H & R Block Midterm Review Questions And Answers 2024/2025 Updated Quiz

H & R Block Midterm Review Questions And Answers 2024/2025 Updated Quiz Some types of income do not need to be reported anywhere on a federal tax return. This includes all of the following EXCEPT: A.) Most medical insurance proceeds B.) Worker's compensation paid to an employee who was injured on the job. C.) Welfare benefits D.) Unemployment compensation ANS D.) Unemployment compensation Which of the following is considered earned income? A.) Interest from a bank account. B.) Unemployment compensation C.) Income from farming D.) Gambling Winnings ANS C.) Income from farming Which of the following shows these numbers rounded correctly: $31.43, $143.57, $369.22, $1,547.88? A.) $32. $142. $368. $1,547 B.) $31. $144. $369. $1,548 C.) $31. $142. $369. $1,547. D.) $32. $144. $368. $1,547 ANS B.) $31. $144. $369. $1,548 The tax on income that comes entirely from wages under $100,000 is determined according to the? A.) Tax tables B.) Tax computation worksheet C.) Qualified dividends and capital gains worksheet