Intuit Academy Tax Level 1 Final Exam Newest 2026-
2027 With Complete 300 Questions And Correct
Detailed Answers| Brand New Version!
James and Margaret own a tech business. Their storefront
is located in Times Square, New York City. They employ
150 people. Some of thestaff are contractors. Every year,
during Hanukah, they gift their regular clients next gen
prototypes that have a fair market value of $24.00.
Which of the following items can James and Margaret
apply for deductions as a business expense?
Contract employee wages Storefront maintenance cost
Insurance Gifts to clients
,Amara purchases a new vehicle for $24,500. She uses the
vehicle 60% for business and 40% for personal use.
What amount of the vehicle cost is eligible for
Depreciation?
$14,700
,Which of the following businesses are eligible for QBI
deduction?
Sole proprietorship
Partnership-based venture
S corporation
Trust
,Stefan regularly works from Los Angeles. Stefan decides
to take a contract job for 8 months in San Francisco.
Which of the following is Stefan's tax home now?
Los Angeles
Which factors limit the QBI component of QBI deduction?
W-2 wages
UBIA of the qualified property
Type of business
,Bert runs a software firm. She takes one of her clients to
a baseball game. Bert buys two tickets to the game for
$150 each. During the game, she pays for hot dogs and
, soda totaling $68.25.
What amount can she claim for deduction?
$34.12
April lives in a rented apartment in SoHo. She operates
her baking
business from her home. She has one dedicated room for
her business
equipment, stock, and samples.
Based on the information above, which of the following is
true?
April can deduct the portion of the rent for her home that
2027 With Complete 300 Questions And Correct
Detailed Answers| Brand New Version!
James and Margaret own a tech business. Their storefront
is located in Times Square, New York City. They employ
150 people. Some of thestaff are contractors. Every year,
during Hanukah, they gift their regular clients next gen
prototypes that have a fair market value of $24.00.
Which of the following items can James and Margaret
apply for deductions as a business expense?
Contract employee wages Storefront maintenance cost
Insurance Gifts to clients
,Amara purchases a new vehicle for $24,500. She uses the
vehicle 60% for business and 40% for personal use.
What amount of the vehicle cost is eligible for
Depreciation?
$14,700
,Which of the following businesses are eligible for QBI
deduction?
Sole proprietorship
Partnership-based venture
S corporation
Trust
,Stefan regularly works from Los Angeles. Stefan decides
to take a contract job for 8 months in San Francisco.
Which of the following is Stefan's tax home now?
Los Angeles
Which factors limit the QBI component of QBI deduction?
W-2 wages
UBIA of the qualified property
Type of business
,Bert runs a software firm. She takes one of her clients to
a baseball game. Bert buys two tickets to the game for
$150 each. During the game, she pays for hot dogs and
, soda totaling $68.25.
What amount can she claim for deduction?
$34.12
April lives in a rented apartment in SoHo. She operates
her baking
business from her home. She has one dedicated room for
her business
equipment, stock, and samples.
Based on the information above, which of the following is
true?
April can deduct the portion of the rent for her home that
