Intuit Academy Tax Level 1 Exam NEWEST 2025
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+||BRAND NEW VERSION!!
What's the significance of a tax filing status? - CORRECT ANSWER- The taxpayer's tax filing status
can significantly effect their tax bill and which tax forms they will need to fill out.
Who might use the "single" tax filing status? Unmarried people who do not qualify for another
filing status
Who might use the "Married filing jointly" filing status? - CORRECT ANSWER- Most married couple
Who might use the "Married filing separately" status? - CORRECT ANSWER- Married high earners,
people who think their spouses may be hiding income, or people whose spouses have tax
liability
Who might use "Head of household" status? - CORRECT ANSWER- Unmarried people paying at
least half the cost of housing and support for others
What are the five individual tax filing statuses? - CORRECT ANSWER- 1. Single
2. Married filing jointly
,3. Married filing separately
4. Head of household
5. Qualified widow or widower
Who might use "Qualified widow or widower" filing status? - CORRECT ANSWER- People who lost a
spouse and are supporting a child at home
What are some rules for using "Married filing jointly" tax filing status? - CORRECT ANSWER- - The
couple have to be legally married through the last day of the tax year
-If one of the spouse died during the tax year, the surviving spouse can use the "Married filing
jointly" tax filing status b
-When taxpayers file jointly, the IRS holds both taxpayers responsible for the taxes and any
interest or penalties due
How does using the "Qualified widow or widower" tax filing status benefit the taxpayer? -
CORRECT ANSWER- It lets the taxpayer file as if they were married and filing jointly, which allows
them a much higher standard deduction and puts them in a better tax bracket then if they filed
as a single.
How does using "Married filing jointly" tax filing status benefit the taxpayer? - CORRECT ANSWER-
Tax payers who file as married filing jointly likely have a lower tax bill then those who file
separately; their standard deduction would be higher; and they can take deductions and credits
that generally are not available if they file separately.
Who is considered "unmarried" for head of household filing status? - CORRECT ANSWER- - People
who are not legally married
-People whose spouses did not live in the house for the last six months of the tax year
(temporary absences do not count), they paid half the cost of keeping up the house, and the
house was their child's primary home.
-People who support a qualifying person in the household
,What does cost of keeping up the house mean? - CORRECT ANSWER- The cost of keeping up a
home includes paying property taxes, mortgage interest or rent, utilities, repairs and
maintenance, property insurance, food, and other household expenses
Who is a qualifying person for tax purposes? - CORRECT ANSWER- A child under 19 years of age; an
adult under 24 years of age who is a student living at home for more than half the year; A
parent who receives at least half their support from the taxpayer; and siblings and in-laws if the
taxpayer provides at least half their support for the year.
How does using "Head of household" tax filing status benefit the taxpayer? - CORRECT ANSWER-
This filing status allows the taxpayer to access significant tax deductions and more favorable tax
brackets than if they filed as single.
When should taxpayer use the "Qualified widow or widower" tax filing status? - CORRECT
ANSWER- The surviving spouse can file as "Married filing jointly" if their spouse died during the
tax payer, and they can use "Qualified widow or widower" tax filing status for the next two
years if they have a dependent child.
What is one requirement for being able use "Qualified widow or widower" tax filing status? -
CORRECT ANSWER- There must be a dependent child, and the surviving spouse must provide at
least half the cost of keeping up the house during the tax year.
Below the line deductions include
Standard deduction
Eligible educators can deduct up to _______ of qualified expenses paid during the tax year.
$250
Which of the following is an ineligible medical expense for HSA, Archer MSA, and MA MSA?
Breast enhancement
The net capital gain is taxed at _______ if the married filing jointly taxpayer income is less than
$80,800.
, 0%
To claim a child as a dependent, they must meet the qualifying child test or ________________.
qualifying relative test
Ordinary dividends are taxed at the same rate as __________ income tax rate.
ordinary
Distributions from HSA, Archer MSA, or MS MSA are non-taxable when
_________________________________________.
spent for qualified medical expenses of your dependent
Which residency status is used when an individual is neither a U.S. citizen nor a resident alien
for tax purposes?
Non-resident alien
_____________ and ____________ are what taxpayers must know to calculate their tax
amount.
Taxable income and filing status
For mortgages entered into after December 15, 2017, the amount of interest the taxpayer can
deduct is no more than ______________ of the debt used to buy, build, or substantially
improve their principal home and a second home.
750,000
__________ reduce the amount of tax due.
Tax credits
Which form is for beneficiaries who get income from trusts and estates?
Form 1041
___________________ consists of both earned and unearned income that is used to calculate
the tax. It is generally less than adjusted gross income due to the deductions.
Taxable income
To satisfy the Substantial Presence Test, how many minimum days (in the current year) must
you be physically present in the United States?
