H and R Block Exam Questions and Answers

H and R Block Exam Questions and Answers Which of the following is considered earned income - ANS ️️ Earned income is money received for services performed. 50 cent- 99 cent are rounded up. 1 cent -49 cent is dropped - ANS ️️ Tax on income that comes entirely from wages under 100,000 is determined to the - ANS ️️ Tax table Tax table are used by taxpayers whos income are less than 100,000. - ANS ️️ Which form is used by employers to report wages earned by their employees - ANS ️️ W2 Which of the following three factors determine the filing requirements ( not residency) - ANS ️️ The standard deduction on an income tax return is determined by - ANS ️️ Your Filing Status The head of household filing status requires that a taxpayer maintain a household for - ANS ️️ One of the requirements for the head of household filing status is that the taxpayer maintains a household for a qualifying child, qualifying relative, or a parent claimed as a dependent on the taxpayer's return. For tax purposes, when is a person's marital status determined - ANS ️️ A person's marital status for the purposes of a tax return is determined on the last day of the tax year