Intuit Academy - Intro to Taxes
Module 1 Questions with 100%
Correct Answers
Form 1040 Correct Answer: The IRS Form 1040 is one of the official documents
that U.S. taxpayers use to file their annual income tax returns. Form 1040 is
divided into sections where taxpayers report their income and deductions to
determine the amount of tax they owe or the refund they can expect to
receive. Depending on the type of income you report, it may be necessary to
attach additional schedules and forms.
How many variations of form 1040 are there? Correct Answer: 4
Form 1040 - SR Correct Answer: - This version is for senior taxpayers (65 or older).
Identical to a normal 1040 but has larger print and includes charts to determine
the taxpayers standard deduction
Form 1040-NR Correct Answer: This form is for non-US citizens who do not hold a
green card and it is several pages longer than other versions.
From 1040-X Correct Answer: This form is for taxpayers who need to make
amendments to their tax return after previously filing a 1040
What items does the top of page one of the 1040 include? Correct Answer:
Basic information (name, DOB, SSN, Address)
Any standard deduction modifications
, Presidential Election Campaign Donations
Age/Blindness deduction
Filing status
What is Schedule 1 for? Correct Answer: Additional income and adjustments to
income
What are sources of other income? Correct Answer: Taxable refunds, credits, or
offsets of state and local Income taxes
Alimony Received
Business Income or loss
Other gains or losses
Unemployment compensation
Module 1 Questions with 100%
Correct Answers
Form 1040 Correct Answer: The IRS Form 1040 is one of the official documents
that U.S. taxpayers use to file their annual income tax returns. Form 1040 is
divided into sections where taxpayers report their income and deductions to
determine the amount of tax they owe or the refund they can expect to
receive. Depending on the type of income you report, it may be necessary to
attach additional schedules and forms.
How many variations of form 1040 are there? Correct Answer: 4
Form 1040 - SR Correct Answer: - This version is for senior taxpayers (65 or older).
Identical to a normal 1040 but has larger print and includes charts to determine
the taxpayers standard deduction
Form 1040-NR Correct Answer: This form is for non-US citizens who do not hold a
green card and it is several pages longer than other versions.
From 1040-X Correct Answer: This form is for taxpayers who need to make
amendments to their tax return after previously filing a 1040
What items does the top of page one of the 1040 include? Correct Answer:
Basic information (name, DOB, SSN, Address)
Any standard deduction modifications
, Presidential Election Campaign Donations
Age/Blindness deduction
Filing status
What is Schedule 1 for? Correct Answer: Additional income and adjustments to
income
What are sources of other income? Correct Answer: Taxable refunds, credits, or
offsets of state and local Income taxes
Alimony Received
Business Income or loss
Other gains or losses
Unemployment compensation
