VITA RETEST Basic Scenario.
Jeff does not have to make a shared responsibility payment because he was covered by a health insurance plan through his employer for the full tax year. TRUE Linda must make a shared responsibility payment because she did not have qualified healthcare coverage all year FALSE David is Ava's qualifying child for the earned income credit. TRUE David is a qualifying person for Ava to claim Head of Household filing status, credit for other dependents and the education credit. TRUE Ellen's standard deduction is $24,000 FALSE The maximum amount of additional child tax credit Ellen is able to claim per qualifying child is $1,400 TRUE Christopher and Amanda can claim Jennifer as a qualifying child for the earned income credit (EIC) FALSE Jennifer is a qualifying child for the child tax credit TRUE Ashley's correct filing status is Single FALSE Mathew can claim Mark and Kevin as qualifying children for the earned income credit TRUE There is nothing George and Helen can do to prevent having a balance due next year FALSE George and Helen should not file their tax return until they can pay the entire balance due FALSE Joshua should file a tax return to claim a refund of his withholding TRUE Jacob and Martha must report ______ of gambling winnings on their tax return. $2,000 The amount of Daniel's qualifying education expenses must be reduced by the scholarship amount shown on Form 1098-T TRUE The taxable amount of Jacob and Martha's Social Security income is $26,350 FALSE Jacob and Martha have an increased standard deduction for their filing status because they are both 65 years old TRUE Jacob and Martha must use Form 8888, Allocation of Refund (Including Savings Bond Purchases), to split their refund between their checking and savings accounts TRUE Emily can claim an exemption on her 2018 tax return for not having healthcare coverage for 2 months of the year TRUE Emily qualifies for the American opportunity credit FALSE What is the total federal income tax withheld shown on Emily's tax return? $3,470 What is Emily's total credit amount shown on Form 2441, Child and Dependent Care Expenses? $660
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- September 3, 2023
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