VITA ADVANCED RETAKE TEST
10. Completing a thorough interview before coming into taxpayer information into the
software allows keep away from which of the following ability issues? - ANS-a. The volunteer
may not have the required certifications to put together the go back.
B. The return may be Out of Scope.
C. The taxpayer may not have all the records needed to prepare the return.
D. All of the above. <<< CORRECT
10. To make sure high-quality carrier and correct go back education, every website online is
required to have a procedure for assigning taxpayers to IRS tax regulation-certified
preparers who are certified at or above the extent required to put together their tax go back. -
ANS-True
10. Which of the subsequent statements is proper? - ANS-a. Linda isn't always eligible to
say Nancy for the EIC because her filing popularity is married submitting
separate.
B. Linda is not eligible to say the EIC for Nancy because she is underneath age 25.
C. Linda isn't eligible to claim Nancy for the EIC due to the fact her income is simply too
high.
D. None of the above statements are authentic. <<< CORRECT
-Linda is eligible to claim Nancy for the EIC.
11. If Ellen chooses to itemize, which of the following is she eligible to claim as a deduction
on Schedule A? - ANS-$300 Personal property taxes based on the value of her vehicle
-Entered on Schedule A, Line 5c.
-HSA contributions entered on Form 8889 and Schedule 1, not on Schedule A.
-GoFundMe and HOA fees are nondeductible in this case.
12. Ellen is eligible to claim $3,000 in gambling losses as a deduction on her Schedule A. -
ANS-False
$3,000 gambling losses --> limited to $2,000 playing winnings.
, Thirteen. Which of the following is a requirement for John to claim the lifetime learning credit
score in 2022? - ANS-John's modified adjusted gross earnings (MAGI) should be less than
$ninety,000.
14. John is eligible to say the earned earnings credit on his 2022 tax return. - ANS-True
-Earned income beneath $59,187 in 2022.
-Investment income below $10,three hundred for 2022.
-Has legitimate SSN through tax due date.
-Was U.S. Citizen or a resident alien all yr.
-Didn't report Form 2555, Foreign Earned Income.
15. The taxable portion of Emily's pension from Maple Enterprises the usage of the simplified
approach is $19,350. - ANS-False
Combined a while = 129 (60+69).
310 lifestyles annuity payments (joint and survivor annuity desk).
$14,500 (line 9b) / 310 = forty six.77 * one year = $561.29
$19,350 (line 1) - $561 = $18,789
sixteen. The taxable quantity of Emily's social protection profits is: - ANS-$18,023
-Income (collectively) is over $44,000 in 2022.
-Therefore, 85% of SSA is taxable.
$21,203 * eighty five% = $18,022.25
17. The overall quantity of different earnings pronounced on the Lincoln's Form 1040,
Schedule 1 is $850. - ANS-False
$4,414 playing winnings + $one hundred seventy five lottery winnings + $850 debt
cancellation = $five,439.
18. What is the amount Robert is eligible to claim as certified educator costs on Form 1040,
Schedule 1? - ANS-$300
$733 unreimbursed lecture room exp. --> restrained to $300.
19. The Lincoln's fashionable deduction on their Form 1040 for tax 12 months 2022 is
$25,900. - ANS-False
$25,900 (MFJ) + $1,four hundred (Emily 65+ age) = $27,300
2. Failure of a VITA/TCE volunteer to conform with the Volunteer Standards of Conduct
should result in which of the subsequent? - ANS-a. The volunteer's removal from the
VITA/TCE application.
B. The volunteer's inclusion within the IRS Volunteer Registry to bar future VITA/TCE interest
indefinitely.
10. Completing a thorough interview before coming into taxpayer information into the
software allows keep away from which of the following ability issues? - ANS-a. The volunteer
may not have the required certifications to put together the go back.
B. The return may be Out of Scope.
C. The taxpayer may not have all the records needed to prepare the return.
D. All of the above. <<< CORRECT
10. To make sure high-quality carrier and correct go back education, every website online is
required to have a procedure for assigning taxpayers to IRS tax regulation-certified
preparers who are certified at or above the extent required to put together their tax go back. -
ANS-True
10. Which of the subsequent statements is proper? - ANS-a. Linda isn't always eligible to
say Nancy for the EIC because her filing popularity is married submitting
separate.
B. Linda is not eligible to say the EIC for Nancy because she is underneath age 25.
C. Linda isn't eligible to claim Nancy for the EIC due to the fact her income is simply too
high.
D. None of the above statements are authentic. <<< CORRECT
-Linda is eligible to claim Nancy for the EIC.
11. If Ellen chooses to itemize, which of the following is she eligible to claim as a deduction
on Schedule A? - ANS-$300 Personal property taxes based on the value of her vehicle
-Entered on Schedule A, Line 5c.
-HSA contributions entered on Form 8889 and Schedule 1, not on Schedule A.
-GoFundMe and HOA fees are nondeductible in this case.
12. Ellen is eligible to claim $3,000 in gambling losses as a deduction on her Schedule A. -
ANS-False
$3,000 gambling losses --> limited to $2,000 playing winnings.
, Thirteen. Which of the following is a requirement for John to claim the lifetime learning credit
score in 2022? - ANS-John's modified adjusted gross earnings (MAGI) should be less than
$ninety,000.
14. John is eligible to say the earned earnings credit on his 2022 tax return. - ANS-True
-Earned income beneath $59,187 in 2022.
-Investment income below $10,three hundred for 2022.
-Has legitimate SSN through tax due date.
-Was U.S. Citizen or a resident alien all yr.
-Didn't report Form 2555, Foreign Earned Income.
15. The taxable portion of Emily's pension from Maple Enterprises the usage of the simplified
approach is $19,350. - ANS-False
Combined a while = 129 (60+69).
310 lifestyles annuity payments (joint and survivor annuity desk).
$14,500 (line 9b) / 310 = forty six.77 * one year = $561.29
$19,350 (line 1) - $561 = $18,789
sixteen. The taxable quantity of Emily's social protection profits is: - ANS-$18,023
-Income (collectively) is over $44,000 in 2022.
-Therefore, 85% of SSA is taxable.
$21,203 * eighty five% = $18,022.25
17. The overall quantity of different earnings pronounced on the Lincoln's Form 1040,
Schedule 1 is $850. - ANS-False
$4,414 playing winnings + $one hundred seventy five lottery winnings + $850 debt
cancellation = $five,439.
18. What is the amount Robert is eligible to claim as certified educator costs on Form 1040,
Schedule 1? - ANS-$300
$733 unreimbursed lecture room exp. --> restrained to $300.
19. The Lincoln's fashionable deduction on their Form 1040 for tax 12 months 2022 is
$25,900. - ANS-False
$25,900 (MFJ) + $1,four hundred (Emily 65+ age) = $27,300
2. Failure of a VITA/TCE volunteer to conform with the Volunteer Standards of Conduct
should result in which of the subsequent? - ANS-a. The volunteer's removal from the
VITA/TCE application.
B. The volunteer's inclusion within the IRS Volunteer Registry to bar future VITA/TCE interest
indefinitely.
