HR Block Review Exam Questions With
Solutions
Dec 31 Marital status determined
Earned Income Tax Credit Investment income limit $3500
No QC age 25-65
Max credit $6431 with 3+ QC
QBI Deduct 20% of individuals qualified gross business income
MFS minimum requirement to file = $5
Qualifying Relative 1. Not a QC
2. Relationship/Household
3. Gross Income
4. Support
$4150 QR income must be less than this amount
, HR Block Review Exam Questions With
Solutions
Earned Income Received for services performed
Lifetime Learning Credit calculated by using 20% of the first 10,000 of qualifying
expenses per return, per year
Other Dependent Tax Credit nonrefundable credit 500/person qualifying dependent.
US citizen, national or resident
Refundable A credit for which the IRS will send the taxpayer a refund for any amount in
excess of the taxpayers tax liability
Rollover takes money out of IRA and puts it into another IRA
Schedule B form required when taxable interest or ordinary dividend income exceeds
$1500
Traditional IRA maximum contribution $5500 < age 50;
Solutions
Dec 31 Marital status determined
Earned Income Tax Credit Investment income limit $3500
No QC age 25-65
Max credit $6431 with 3+ QC
QBI Deduct 20% of individuals qualified gross business income
MFS minimum requirement to file = $5
Qualifying Relative 1. Not a QC
2. Relationship/Household
3. Gross Income
4. Support
$4150 QR income must be less than this amount
, HR Block Review Exam Questions With
Solutions
Earned Income Received for services performed
Lifetime Learning Credit calculated by using 20% of the first 10,000 of qualifying
expenses per return, per year
Other Dependent Tax Credit nonrefundable credit 500/person qualifying dependent.
US citizen, national or resident
Refundable A credit for which the IRS will send the taxpayer a refund for any amount in
excess of the taxpayers tax liability
Rollover takes money out of IRA and puts it into another IRA
Schedule B form required when taxable interest or ordinary dividend income exceeds
$1500
Traditional IRA maximum contribution $5500 < age 50;
