VITA 2023 Advanced Test QUESTION AND ANSWER GRADED A+ ACTUAL QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES VERIFIED ANSWERS ALREADY GRADED A+

VITA 2023 Advanced Test QUESTION AND ANSWER GRADED A+ ACTUAL QUESTIONS AND CORRECT DETAILED ANSWERS WITH RATIONALES VERIFIED ANSWERS ALREADY GRADED A+ Head of Household - CORRECT ANSWER-1. What is the most beneficial filing status that Karen is eligible to claim on her 2021 tax return? False - CORRECT ANSWER-2. Karen's Economic Impact Payment (EIP3) must be included in her total income. $300 - CORRECT ANSWER-3. What amount may Karen deduct as a charitable contribution when filing her 2021 tax return? $6,600 - CORRECT ANSWER-4. What is the maximum amount Paul and Maggie are eligible to claim for the child tax credit? $3,500 - CORRECT ANSWER-5. How much of the child care expenses can be used to claim the child and dependent care credit? All the above - CORRECT ANSWER-6. Form 8889, Part 1 is used to report HSA contributions made by _______________. 1000 - CORRECT ANSWER-7. Carol is eligible to contribute an additional $________ to her HSA because she is age 55 or older. $2,980 - CORRECT ANSWER-8. What is the total unreimbursed qualified medical expenses reported on Form 8889, Part II? Barbara and Jenny - CORRECT ANSWER-9. For the purpose of determining dependency, Marie meets the conditions to be the qualifying child of _______________. False - CORRECT ANSWER-10. Jenny is not eligible to claim Marie for the earned income credit because her filing status is Married Filing Separate. True - CORRECT ANSWER-11. Michael's mortgage insurance premium of $230 can be claimed as an itemized deduction on his Schedule A. $1000 - CORRECT ANSWER-12. What amount of gambling losses is Michael eligible to claim as a deduction on his Schedule A? False - CORRECT ANSWER-13. Sean is not required to file a tax return because he has enough tax withholding to cover his tax liability.