Reference no: EM133627860

Questions

1. When filing a tax return for a deceased taxpayer, who will need to file Form 1310, Statement of Person Claiming Refund Due a Decease

a. Court-appointed personal representative.

b. Decedent's adult child who was not appointed as the personal representative.

c. Executor or administrator of the decedent's estate, as appointed or certified by the court.

d. Surviving spouse filing a joint return.

2. Kiri and Divina are registered domestic partners. Neither had dependents they could claim for 2022. What is Kiri's and Divina's correct and most favorable 2022 filing status on the federal return?

a. Single.

b. Married filing jointly.

c. Married filing separately,

d. Qualifying surviving spouse

3. Ada (18), is a dependent of her parents. She had interest income of $50 and wages of $5,800. What is Ada's 2022 federal standard deduction?

a. $1,150

b. $5,850

c. $6,200

d. $12,950

4. Vincent lives with his daughter, June. Vincent received $5,500 in social security benefits. He used $2,400 for rent, $1,000 for food, $1,500 for recreation, $500 for the doctor, and $100 for eyeglasses. What amount of support must June day to claim Vincent as a qualifying relative?

a. Less than $5,500

b. More than $2,400

c. More than $2,750

d. More than $5,500

5. Which taxpayer has a potential qualifying child that meets the age test? (Unless stated. none of these individuals are permanently or totally disabled.)

a. Alyden and Zuri are married and have a son, Caleb (25). Caleb is unmarried and a full-time student. Caleb earned $11.000, all from wages, and he did not provide more than half of his own support. Caleb lives on campus while school is in session. During the summer, Caleb lives with Aiyden and Zuri

b. Lexi (42) has a daughter, Josie (19), Josie Is unmarried and lived with Lexi all year. Josie decided to take a vear-long break from school before starting college. She worked part-time and earned $10,500, all from wages. She aid nor provide more than halt ot her own support

c. Omana (21) and her brother, BenjI (23), lived together all year. Benji is unmarried and a full-time student. Beni had no income and did not provide more than half of his own support.

d. Rohan (23) and his sister, Annie (25), lived together all year. Rohan and Anne are both unmarried. Anne is permanently and totally disabled. Annie had no income, and did not provide more than hail of her owl support

6. Terry and Sal divorced in 2019. During 2022, their son Nick lived with his mother, Terry, Terry's mother (Andrea, and Terry's best friend (Vanna) from January 1 to November 1. During that time, Nick Visited Sa every other weekend for a total of 40 nights. On November 2, Nick went to live with Sal for the rest of the year. After that time. Nick visited Terry. Andrea, and Vanna every other weekend for a total of 16 nights Terry's adjusted gross income (AGI) was $33,100, Andrea's AGI was $21,500, Vanna's AGI was $32,600, and Sal's AGI was $29,900. Who has the superior claim to Nick's dependency?

a. Andrea.

b. Sal.

c. Terry.

d. Vanna

7. If a taxpayer has investment income that exceeds a certain threshold, they are not eligible to claim the Earned Income Credit. For 2022, what is that threshold?

a. $3,650

b. $10,000

c. $10,300

d. $11,000

8. All of the following statements regarding the 2022 Additional Child Tax Credit are correct. EXCEPT?

a. The Additional Child Tax Credit Is a refundable credit.

b. The Additional Child Tax Credit is a nonrefundable credit.

c. Taxpavers must have an earned income of at least $2,500 to qualify.

d. The maximum Additional Child Tax Credit Is $1,500.

9. Paloma (63) shared a home all year with her son, Antonio (41), and Antonio's son, Danny (23). They were all U.S. citizens, lived in the U.S. all year, and all had social security numbers valid for employment. Paloma and Antonio worked full-time, Danny was a part-time student during the year; he took one class at the local community college. Danny also worked part-time and had wages of $6,800. No one else lived in the home, Paloma had earned income and an adjusted gross income of $23,459. She had no foreign income or investment income. Antonio had earned income and an adjusted gross income of $32,500. He had no foreign Income or investment income. Who, if anyone, is eligible to claim and receive the Earned income Credit?

a. Both Paloma and Antonio.

b. Either Paloma or Antonio but not both

c. Paloma only.

d. No one.

10. Braxton is single and has no qualifying child. His adjusted gross income is $13,800. In order to claim the Earned income credit, he must meet which of the following requirements.

a. He cannot be the dependent of another taxpayer.

b. He must be age 18 or older.

c. He must earn his Income as an employee. He cannot be self-employed

d. He may have either an ITIN or a social security number.

11. Jeff (55) and Tara (49) are filing jointly for 2022, Jeff earned $40,000, and Tara earned $2,500. Jeff may contribute up to $7,000 to his IRA for 2022. If Jeff contributes $5,000 to his IRA, how much can they contribute to Tara's IRA. for 2022?

a. $2,000

b. $2,500

c. $5,000.

d. $7,000

12. Rachelle (68) and Camille (66) are married and file a joint return. Their gross income (including one-half of their social security) for 2022 was $48,650. Up to what amount of their social security benefits may be taxable?

a. 0%

b. 50%

c. 85%

d. 100%

13. What is the tax treatment of Canadian social security benefits in the United States? Canadian social security benefits are:

a. Not taxable in the United States

b. Taxed as a pension using the general rule.

c. Taxed as a pension using the simplified method

d. The benefits are treated as paid under the social security legislation of the United States and reported as if they were United States social security benefits for a United States resident.

14. Leonard. a 51-vear-old singe taxpayer. earned $65.000 in wades. He is covered by an employer-sponsored retirement plan. What is his maximum allowable contribution to a traditional IRA for 2022?

a. $0

b. $6,000

c. $7,000

d. $27,000