1. Rebecca's most beneficial allowable filing status is Head of Household. - false
2. Rebecca has $_______ in qualifying child care expenses for the child and dependent care credit.. -
2500
3. Pat and Terri are only eligible to claim the child tax credit on their 2020 tax return. - false
4. The...
VITA 1. Rebecca's most beneficial allowable filing status is Head of Household. - ✔✔false 2. Rebecca has $_______ in qualifying child care expenses for the child and dependent care credit.. - ✔✔2500 3. Pat and Terri are only eligible to claim the child tax credit on their 2020 tax return. - ✔✔false 4. The taxable amount of Pat's unemployment compensation is $_________? - ✔✔3300 5. Medicaid waiver payments can be considered earned income for the computation of the earned income credit. - ✔✔true 6. Andrew's HSA deduction amount on Form 8889, Part I, line 13 is $3,000. - ✔✔False 7. The HSA contribution made by Andrew's employer will be shown in Box 12 on his Form W -2 with the following: - ✔✔W 8. The over -the-counter allergy medication is a qualified medical expense for HSA purposes. - ✔✔true 9. Barbara and Claire can make an agreement on who can claim Molly as a dependent. - ✔✔false 10. Jenny is eligible for earned income credit, but can allow Claire to claim the credit. - ✔✔false 11. Robert is eligible to claim the donation to his friend's GoFundMe account as a charitable contribution. - ✔✔false 12. Robert qualifies for an above -the-line charitable contribution adjustment of $300 on his 2020 tax return if he chooses not to itemize. - ✔✔false 13. Carly can claim $3,960 as a student loan interest deduction on Form 1040, Schedule 1. - ✔✔false 14. Carly is eligible to deduct $250 as an adjustment to income on Form 1040, Schedule 1 for qualified educator expenses. - ✔✔false 15. The Franklins can use $ ___________ of qualified child care expenses to calculate the child and dependent care credit. - ✔✔6000 false 16. The refundable amount of the American opportunity credit located on Form 8863, Education Credit is: - ✔✔918 17. The Franklins' Form 8962, Premium Tax Credit, shows they are entitled to a net premium tax credit on their 2020 tax return. - ✔✔true 18. The Franklins can claim a recovery rebate credit of $1,200 for Christina on their 2020 tax return. - ✔✔false 19. What is the amount of the earned income credit on the Franklins' Form 1040? - ✔✔not 538 0 464 5920 20. The Kennedys' standard deduction for tax year 2020 is: - ✔✔not 24800 26100 27400 28700
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