INTUIT ACADEMY TAX LEVEL 1 EXAM STUDY SHEET COMPLETE QUESTIONS ACCURATE
SOLUTIONS
filing status, gross income.
• Form 1040 Overview -✓✓Purpose of Form 1040; main sections for
income, adjustments, tax computation, payments.
• Form 1040 Line 1: Wages, Salaries, Tips -✓✓Box 1 of W-2; reporting
tips; attached Form W-2.
• Form 1040 Lines 2a & 2b: Interest Income -✓✓2a: Tax-exempt
interest (municipal bond interest); 2b: Taxable interest (1099-INT box
1).
• Form 1040 Lines 3a & 3b: Dividends -✓✓3a: Qualified dividends at
capital gains rates; 3b: Ordinary dividends at ordinary rates.
• Filing Status Definitions -✓✓Single; Married Filing Jointly (MFJ);
Married Filing Separately (MFS); Head of Household (HOH);
Qualifying Widow(er).
• Qualifying Dependent Tests -✓✓Relationship test; residency test; age
test; support test; joint return test.
• Gross Income Inclusions -✓✓Wages; salaries; tips; interest; dividends;
business income; rental income; unemployment compensation; alimony
(pre-2019).
SOLUTIONS
filing status, gross income.
• Form 1040 Overview -✓✓Purpose of Form 1040; main sections for
income, adjustments, tax computation, payments.
• Form 1040 Line 1: Wages, Salaries, Tips -✓✓Box 1 of W-2; reporting
tips; attached Form W-2.
• Form 1040 Lines 2a & 2b: Interest Income -✓✓2a: Tax-exempt
interest (municipal bond interest); 2b: Taxable interest (1099-INT box
1).
• Form 1040 Lines 3a & 3b: Dividends -✓✓3a: Qualified dividends at
capital gains rates; 3b: Ordinary dividends at ordinary rates.
• Filing Status Definitions -✓✓Single; Married Filing Jointly (MFJ);
Married Filing Separately (MFS); Head of Household (HOH);
Qualifying Widow(er).
• Qualifying Dependent Tests -✓✓Relationship test; residency test; age
test; support test; joint return test.
• Gross Income Inclusions -✓✓Wages; salaries; tips; interest; dividends;
business income; rental income; unemployment compensation; alimony
(pre-2019).