H&R Block Midterm Review Questions with Accurate Answers

H&R Block Midterm Review
Questions with Accurate Answers
Assuming all other requirements are met, how long may an eligible surviving
spouse file as a qualifying widow(er)? B correct answer a) One year.
b) Two years.
c) Three years.
d) Five years.


For 2017, how much is the standard deduction for a single taxpayer? B correct
answer a) $4,050
b) $6,350
c) $9,350
d) $12,700


For 2017, what is the exemption amount for each qualifying child? C correct
answer a) $1,000
b) $3,050
c) $4,050
d) $6,350


For 2017, what is the gross income filing requirement for a single taxpayer under
the age of 65? A correct answer a) $10,400
b) $11,950
c) $20,800
d) $23,300

, For 2017, what is the standard deduction for the head of household filing status?
C correct answer a) $4,050
b) $6,350
c) $9,350
d) $12,700


For tax purposes, when is a person's marital status determined? D correct answer
a) On the first day of the tax year.
b) On the taxpayer's birthday.
c) On the day the person files their tax return.
d) On the last day of the tax year.


How much is the Child Tax Credit worth? A correct answer a) $1,000 per
qualifying child.
b) $3,000 per qualifying child.
c) $4,050 per qualifying child.
d) $5,000 per qualifying child.


Schedule B is required when interest income exceeds which of the following
thresholds? B correct answer a) $1,000
b) $1,500
c) Schedule B is always required.
d) Schedule B is never required.


Tax-exempt interest is: C correct answer a) Taxable and reportable.