Qualifying child test - Study guides, Class notes & Summaries
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HRB FINAL EXAM |Complete Questions with 100% Correct Answers
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HRB FINAL EXAM |Complete Questions with 100% Correct Answers 
What is the Difference between earned income and unearned income? 
Earned income is received for services performed. Examples are wages commissions, tips and generally farming and other business income . Taxable income other than that received for services performed. Unearned Income includes money received ro the investment of money or other property, such as interest, dividends, and royalties. It also includes pensions alimony, unemp...
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H&R Block 2023 Scenarios Questions With Complete Solutions
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Carolyn earned $52,000 as a full-time employee in 2018. Due to procrastination and denial, she did not prepare her 2018 income tax return until June 23, 2019. Carolyn did not file the return until August 1, 2019. She did not request an extension of time to file. Her return showed a balance due of $1,500. What is her penalty? correct answer: The IRS assesses a late filing penalty for four months. Carolyn's penalty is $300 [5% x 4 x $1,500]. 
 
Julie filed her 2018 income tax return on April 15,...
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RTRP - IRS REGISTERED TAX RETURN PREPARER TEST EXAM 2024 WITH ACCURATE SOLUTIONS
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1. 
For purposes of the Earned Income Credit, a qualifying child is a child who... 
 A. is over age 24 at the end of the calendar year and not permanently and totally disabled 
 B. has lived with you in the United States for at least 12 months 
 C. is filing a joint return 
 D. meets the relationship test 
EXPLANATION 
Answer: D - Meets the relationship test. 
 
2. 
A taxpayer should itemize deductions if the taxpayer’s total itemized deductions are... 
 A. less than the taxpayer’s interest ...
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HRB FINAL EXAM WITH COMPLETE SOLUTIONS
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HRB FINAL EXAM WITH COMPLETE SOLUTIONS 
What is the Difference between earned income and unearned income? - Answer ️️ -Earned 
income is received for services performed. Examples are wages commissions, tips and generally 
farming and other business income . Taxable income other than that received for services 
performed. Unearned Income includes money received ro the investment of money or other 
property, such as interest, dividends, and royalties. It also includes pensions alimony, 
unempl...
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HRB FINAL EXAM 2023-2024 COMPLETE QUESTIONS AND ANSWERS ASSURED A+.
- Exam (elaborations) • 23 pages • 2023
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HRB FINAL EXAM COMPLETE QUESTIONS AND ANSWERS ASSURED A+. 
What is the Difference between earned income and unearned income? - Answer 
Earned income is received for services performed. Examples are wages 
commissions, tips and generally farming and other business income . Taxable 
income other than that received for services performed. Unearned Income includes 
money received ro the investment of money or other property, such as interest, 
dividends, and royalties. It also includes pensions ali...
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H&R Block Income Tax Course Final Exam || All Questions & Answers (Graded 100%)
- Exam (elaborations) • 24 pages • 2023
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H&R Block Income Tax Course Final Exam || All Questions & Answers (Graded 100%) 
H&R Block Income Tax Course Final Exam || All Questions & Answers (Graded 100%) 
 
What is the Difference between earned income and unearned income? - ANSWER - Earned income is received for services performed. Examples are wages commissions, tips and generally farming and other business income . Taxable income other than that received for services performed. Unearned Income includes money received ro the investment ...
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Test Bank for Income Tax Fundamentals 2022, 40th Edition by Whittenburg
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Test Bank for Income Tax Fundamentals 2022 40e 40th Edition by Gerald E. Whittenburg; Martha Altus-Buller; Steven Gill. 
ISBN-13: 6386 
 
Full Chapters test bank included 
 
Chapter 1: The Individual Income Tax Return 
1-1 History and Objectives of the Tax System 
1-2 Reporting and Taxable Entities 
1-3 The Tax Formula for Individuals 
1-4 Who Must File 
1-5 Filing Status and Tax Computation 
1-6 Qualifying Dependents 
1-7 Economic Impact Payment and Recovery Rebate Credit 
1-10 Tax and the Inte...
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HRB FINAL EXAM 2023-2024 COMPLETE QUESTIONS AND ANSWERS ASSURED A+.
- Exam (elaborations) • 23 pages • 2023
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HRB FINAL EXAM COMPLETE QUESTIONS AND ANSWERS ASSURED A+. 
What is the Difference between earned income and unearned income? - Answer 
Earned income is received for services performed. Examples are wages 
commissions, tips and generally farming and other business income . Taxable 
income other than that received for services performed. Unearned Income includes 
money received ro the investment of money or other property, such as interest, 
dividends, and royalties. It also includes pensions ali...
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H&R Block Final review 2024 GRADED A
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Tony (28) and Adam (27) are cousins and lived in the same home throughout 2017. Adam only earned $2,500 in 2017. Tony earned $25,000 in 2017. 
 
What test does he meet? 
Adam meets the relationship and member of household test for Tony, since Adam lived with Tony the entire year. 
Tony may be able to claim Adam as a qualifying relative dependent. 
Note: Being cousins alone will not meet the relationship test for qualifying relative, because a cousin is not listed as a specific relative relations...
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H & R Block Income Tax Final Exam Review (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A
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H & R Block Income Tax Final Exam Review (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A 
 
Q: For MACRS purposes, you need to divide real property into two categories. What are they? 
 
 
Answer: 
Land, which is not depreciated, and structures, which are depreciated. 
 
 
 
 
Q: For tax purposes, when is a person's marital status determined? 
 
 
Answer: 
On the last day of the tax year, or the date of death. 
 
 
 
Q: How are deductible property expenses deter...
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