H&R Block Midterm Review Latest Update 2024- 2025 Questions and 100% Verified Correct Answers Guaranteed A+
Assuming all other requirements are met, how long may an eligible surviving spouse file
as a qualifying widow(er)? B - CORRECT ANSWER: a) One year.
b) Two years.
c) Three years.
d) Five years.
For 2017, how much is the standard deduction for a single taxpayer? B - CORRECT
ANSWER: a) $4,050
- $6,350
- $9,350
- $12,700
For 2017, what is the exemption amount for each qualifying child? C - CORRECT
ANSWER: a) $1,000
- $3,050
- $4,050
- $6,350
For 2017, what is the gross income filing requirement for a single taxpayer under the
age of 65? A - CORRECT ANSWER: a) $10,400
- $11,950
- $20,800
- $23,300
For 2017, what is the standard deduction for the head of household filing status? C -
CORRECT ANSWER: a) $4,050
- $6,350
- $9,350
- $12,700
For tax purposes, when is a person's marital status determined? D - CORRECT
ANSWER: a) On the first day of the tax year.
b) On the taxpayer's birthday.
c) On the day the person files their tax return.
d) On the last day of the tax year.
How much is the Child Tax Credit worth? A - CORRECT ANSWER: a) $1,000 per
qualifying child.
- $3,000 per qualifying child.
- $4,050 per qualifying child. 1 / 2
- $5,000 per qualifying child.
Schedule B is required when interest income exceeds which of the following
thresholds? B - CORRECT ANSWER: a) $1,000
- $1,500
c) Schedule B is always required.
d) Schedule B is never required.
Tax-exempt interest is: C - CORRECT ANSWER: a) Taxable and reportable.
b) Not required to be reported.
c) Nontaxable, but reportable.
d) Nontaxable and not reportable.
Taxpayers who are blind and/or age 65 or older are eligible for a higher: B - CORRECT
ANSWER: a) Personal exemption amount.
b) Standard deduction.
c) Earned Income Tax Credit.
d) Medical expense deduction
Taxpayers who have any financial interest in, or signature authority over, a financial account (such as a bank account, securities account, or brokerage account) located in a foreign country may have to file: A - CORRECT ANSWER: a) FinCEN Form 114
b) Form 1116.
c) Form 6251.
d) Form 8275.
Taxpayers who receive Form 1099-DIV showing that they received qualified dividends must complete which of the following forms to compute their tax? D - CORRECT
ANSWER: a) Schedule J.
b) Schedule B.
c) Schedule D Tax Worksheet.
d) Qualified Dividends and Capital Gain Tax Worksheet
The following three factors determine the filing requirement for nondependents: B -
CORRECT ANSWER: a) Marital status, age, and residency
b) Marital status, age, and gross income
c) Marital status, age, and taxable income
d) Marital status, age, and total deductions
The head of household filing status requires that a taxpayer maintain a household for: A
- CORRECT ANSWER: a) A qualifying child, qualifying relative, or a parent whom the
taxpayer is allowed to claim as an exemption on their tax return
b) At least one other person
c) A beloved family pet
d) Maintaining a household for another person is not a requirement of the HOH filing
status.
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