VITA EXAM REVISION QUESTIONS AND
CORRECT ANSWERS!!
1. Rebecca's most beneficial allowable filing status is Head of Household.
false
2. Rebecca has $_______ in qualifying child care expenses for the child and dependent care
credit..
2500
3. Pat and Terri are only eligible to claim the child tax credit on their 2020 tax return.
false
4. The taxable amount of Pat's unemployment compensation is $_________?
3300
5. Medicaid waiver payments can be considered earned income for the computation of the
earned income credit.
true
6. Andrew's HSA deduction amount on Form 8889, Part I, line 13 is $3,000.
False
7. The HSA contribution made by Andrew's employer will be shown in Box 12 on his Form
W-2 with the following:
W
8. The over-the-counter allergy medication is a qualified medical expense for HSA
purposes.
true
9. Barbara and Claire can make an agreement on who can claim Molly as a dependent.
false
, 10. Jenny is eligible for earned income credit, but can allow Claire to claim the credit.
false
11. Robert is eligible to claim the donation to his friend's GoFundMe account as a
charitable contribution.
false
12. Robert qualifies for an above-the-line charitable contribution adjustment of $300 on his
2020 tax return if he chooses not to itemize.
false
13. Carly can claim $3,960 as a student loan interest deduction on Form 1040, Schedule 1.
false
14. Carly is eligible to deduct $250 as an adjustment to income on Form 1040, Schedule 1
for qualified educator expenses.
false
15. The Franklins can use $ ___________ of qualified child care expenses to calculate the
child and dependent care credit.
6000 false
16. The refundable amount of the American opportunity credit located on Form 8863,
Education Credit is:
918
17. The Franklins' Form 8962, Premium Tax Credit, shows they are entitled to a net
premium tax credit on their 2020 tax return.
true
18. The Franklins can claim a recovery rebate credit of $1,200 for Christina on their 2020
tax return.
false
CORRECT ANSWERS!!
1. Rebecca's most beneficial allowable filing status is Head of Household.
false
2. Rebecca has $_______ in qualifying child care expenses for the child and dependent care
credit..
2500
3. Pat and Terri are only eligible to claim the child tax credit on their 2020 tax return.
false
4. The taxable amount of Pat's unemployment compensation is $_________?
3300
5. Medicaid waiver payments can be considered earned income for the computation of the
earned income credit.
true
6. Andrew's HSA deduction amount on Form 8889, Part I, line 13 is $3,000.
False
7. The HSA contribution made by Andrew's employer will be shown in Box 12 on his Form
W-2 with the following:
W
8. The over-the-counter allergy medication is a qualified medical expense for HSA
purposes.
true
9. Barbara and Claire can make an agreement on who can claim Molly as a dependent.
false
, 10. Jenny is eligible for earned income credit, but can allow Claire to claim the credit.
false
11. Robert is eligible to claim the donation to his friend's GoFundMe account as a
charitable contribution.
false
12. Robert qualifies for an above-the-line charitable contribution adjustment of $300 on his
2020 tax return if he chooses not to itemize.
false
13. Carly can claim $3,960 as a student loan interest deduction on Form 1040, Schedule 1.
false
14. Carly is eligible to deduct $250 as an adjustment to income on Form 1040, Schedule 1
for qualified educator expenses.
false
15. The Franklins can use $ ___________ of qualified child care expenses to calculate the
child and dependent care credit.
6000 false
16. The refundable amount of the American opportunity credit located on Form 8863,
Education Credit is:
918
17. The Franklins' Form 8962, Premium Tax Credit, shows they are entitled to a net
premium tax credit on their 2020 tax return.
true
18. The Franklins can claim a recovery rebate credit of $1,200 for Christina on their 2020
tax return.
false
