H&R BLOCK INCOME TAX COURSE EXAM Q&A 2025 100% VERIFIED

H&R BLOCK INCOME TAX COURSE

EXAM Q&A 2025 100% VERIFIED




Disaster relief payments included in gross income? - CORRECT-ANSWER-No




Certain income from the discharge of indebtedness included in gross income? -
CORRECT-ANSWER-No




Statements - CORRECT-ANSWER-Attached to the return to explain various types
of income, deductions, and credits reported either on a schedule or directly on
forms 1040EZ, 1040A, 1040, 1040NR, or 1040PR.




Worksheets - CORRECT-ANSWER-Not sent to the IRS with the return, but are
useful in compiling information and are kept with the taxpayer's copy of the
return.

,Form W-2 - CORRECT-ANSWER-Wage and Tax Statement




Form 4852 - CORRECT-ANSWER-Substitute W-2




W-2 Box 12 Code A - CORRECT-ANSWER-Uncollected social security tax or railroad
retirement tax on tips.




W-2 Box 12 Code B - CORRECT-ANSWER-Uncollected medicare tax on tips.




W-2 Box 12 Code C - CORRECT-ANSWER-The cost of group-term life insurance
coverage in excess of $50,000. This amount has been included in boxes 1, 3, and 5
as taxable income.




W-2 Box 12 Code D - CORRECT-ANSWER-401(k) contributions.

,W-2 Box 12 Code E - CORRECT-ANSWER-403(b) (tax-sheltered annuity)
contributions.




W-2 Box 12 Code F - CORRECT-ANSWER-408(k)(6) SEP contributions.




W-2 Box 12 Code G - CORRECT-ANSWER-457(b) contributions (a type of plan used
by government employees.




W-2 Box 12 Code H - CORRECT-ANSWER-501(c)(18)(D) contributions.




W-2 Box 12 Code J - CORRECT-ANSWER-The amount of a sick pay not includible in
income because the employee contributed to a sick pay plan.




W-2 Box 12 Code K - CORRECT-ANSWER-20% excise tax on excess golden
parachute payments.

, W-2 Box 12 Code L - CORRECT-ANSWER-Substantiated employee business
expenses reimbursements (nontaxable).




W-2 Box 12 Code M - CORRECT-ANSWER-Uncollected social security tax or RRTA
tax on the excess coverage cost on taxable cost of group-term life insurance over
$50,000 (for former employees).




W-2 Box 12 Code N - CORRECT-ANSWER-The same situation as code M, except
the amount shown represents uncollected medicare tax.




W-2 Box 12 Code P - CORRECT-ANSWER-This code represents excludible amounts
paid directly to an employee for a work-related move.




W-2 Box 12 Code Q - CORRECT-ANSWER-Nontaxable combat pay.




W-2 Box 12 Code R - CORRECT-ANSWER-This code represents employer
contributions to the employee's Archer MSA (medical savings account).