirements for Qualifying Widower - ANSWER1) taxpayers spouse died in either of
the 2 years prior to the current tax year.
2) taxpayer paid >1/2 cost of maintaining home of kids etc..
What firm would a custodial Parent use to relinquish rights for that year to claim
child so that other parent can claim that child? - ANSWER8332
Updates STUDY BUNDLE WITH COMPLETE
SOLUTIONS) Questions and Verified Answers|
100% Correct| Grade A
List 4 Due Diligence Req's - ANSWER1) Complete (forms)
2) Keep
3) Knowledge
4) Document
Earned income - ANSWERWages, tips, commissions, farming & other business
income. $ for services
Unearned income - ANSWERTaxable income including investment money, dividends,
rents, royalties, pensions, alimony, unemployment (not performing services)
Single filing requirements - ANSWER< 65 10,350
> 65 11,900
MFJ filing requirements - ANSWER<65. 20,700
>65. 21,950 (1 spouse)
>65. 23200 (2 spouses)
MFS Filing requirement - ANSWER4050
Dependent filing requirement - ANSWER$1050 unearned income
HOH FILING REQUIREMENT - ANSWER<65 13,350
>65 14900
When is marital status determined? - ANSWERLast day of tax year.
Or
Date of death if one spouse died
How much is added Ro standard deduction if taxpayer is 65+ or blind? -
ANSWER1250 Married & QW
1550 Single & HOH
Personal exemption amount? - ANSWER4050
2amounts added to decide gross income filing requirements - ANSWERStandard
Deduction + Personal exemption
5 tests for a Qualifying Child - ANSWER1) Relationship
, 2)Age
3) Residency
4) Support
5) Joint Return (Child not filing joint return)
What are the tie-breaker rules? - ANSWER1)Parent
2)Parent child slept at house most
3) Parent with highest AGI
4) Person with highest AGI
4 tests for Qualifying Relative - ANSWER1) Relationship or member of household
2)Gross Income (<4050)
3)Support (must provide + 1/2 their Support)
4) Nit a QC
Child tax credit is worth - ANSWER1000
Requirements to claim CTC - ANSWER1) must have a QC
2) QC must be <17
3) QC must be claimed on return
4) Cituzen, resident or national
Penalty if preparer fails to meet CTC due diligence requirements - ANSWER$510 for
each credit for each return
What filing status can you not use for credits ever? - ANSWERMFS
How can you qualify for HOH? - ANSWER1) unmarried or considered unmarried on
last day of tax year
2) QC or QR
3) Taxpayer maintains household for QC/QR or patent that they can claim
Costs of maintaining home? - ANSWERRent
Mort interest
RE taxes
INS - rent or homeowners
Repairs
Utilities
Food
Requirements for Qualifying Widower - ANSWER1) taxpayers spouse died in either of
the 2 years prior to the current tax year.
2) taxpayer paid >1/2 cost of maintaining home of kids etc..
What firm would a custodial Parent use to relinquish rights for that year to claim
child so that other parent can claim that child? - ANSWER8332
