INTUIT TAX 1 EXAM QUESTIONS WITH
CORRECT ANSWERS 2026
The are _________ filing statuses. - CORRECT ANSWER - Five.
Single
Married Filing Jointly
Married Filing Separately
Head of Household
Qualifying Widow(er)
Which is a non-deductible business expense?
investments made in your business
costs of goods sold
family vacation
employees' pay - CORRECT ANSWER - family vacation
The self-employed health insurance deduction is limited to the net self-employment profit
shown on the return reduced by the deduction for ____________ of the self-employment tax. -
CORRECT ANSWER - one-half
Which is considered an adjustment to Gross Income?
Moving Expense
Employee Wages
, Municipal bond interest
Workers' compensation payments received as compensation for personal injury or sickness -
CORRECT ANSWER - Moving Expense
short-gains - CORRECT ANSWER - gains on assets that you have held for one year or less.
______________ is used to offset income and payroll taxes for low-income workers and to
provide an incentive to work. - CORRECT ANSWER - Earned Income Tax Credi
To satisfy the Substantial Presence Test, how many minimum days (in the current year) must you
be physically present in the United States? - CORRECT ANSWER - 31 days
Which is not a common tax credit? - CORRECT ANSWER - American Family Credit
Which is not considered a gambling winning? - CORRECT ANSWER - games of chance
Ordinary dividends are taxed at the same rate as __________ income tax rate. - CORRECT
ANSWER - ordinary
Social Security benefits can be taxed to a maximum of ___________% based on the
beneficiary's annual income - CORRECT ANSWER - 85
Taxable interest is reported on - CORRECT ANSWER - Form 1099-INT
Distributions from HSA, Archer MSA, or MS MSA are non-taxable when
_________________________________________. - CORRECT ANSWER - spent for qualified
medical expenses of your dependent
CORRECT ANSWERS 2026
The are _________ filing statuses. - CORRECT ANSWER - Five.
Single
Married Filing Jointly
Married Filing Separately
Head of Household
Qualifying Widow(er)
Which is a non-deductible business expense?
investments made in your business
costs of goods sold
family vacation
employees' pay - CORRECT ANSWER - family vacation
The self-employed health insurance deduction is limited to the net self-employment profit
shown on the return reduced by the deduction for ____________ of the self-employment tax. -
CORRECT ANSWER - one-half
Which is considered an adjustment to Gross Income?
Moving Expense
Employee Wages
, Municipal bond interest
Workers' compensation payments received as compensation for personal injury or sickness -
CORRECT ANSWER - Moving Expense
short-gains - CORRECT ANSWER - gains on assets that you have held for one year or less.
______________ is used to offset income and payroll taxes for low-income workers and to
provide an incentive to work. - CORRECT ANSWER - Earned Income Tax Credi
To satisfy the Substantial Presence Test, how many minimum days (in the current year) must you
be physically present in the United States? - CORRECT ANSWER - 31 days
Which is not a common tax credit? - CORRECT ANSWER - American Family Credit
Which is not considered a gambling winning? - CORRECT ANSWER - games of chance
Ordinary dividends are taxed at the same rate as __________ income tax rate. - CORRECT
ANSWER - ordinary
Social Security benefits can be taxed to a maximum of ___________% based on the
beneficiary's annual income - CORRECT ANSWER - 85
Taxable interest is reported on - CORRECT ANSWER - Form 1099-INT
Distributions from HSA, Archer MSA, or MS MSA are non-taxable when
_________________________________________. - CORRECT ANSWER - spent for qualified
medical expenses of your dependent
