H&R BLOCK EXAMS COMPLETE COURSE
REVIEW GUIDE
◉ A taxpayer should include which of the following when figuring
their federal gross income?
Answer: A. Prior-year federal income tax refund.
B. Ordinary dividends.
C. Personal injury compensation.
D. Qualified disaster relief payments.
Answer: B
◉ A taxpayer is required to file Schedule 1 (Form 1040) when
claiming which of the following?
Answer: A. Retirement savings contributions credit.
B. Health savings account deduction
C. Education credit
D. Excess advance premium tax credit repayment
Answer: B
◉ In 2018, the excise tax for excess contributions to a health savings
account is _____________.
Answer: A. 0%
,B. 6%
C. 10%
D. 20%
Answer: B
◉ In 2018, the additional excise tax for non-qualified distributions
from a health savings account is ____________.
Answer: A. 0%
B. 6%
C. 10%
D. 20%
Answer: D
◉ Cynthia works full-time as a teacher's aide at an elementary
school. In 2018, she paid $250 to participate in a professional
development course, hoping to upgrade her job skills. Since she was
no reimbursed for this expense, she would like to claim the educator
expense deduction. As Cynthia's Tax Pro, what advice would you
offer her?
Answer: A. She may not claim the deduction b/c she is not
considered an eligible educator.
B. Since she spent the $250 on professional development rather than
classroom supplies, she is not eligible for this deduction.
,C. She may claim the deduction since she is an eligible educator and
the professional development course is a qualified expense.
D. Since employee business expenses are no longer deductible on
SCH A, she may not claim a deduction for the cost of the professional
development course.
Answer: C
◉ Major Winters, a member of the Army Reserve, traveled to a
location 250 miles from his home to perform his work in the reserve
in June 2018. His unreimbursed expenses consisted of $195 for
lodging and $268 for mileage. In addition, he incurred mileage
expenses of $235 throughout the yr. for trips to a location 20 miles
from his home. How much is Major Winters eligible to deduct on
SCH 1 (Form 1040), line 24, as an above-the-line adjustment?
Answer: A. $0
B. $268
C. $463
D. $698
Answer: C
◉ Kimberly originally files her 2017 return on February 19, 2018.
Under ordinary circumstances, what is the last day she can file an
amended 2017 return?
Answer: A. April 15, 2021
B. February 19, 2021
, C. April 15, 2020
D. April 17, 2018
Answer: A
◉ All of the following issues may be corrected or changed by filing
Form 1040X, Amended U.S. Individual Income Tax Return, EXCEPT:
Answer: A. The amount of deductible medical expenses was
reported incorrectly on the original return
B. An error that was made on a trust return needs to be corrected
C. Wages for a 2nd job were not initially reported
D. A taxpayer who filed as a non-resident qualified for U.S. resident
status
Answer: B
◉ Michelle converted her personal residence to rental property in
2018. She purchased the property in 2014 for $110,000 of which
$10,000 was allocable to the land. Unfortunately, property values in
her neighborhood have declined over the past few yrs. On the date of
conversion, the FMV of the property was $98,000; $10,000 was
allocated to the land. Michelle's basis for depreciation in the
property is:
Answer: A. $88,000
B. $98,000
C. $100,000
REVIEW GUIDE
◉ A taxpayer should include which of the following when figuring
their federal gross income?
Answer: A. Prior-year federal income tax refund.
B. Ordinary dividends.
C. Personal injury compensation.
D. Qualified disaster relief payments.
Answer: B
◉ A taxpayer is required to file Schedule 1 (Form 1040) when
claiming which of the following?
Answer: A. Retirement savings contributions credit.
B. Health savings account deduction
C. Education credit
D. Excess advance premium tax credit repayment
Answer: B
◉ In 2018, the excise tax for excess contributions to a health savings
account is _____________.
Answer: A. 0%
,B. 6%
C. 10%
D. 20%
Answer: B
◉ In 2018, the additional excise tax for non-qualified distributions
from a health savings account is ____________.
Answer: A. 0%
B. 6%
C. 10%
D. 20%
Answer: D
◉ Cynthia works full-time as a teacher's aide at an elementary
school. In 2018, she paid $250 to participate in a professional
development course, hoping to upgrade her job skills. Since she was
no reimbursed for this expense, she would like to claim the educator
expense deduction. As Cynthia's Tax Pro, what advice would you
offer her?
Answer: A. She may not claim the deduction b/c she is not
considered an eligible educator.
B. Since she spent the $250 on professional development rather than
classroom supplies, she is not eligible for this deduction.
,C. She may claim the deduction since she is an eligible educator and
the professional development course is a qualified expense.
D. Since employee business expenses are no longer deductible on
SCH A, she may not claim a deduction for the cost of the professional
development course.
Answer: C
◉ Major Winters, a member of the Army Reserve, traveled to a
location 250 miles from his home to perform his work in the reserve
in June 2018. His unreimbursed expenses consisted of $195 for
lodging and $268 for mileage. In addition, he incurred mileage
expenses of $235 throughout the yr. for trips to a location 20 miles
from his home. How much is Major Winters eligible to deduct on
SCH 1 (Form 1040), line 24, as an above-the-line adjustment?
Answer: A. $0
B. $268
C. $463
D. $698
Answer: C
◉ Kimberly originally files her 2017 return on February 19, 2018.
Under ordinary circumstances, what is the last day she can file an
amended 2017 return?
Answer: A. April 15, 2021
B. February 19, 2021
, C. April 15, 2020
D. April 17, 2018
Answer: A
◉ All of the following issues may be corrected or changed by filing
Form 1040X, Amended U.S. Individual Income Tax Return, EXCEPT:
Answer: A. The amount of deductible medical expenses was
reported incorrectly on the original return
B. An error that was made on a trust return needs to be corrected
C. Wages for a 2nd job were not initially reported
D. A taxpayer who filed as a non-resident qualified for U.S. resident
status
Answer: B
◉ Michelle converted her personal residence to rental property in
2018. She purchased the property in 2014 for $110,000 of which
$10,000 was allocable to the land. Unfortunately, property values in
her neighborhood have declined over the past few yrs. On the date of
conversion, the FMV of the property was $98,000; $10,000 was
allocated to the land. Michelle's basis for depreciation in the
property is:
Answer: A. $88,000
B. $98,000
C. $100,000