INTUIT ACADEMY TAX LEVEL 1 EXAM TEST BANK SOLVED QUESTIONS 100 PERCENT CORRECT ANSWERS

INTUIT ACADEMY TAX LEVEL 1 EXAM TEST BANK SOLVED QUESTIONS 100 PERCENT
CORRECT ANSWERS




Age
Income


• Filing Status -✓✓Single
Married Filing Jointly
Married Filing Separately
Head of Household
Qualifying Surviving Spouse
Dependent (less common)


• Age range -✓✓Taxpayers age on December 31st of the tax year-
under OR at or above 65


• Gross income -✓✓Taxpayer's gross income for the tax year compared
to IRS provided threshold.


• Income less than threshold: -✓✓Not required to file a return.


• Income at/above threshold -✓✓Must file a return.

, • Dependents claimed in someone else's return may still qualify to file a
return. -✓✓True


• Even if the taxpayer is not required to file a return, they may still file a
return that might bring a refund for any federal income tax withheld. -
✓✓True


• When someone files -✓✓They must choose a filing status.


• If you were married at the end of the tax year you can choose -
✓✓Whether to file jointly or separately.


• If one spouse chooses to file separately -✓✓Both must file separately.


• Married as of December 31st -✓✓File as Married Filing Jointly or
Married Filing Separately.


• Filing Jointly may -✓✓Get bigger tax breaks or pay less in taxes than
if filing separately.


• Single Filing Status -✓✓Have never been married or has been
divorced or legally separated under state law.