Tax preparer Exam Questions With Complete Solutions
1040 Correct Answers A tax form filled out by an individual
and filed with the IRS that determines the amount of income tax
owed in a single year.
1040 A Correct Answers taxable income $100,000 or less;
adjustments to income are allowed; tax credits for child care &
dependent care are allowed
1040 EZ Correct Answers Simple tax return form, often filled
out by young people. With no dependent
1040 NR Correct Answers 1040 Non Resident Alien tax return
only for people that come from mexico to work with a permit.
1040 PR Correct Answers 1040 Puerto Rico only residents
from puerto rico
1040 X Correct Answers Form used to correct information and
explaining why you are changing what was reported on your
original return. You don't have to redo your entire return, either.
1095-A Correct Answers Private health coverage
1095-B Correct Answers State health coverage (medicaid,
chp+)
1095-C Correct Answers Employer-Provided Health Insurance
Offer and Coverage
, 1099 Form Correct Answers Shows how much you earned
during the year in income from interest, independent
contractor...
1099-G MISC Correct Answers
1099-INT Correct Answers a statement of the interest your
bank paid on your savings that year
2 taxpayers married on November 30. That same year, the
husband enrolled in an accredited college to further his career
and subsequently received a Form 1098-T, Tuition Statement.
The wife was employed with an income of $45,000 and paid for
the husband's education expenses. Based on their circumstances,
what is the correct method to report the education credit?
Correct Answers Taxpayers must file a joint return to claim an
education credit
4852 Correct Answers The ____ form is a substitute for the W-
2 form.
A form 8453 must be submitted to the IRS after acceptance of
an e-filed return when... Correct Answers An agent possessing
a Form 2848 electronically signs the return
A tax payer goes to a casino and wins $10,000. The casino
withholds $500 for federal income Taxes Correct Answers The
tax payer must report the winning and can claim the amount of
Federal income tax withheld on form 1040
1040 Correct Answers A tax form filled out by an individual
and filed with the IRS that determines the amount of income tax
owed in a single year.
1040 A Correct Answers taxable income $100,000 or less;
adjustments to income are allowed; tax credits for child care &
dependent care are allowed
1040 EZ Correct Answers Simple tax return form, often filled
out by young people. With no dependent
1040 NR Correct Answers 1040 Non Resident Alien tax return
only for people that come from mexico to work with a permit.
1040 PR Correct Answers 1040 Puerto Rico only residents
from puerto rico
1040 X Correct Answers Form used to correct information and
explaining why you are changing what was reported on your
original return. You don't have to redo your entire return, either.
1095-A Correct Answers Private health coverage
1095-B Correct Answers State health coverage (medicaid,
chp+)
1095-C Correct Answers Employer-Provided Health Insurance
Offer and Coverage
, 1099 Form Correct Answers Shows how much you earned
during the year in income from interest, independent
contractor...
1099-G MISC Correct Answers
1099-INT Correct Answers a statement of the interest your
bank paid on your savings that year
2 taxpayers married on November 30. That same year, the
husband enrolled in an accredited college to further his career
and subsequently received a Form 1098-T, Tuition Statement.
The wife was employed with an income of $45,000 and paid for
the husband's education expenses. Based on their circumstances,
what is the correct method to report the education credit?
Correct Answers Taxpayers must file a joint return to claim an
education credit
4852 Correct Answers The ____ form is a substitute for the W-
2 form.
A form 8453 must be submitted to the IRS after acceptance of
an e-filed return when... Correct Answers An agent possessing
a Form 2848 electronically signs the return
A tax payer goes to a casino and wins $10,000. The casino
withholds $500 for federal income Taxes Correct Answers The
tax payer must report the winning and can claim the amount of
Federal income tax withheld on form 1040
