VITA Basic Test 2024 100% Solved

VITA Basic Test 2024 100% Solved Calvin has qualifying health insurance coverage (also known as minimum essential coverage) as defined under the Affordable Care Act. -Answer-True Calvin and Betty may need to make a shared responsibility payment on their joint return if they don't qualify for an exemption. -Answer-True Who can claim the American opportunity credit? -Answer-Dana can claim the credit because Tom is her dependent. Dana's most advantageous allowable filing status is: -Answer-Head of Household Who can Bob claim as a qualifying child(ren) for the earned income credit? -Answer-Bob can claim Sara, but not Joan. Who can claim Sara as a dependent? -Answer-Joan can claim Sara because she is Sara's mother. (Wrong) Will may claim R.J. as a dependent on his tax return. -Answer-True Is Will able to claim R.J. as a qualifying child for the earned income credit (EIC)? -Answer-No, because Will has an ITIN. Which benefit(s) can Will claim on his tax return? (Choose the best answer) -Answer-All of the above What are the correct filing statuses? -Answer-Both John and Marsha must file as Single Is it allowable for John and Marsha to each claim one qualifying child for the earned income credit on their individual returns? -Answer-No What amount of gambling winnings should be reported as other income on Linda's return? - Answer-$1,400 Based on her Married Filing Separately filing status, which education benefit is Linda eligible to claim? -Answer-She does not qualify for any education benefi