Vita 6744 Basic Course Scenarios 2024

Vita 6744 Basic Course Scenarios 2024 1. What is the amount of Olivia's standard deduction? -Answer-B. $20,000 2. The maximum amount of child tax credit that Olivia is able to claim per qualifying child for 2019 is: -Answer-D. $2000 3. Are the Franklins eligible to claim the earned income credit? -Answer-C. No, Because Isabella has an ITIN 4. Which credit(s) can the Franklins claim on their 2019 tax return? -Answer-D. All of the Above 5. Which of the following statements is true? -Answer-B. Henry is not required to report the $12,000 alimony received as income and Charlotte cannot claim alimony paid as an adjustment to income . 6. Who can claim Ethan and James as qualifying children for earned income credit? -Answer-B. Henry 7. One of the ways Mark and Sue can prevent having a balance due next year is to use the Tax Withholding Estimator at IRS.gov and then adjust their withholding. -Answer-A. True 8. Mark and Sue should not file their tax return until they can pay the entire balance due. - Answer-B. False 9. Mark is required to make a shared responsibility payment because he did not have health insurance in 2019. -Answer-A. True