Tax preparer (Actual) Exam Graded A+
1040 A - ANSWER-taxable income $100,000 or less; adjustments to income are
allowed; tax credits for child care & dependent care are allowed
1040 EZ - ANSWER-Simple tax return form, often filled out by young people. With no
dependent
1040 NR - ANSWER-1040 Non Resident Alien tax return
only for people that come from mexico to work with a permit.
1040 PR - ANSWER-1040 Puerto Rico only residents from puerto rico
1040 X - ANSWER-Form used to correct information and explaining why you are
changing what was reported on your original return. You don't have to redo your entire
return, either.
1095-A - ANSWER-Private health coverage
1095-B - ANSWER-State health coverage (medicaid, chp+)
1095-C - ANSWER-Employer-Provided Health Insurance Offer and Coverage
1099 Form - ANSWER-Shows how much you earned during the year in income from
interest, independent contractor...
1099-G MISC - ANSWER-
1099-INT - ANSWER-a statement of the interest your bank paid on your savings that
year
2 taxpayers married on November 30. That same year, the husband enrolled in an
accredited college to further his career and subsequently received a Form 1098-T,
Tuition Statement. The wife was employed with an income of $45,000 and paid for the
husband's education expenses. Based on their circumstances, what is the correct
method to report the education credit? - ANSWER-Taxpayers must file a joint return to
claim an education credit
4852 - ANSWER-The ____ form is a substitute for the W-2 form.
A form 8453 must be submitted to the IRS after acceptance of an e-filed return when... -
ANSWER-An agent possessing a Form 2848 electronically signs the return
1040 A - ANSWER-taxable income $100,000 or less; adjustments to income are
allowed; tax credits for child care & dependent care are allowed
1040 EZ - ANSWER-Simple tax return form, often filled out by young people. With no
dependent
1040 NR - ANSWER-1040 Non Resident Alien tax return
only for people that come from mexico to work with a permit.
1040 PR - ANSWER-1040 Puerto Rico only residents from puerto rico
1040 X - ANSWER-Form used to correct information and explaining why you are
changing what was reported on your original return. You don't have to redo your entire
return, either.
1095-A - ANSWER-Private health coverage
1095-B - ANSWER-State health coverage (medicaid, chp+)
1095-C - ANSWER-Employer-Provided Health Insurance Offer and Coverage
1099 Form - ANSWER-Shows how much you earned during the year in income from
interest, independent contractor...
1099-G MISC - ANSWER-
1099-INT - ANSWER-a statement of the interest your bank paid on your savings that
year
2 taxpayers married on November 30. That same year, the husband enrolled in an
accredited college to further his career and subsequently received a Form 1098-T,
Tuition Statement. The wife was employed with an income of $45,000 and paid for the
husband's education expenses. Based on their circumstances, what is the correct
method to report the education credit? - ANSWER-Taxpayers must file a joint return to
claim an education credit
4852 - ANSWER-The ____ form is a substitute for the W-2 form.
A form 8453 must be submitted to the IRS after acceptance of an e-filed return when... -
ANSWER-An agent possessing a Form 2848 electronically signs the return
