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VITA Tax Basics - 2024 Exam Questions and Complete Solutions Graded A+
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VITA Tax Basics - 2024 Exam Questions and Complete Solutions Graded A+
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VITA Tax Basics - 2024Exam Questions and
Complete Solutions
Graded A+
Yes
Lucy's income is above the $12,950 standard deduction for a single taxpayer - Answer: Lucy is 36 years
old and single, and her gross income is $20,000. Is Lucy required to file a tax return?
No
Henrietta and Javier's combined income of $16,000 is less than the $25,900 standard deduction for
married filing jointly - Answer: Henrietta and Javier are married and plan to file a join return. Henrietta is
67 and had a gross income of $11,000 for the tax year. Javier is 66 and his gross income was $5,000 for
the year. Do they need to file a tax return?
D. Interest - Answer: Which of the following is considered taxable income?
A. Child Support
B. Insurance Proceeds
C. Veterans Benefits
D. Interest
Mrs. Fulton, 70, who is single and whose only sources of income are her pension and investments. Her
income was less than $10,000
,Mrs. Harlan can be claimed as a dependent on her son's return, so she must use Chart B. Mr. Emmet
must use Chart C - Answer: Which of the following individuals could use Chart A to determine if they
must file a tax return?
A. Mrs. Harlan, 68, who is recently widowed and supported by her son
B. Mrs. Fulton, 70, who is single and whose only sources of income are her pension and investments.
Her income was less than $10,000.
C. Mr. Emmet, 34, a stay-at-home dad filing Head of Household, whose income is $6,000 and who
received Form 1095-A showing Advanced Premium Tax Credit (APTC).
True
Bob's income is larger than the $12,950 standard deduction for a single taxpayer - Answer: True or
False? Bob is 27 years old. No one can claim him as a dependent. His gross income was $17,000 during
the tax year. Based only on this information, Bob is required to file a tax return.
False
Janet & Harry's income is not larger than the $25,900 standard deduction for married filing jointly -
Answer: True or False? Janet and Harry are married, file jointly, and lived together all year. During the
tax year, Janet turned 66 and Harry turned 64. Their gross income was $18,000. Based only on this
information, they are required to file a tax return.
True
Juanita's income is larger than the $25,100 standard deduction for a Qualifying Widow(er) - Answer:
True or False? Juanita can file as a Qualifying Widow(er). She is 47 years old. Her gross income was
$27,000. Based only on this information, she is required to file a tax return.
B. Begin a return to determine if filing a tax return would benefit the taxpayer - Answer: What should
you do if a taxpayer is not required to file a tax return, and you are uncertain if they will benefit from
filing?
,A. Send the taxpayer to a professional tax preparer
B. Begin a return to determine if filing a tax return would benefit the taxpayer
C. Tell the taxpayer not to file a tax return
C. Social Security card - Answer: Which of the following can be used to verify a taxpayer's Social Security
number and correct name spelling?
A. Driver's license
B. Passport
C. Social Security card
D. Birth certificate
D. Both A and B - Answer: For individuals who do not bring their original or a copy of their Social Security
card, you may accept which of the following:
A. An SSA letter or a Form SSA-1099 statement
B. An ITIN card or letter
C. Driver's license
D. Both A and B
True - Answer: True or False? It is your responsibility as a tax preparer to enter each Social Security
number correctly on the tax return.
True - Answer: True or False? If a taxpayer wants to know about the Presidential Election Campaign
Fund they can find that information in Publication 17.
C. Both Larry and Zelda are required to file
Taxpayers of any age who use the Married Filing Separately status must file a return if they had gross
income of $5 or more - Answer: Larry and Zelda are married but will not file a joint return. Both are
, under 65. Larry's gross income from wages is $30,150, and Zelda's is $4,100. Which of the following is
true?
A. Just Larry is required to file
B. Just Zelda is required to file
C. Both Larry and Zelda are required to file
D. Neither Larry nor Zelda must file
B. No
Trudy's income is less than the $21,150 standard deduction for a Head of Household ($19,400) taxpayer
older than 65 ($1,750) - Answer: Trudy, 66, qualifies for Head of Household filing status and had $10,900
in gross income. Is she required to file a return?
A. Yes
B. No
C. Depends on her net income
D. B and C
Most taxpayers must use Form 1040, but Form 1040-SR may be used by taxpayers who are age 65 or
older at the end of the tax year. Form 1040-NR is used only by non-resident aliens who must file a tax
return - Answer: Depending on specific tax situations, standard taxpayers can file using which of the
following?
A. Form 1040-NR
B. Form 1040-SR
C. Form 1040
D. B and C
No
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