VITA Basic Test | Questions with 100% Correct Answers | Verified | Updated 2024

VITA Basic Test | Questions with 100% Correct Answers | Verified | Updated 2024 Calvin has qualifying health insurance coverage (also known as minimum essential coverage) as defined under the Affordable Care Act. - Answer ️️ -True Calvin and Betty may need to make a shared responsibility payment on their joint return if they don't qualify for an exemption. - Answer ️️ -True Who can claim the American opportunity credit? - Answer ️️ -Dana can claim the credit because Tom is her dependent. Dana's most advantageous allowable filing status is: - Answer ️️ -Head of Household Who can Bob claim as a qualifying child(ren) for the earned income credit? - Answer ️️ -Bob can claim Sara, but not Joan. Who can claim Sara as a dependent? - Answer ️️ -Joan can claim Sara because she is Sara's mother. (Wrong) Will may claim R.J. as a dependent on his tax return. - Answer ️️ -True Is Will able to claim R.J. as a qualifying child for the earned income credit (EIC)? - Answer ️️ -No, because Will has an ITIN. Which benefit(s) can Will claim on his tax return? (Choose the best answer) - Answer ️️ -All of the above What are the correct filing statuses? - Answer ️️ -Both John and Marsha must file as Single Is it allowable for John and Marsha to each claim one qualifying child for the earned income credit on their individual returns? - Answer ️️ -No