COMPLETE QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+||BRAND NEW VERSION!!
What's the significance of a tax filing status? - CORRECT ANSWER- The taxpayer's tax filing status
can significantly effect their tax bill and which tax forms they will need to fill out.
Who might use the "single" tax filing status? Unmarried people who do not qualify for another
filing status
Who might use the "Married filing jointly" filing status? - CORRECT ANSWER- Most married couple
Who might use the "Married filing separately" status? - CORRECT ANSWER- Married high earners,
people who think their spouses may be hiding income, or people whose spouses have tax
liability
Who might use "Head of household" status? - CORRECT ANSWER- Unmarried people paying at
least half the cost of housing and support for others
What are the five individual tax filing statuses? - CORRECT ANSWER- 1. Single
2. Married filing jointly
,3. Married filing separately
4. Head of household
5. Qualified widow or widower
Who might use "Qualified widow or widower" filing status? - CORRECT ANSWER- People who lost a
spouse and are supporting a child at home
What are some rules for using "Married filing jointly" tax filing status? - CORRECT ANSWER- - The
couple have to be legally married through the last day of the tax year
-If one of the spouse died during the tax year, the surviving spouse can use the "Married filing
jointly" tax filing status b
-When taxpayers file jointly, the IRS holds both taxpayers responsible for the taxes and any
interest or penalties due
How does using the "Qualified widow or widower" tax filing status benefit the taxpayer? -
CORRECT ANSWER- It lets the taxpayer file as if they were married and filing jointly, which allows
them a much higher standard deduction and puts them in a better tax bracket then if they filed
as a single.
How does using "Married filing jointly" tax filing status benefit the taxpayer? - CORRECT ANSWER-
Tax payers who file as married filing jointly likely have a lower tax bill then those who file
separately; their standard deduction would be higher; and they can take deductions and credits
that generally are not available if they file separately.
Who is considered "unmarried" for head of household filing status? - CORRECT ANSWER- - People
who are not legally married
-People whose spouses did not live in the house for the last six months of the tax year
(temporary absences do not count), they paid half the cost of keeping up the house, and the
house was their child's primary home.
-People who support a qualifying person in the household
,What does cost of keeping up the house mean? - CORRECT ANSWER- The cost of keeping up a
home includes paying property taxes, mortgage interest or rent, utilities, repairs and
maintenance, property insurance, food, and other household expenses
Who is a qualifying person for tax purposes? - CORRECT ANSWER- A child under 19 years of age; an
adult under 24 years of age who is a student living at home for more than half the year; A
parent who receives at least half their support from the taxpayer; and siblings and in-laws if the
taxpayer provides at least half their support for the year.
How does using "Head of household" tax filing status benefit the taxpayer? - CORRECT ANSWER-
This filing status allows the taxpayer to access significant tax deductions and more favorable tax
brackets than if they filed as single.
When should taxpayer use the "Qualified widow or widower" tax filing status? - CORRECT
ANSWER- The surviving spouse can file as "Married filing jointly" if their spouse died during the
tax payer, and they can use "Qualified widow or widower" tax filing status for the next two
years if they have a dependent child.
What is one requirement for being able use "Qualified widow or widower" tax filing status? -
CORRECT ANSWER- There must be a dependent child, and the surviving spouse must provide at
least half the cost of keeping up the house during the tax year.
Below the line deductions include
Standard deduction
Eligible educators can deduct up to _______ of qualified expenses paid during the tax year.
$250
Which of the following is an ineligible medical expense for HSA, Archer MSA, and MA MSA?
Breast enhancement
The net capital gain is taxed at _______ if the married filing jointly taxpayer income is less than
$80,800.
, 0%
To claim a child as a dependent, they must meet the qualifying child test or ________________.
qualifying relative test
Ordinary dividends are taxed at the same rate as __________ income tax rate.
ordinary
Distributions from HSA, Archer MSA, or MS MSA are non-taxable when
_________________________________________.
spent for qualified medical expenses of your dependent
Which residency status is used when an individual is neither a U.S. citizen nor a resident alien
for tax purposes?
Non-resident alien
_____________ and ____________ are what taxpayers must know to calculate their tax
amount.
Taxable income and filing status
For mortgages entered into after December 15, 2017, the amount of interest the taxpayer can
deduct is no more than ______________ of the debt used to buy, build, or substantially
improve their principal home and a second home.
750,000
__________ reduce the amount of tax due.
Tax credits
Which form is for beneficiaries who get income from trusts and estates?
Form 1041
___________________ consists of both earned and unearned income that is used to calculate
the tax. It is generally less than adjusted gross income due to the deductions.
Taxable income
To satisfy the Substantial Presence Test, how many minimum days (in the current year) must
you be physically present in the United States?
