H&R Block Tax Prep 2019 Midterm Study Review updated to pass

H&R Block Tax Prep 2019 Midterm Study ReviewKiera, 25, taxpayer, $5,800, unmarried Jan-June f/t student Jaylon, 1, son, $0- contributes more than 50% Annette, 48, mother, $25k Kiera & Jaylon have lived with Annette for all of 2018 Single, Child Tax Credit/Additional Child Tax Credit, Earned Income Tax Credit Alicia, 29, taxpayer $36,450, separated Bebe, 3 & Meme, 5, daughters Live in Alicia's parents finished basement since 2017 Contributing more than 50% of cost of living Husband does not contribute nor live with Alicia Head of Household, Child Tax Credit, Earned Income Tax Credit Trey, $52k & Sasha, $38,750 both 45, married Kyas, 18, son, $7200 Drew, 14, son, $350 Both sons lived with parents all of 2018 and received more than 50% of financial support Married Filing Jointly, Child Tax Credit Stan, 31, taxpayer, not married, $26,575 Donna, 25, girlfriend, $4,050 Cash, 3, Donna's son Donna & Cash have lived with Stan for all of 2018 Stan provided more than 50% of financial support for entire household Single, Other dependant, NO Income Tax Credit Terry, 49, $26,500, married Gwen, 50, $16,805 Tevin, 20, son, p/t job, $5,100 Tierany, 15, daughter, f/t HS More than 50% for both children Married Filing Joint, Child Tax Credit Karrie, 53, taxpayer, unmarried, $37,250 Jane, 22, daughter, $7,250 (plans to file and claim her daughter, Velma) Velma, 2, granddaughter Janet, 19, daughter, f/t student on full scholarship Head of Household, Other Dependent, Earned Income Tax Credit Rob, 53, taxpayer, $21k wages, $3k dividends Danie, died 6/26/2017 Tonya, 19, daughter, $6,350 NOT a student Rob provided more than 50% financial support to Tonya Filed a joint return last year Married Filing Joint Mark, 46, taxpayer, unmarried, $75k Mona, 81, mother, $1,600 taxable interest & $9,600 SSI, lives in nursing home Mark contributed more than 50% financial support Head of Household, Other Bryan, 26, taxpayer, unmarried $25,350 Zeke, 21, brother, $3,100 Contributed more than 50% ' Head of Household, Earned Income Tax Credit Ann, 49, taxpayer, $27,850 Frank, 55, $26k Anita, 15, $1,325 Married but separated since 3/15/2018 Ann will not file joint but signed a 8332 Form Head of Household, Earned Income Tax Credit What should taxpayers include on their 2018 tax return? education expenses Dorthy Dandridge, unmarried, Head of Household $34,500 wages $275 bank interest $115 municipal bond interest $325 lottery prize $5k gifts Will deduct $1,250 contributed to IRA What is her AGI? Gifts & Municiple Bonds are not taxable. $33,850 What is NOT federally taxable, but should be reported on Form 1040? Tax exempt interest from a municipal bond investment. Lily Peel, 64 Dwayne, 41, son Carter, 20 , grandson p/t student AGI $20k-$30k What credit do they qualify for? NO Earned Income Tax Credit because he is p/t student. For 2018 most US citizens are subject to the ACA. What best describes the ACA? Must have health coverage every month of the year 2018 or either qualify for exemption or be subject to penalties.