Intuit Academy Tax Course One Questions with 100% Correct Answers

Intuit Academy Taxes Questions with
100% Correct Answers
Manny is filling out his Form 1040. His taxpayer questionnaire contains the
following information:


Income


Form W2:


First company: $28,000


Second company: $12,500


Third company: $9,300


Form 1099-INT:


First bank: $3


Second bank CD: $225


My personal loans: $45


What amount should be placed on Line 1? Correct Answer: $49,800


Manny is filling out his Form 1040. His taxpayer questionnaire contains the
following information:


Income


Form W2:

, First company: $28,000


Second company: $12,500


Third company: $9,300


Form 1099-INT:


First bank: $3


Second bank CD: $225


My personal loans: $45


What amount should be placed on Line 2b? Correct Answer: $273


Heather has two children as of December 31, 2023. Bobby is age 14 and Becki is
age 4. What is the amount Heather may be eligible to claim for the Child Tax
Credit? Correct Answer: $4,000


In 2023, Michelle has a net long-term capital loss reported on Schedule D, Line
15 of ($9,575) with no other capital gains or losses reported. How much of this
loss can be carried over to 2023? Correct Answer: ($6,575)


Giselle is filling out her Form 1040. Her taxpayer questionnaire contains the
following information:


IncomeForm W2:


First company: $115,000


Form 1099-INT:Second bank CD: $125Form 1099-DIV:


- company a: $300