VITA 2021 Advanced Test Study Guide

Head of Household - 1. What is the most beneficial filing status that Karen is eligible to claim on her 2021 tax return? False - 2. Karen's Economic Impact Payment (EIP3) must be included in her total income. $300 - 3. What amount may Karen deduct as a charitable contribution when filing her 2021 tax return? $6,600 - 4. What is the maximum amount Paul and Maggie are eligible to claim for the child tax credit? $3,500 - 5. How much of the child care expenses can be used to claim the child and dependent care credit? All the above - 6. Form 8889, Part 1 is used to report HSA contributions made by _______________. 1000 - 7. Carol is eligible to contribute an additional $________ to her HSA because she is age 55 or older. $2,980 - 8. What is the total unreimbursed qualified medical expenses reported on Form 8889, Part II? Barbara and Jenny - 9. For the purpose of determining dependency, Marie meets the conditions to be the qualifying child of _______________. False - 10. Jenny is not eligible to claim Marie for the earned income credit because her filing status is Married Filing Separate. True - 11. Michael's mortgage insurance premium of $230 can be claimed as an itemized deduction on his Schedule A. $1000 - 12. What amount of gambling losses is Michael eligible to claim as a deduction on his Schedule A?