H&R Block Income Tax Course
Chapter One Questions with
Accurate Answers
Additional Medicare Tax correct answer An additional tax may apply if the
taxpayer's wages and compensation exceed a threshold amount
Adjusted Gross Income ( AGI ) correct answer This income equals gross income
less adjustments to income , regardless of whether personal deductions are
itemized
Current Medicare Tax Rate correct answer The current tax rate is 1.45 % of gross
wages ( 2.9 % for self employed individuals )
Deductions correct answer Amounts that may be subtracted from income that is
otherwise taxable
Earned Income correct answer Income from personal services as distinguished
from income generated by property or other sources
Earned Income correct answer Income received for services performed
Earned Income correct answer This income includes all amounts received as
wages , tips , bonuses , other employee compensation , and self - employment
income , whether in the form of money , services , or property
Chapter One Questions with
Accurate Answers
Additional Medicare Tax correct answer An additional tax may apply if the
taxpayer's wages and compensation exceed a threshold amount
Adjusted Gross Income ( AGI ) correct answer This income equals gross income
less adjustments to income , regardless of whether personal deductions are
itemized
Current Medicare Tax Rate correct answer The current tax rate is 1.45 % of gross
wages ( 2.9 % for self employed individuals )
Deductions correct answer Amounts that may be subtracted from income that is
otherwise taxable
Earned Income correct answer Income from personal services as distinguished
from income generated by property or other sources
Earned Income correct answer Income received for services performed
Earned Income correct answer This income includes all amounts received as
wages , tips , bonuses , other employee compensation , and self - employment
income , whether in the form of money , services , or property
