VITA Basic Test Exam Questions And Answers

VITA Basic Test Exam Questions And Answers Calvin has qualifying health insurance coverage (also known as minimum essential coverage) as defined under the Affordable Care Act. - ANS True Calvin and Betty may need to make a shared responsibility payment on their joint return if they don't qualify for an exemption. - ANS True Who can claim the American opportunity credit? - ANS Dana can claim the credit because Tom is her dependent. Dana's most advantageous allowable filing status is: - ANS Head of Household Who can Bob claim as a qualifying child(ren) for the earned income credit? - ANS Bob can claim Sara, but not Joan. Who can claim Sara as a dependent? - ANS Joan can claim Sara because she is Sara's mother. (Wrong) Will may claim R.J. as a dependent on his tax return. - ANS True Is Will able to claim R.J. as a qualifying child for the earned income credit (EIC)? - ANS No, because Will has an ITIN. Which benefit(s) can Will claim on his tax return? (Choose the best answer) - ANS All of the above What are the correct filing statuses? - ANS 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? - ANS No What amount of gambling winnings should be reported as other income on Linda's return? - ANS $1,400 Based on her Married Filing Separately filing status, which education benefit is Linda eligible to claim? - ANS She does not qualify for any education benefit What is Gordon's filing status on his 2017 tax return? - ANS Single