Qualifying child tests - Study guides, Class notes & Summaries
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HR Block 2023 Scenarios Exam Questions and Answers
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HR Block 2023 Scenarios Exam Questions and Answers 
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? - ANS ️️ The IRS assesses a late filing penalty for four months. 
Carolyn's penalty is $300 [5% x 4 x $1,500]. 
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H&R Block Final Exam And Answers Graded A+ 2024.
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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? - Answer 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 relati...
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H&R Block Final review|Graded A+
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H&R Block Final review|Graded A+ 
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 list...
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H&R Block Midterm Review Questions with Complete Solutions
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H&R Block Midterm Review Questions 
 
with Complete Solutions 
 
Which of the following is considered earned income? C a) Interest from a bank 
b) Unemployment compensation 
c) Income from farming 
d) Gambling winnings 
 
The tax on income that comes entirely from wages under $100,000 is determined according to 
the: A a) Tax Tables 
b) Tax Computation Worksheet 
c) Qualified Dividends and Capital Gain Tax Worksheet 
d) Schedule D Tax Worksheet 
 
Which of the following shows these numbers round...
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H&R Block Income Tax Test Scenarios || Questions & Answers (100% Verified)
- Exam (elaborations) • 12 pages • 2023
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H&R Block Income Tax Test Scenarios || Questions & Answers (100% Verified) 
H&R Block Income Tax Test Scenarios || Questions & Answers (100% Verified) 
 
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? - ANSWER - The IRS ...
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HR BLOCK FINAL TEST - ACTUAL EXAM QUESTIONS WITH CORRECT ANSWERS AND RATIONALES UPDATED 2024/2025 (100% Correct)
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HR BLOCK FINAL TEST - ACTUAL EXAM QUESTIONS WITH CORRECT ANSWERS AND RATIONALES UPDATED 2024/2025 (100% Correct) the deduction for state and local income taxes is limited to what amount? - ANSWER-a. 
$10,000 ($5,000 if MFS). 
A married couple who materially 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? - ANSWERC. A qualified joint ...
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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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HRB FINAL EXAM SOLVED 100% CORRECT
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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, unemployment compensation and other income that is not earn...
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H&R Block Exam Review with Guaranteed Accurate Answers
- Exam (elaborations) • 12 pages • 2024
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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? - correct answer 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 ...
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HRB-07 Earned Income Credit exam questions and answers
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Investment Income 
Includes INTEREST, DIVIDENDS, CAPITAL GAINS and other types of DISTRIBUTIONS. 
See IRS Publication 550, Investment Income and Expenses (Including Capital Gains and Losses). 
 
 
 
Nonrefundable Credit 
A credit which CANNOT EXCEED the taxpayer's tax liability. 
 
 
 
Refundable Credit 
A credit for which the IRS will send the taxpayer a REFUND for any amount in EXCESS of the taxpayer's tax liability. 
 
 
 
Credits vs. Deductions 
• Deductions reduce the amount of INCOME t...
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