H & R Block Basic Class Chapter 2 Exam Questions and Answers

H & R Block Basic Class Chapter 2 Exam Questions and Answers Community Income - ANS ️️ Income of a married couple, living in a community property state, that is considered to belong equally to each spouse, regardless of which spouse receives the income. Community Property - ANS ️️ Property considered to belong in equal shares to a husband and wife. This concept of ownership for property acquired after marriage is followed in Arizona, California, Idaho, Louisiana, New Mexico, Nevada, Texas, Washington, and Wisconsin Dependent - ANS ️️ An individual whose personal exemption may be claimed on another person's income tax return. To be claimed as a dependent, a person much meet certian tests. Exemption - ANS ️️ An amount ($4,050 for 2017) allowed by law as a reduction of income that would otherwise be taxed. See also Personal and Dependency Exemptions