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H&R Block Virtual Income Tax Course
Chapters 1-6 Review Questions &
Answers
Chap. 1: Which of the following is earned income?
A. Dividends.
B. Graduation gift from parents.
C. self-employed business income.
D. Social Security payments. - correct-answer -C. self-employed business income.
Chap. 1: After a return is completed, what are the methods used to submit your
return to the IRS? Choose all that apply.
A. E-file.
B. Email.
C. U.S. Mail.
D. Fax - correct-answer -A. E-file.
C. U.S. Mail.
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Chap. 1: When filing a tax return for a deceased taxpayer, the surviving spouse will
need to file Form 1310, a Statement of Person Claiming a Refund Due to a
Deceased Taxpayer, to claim a refund. - correct-answer -False
Chap. 1: Which of the following statements is correct about interest?
A. Total interest of more than $1,500 from all sources must be reported on
Schedule B.
B. Credit Unions often call interest on deposits "dividends."
C. The amount of a penalty on early withdrawal of savings may be more than the
total amount of interest income received by the taxpayer.
D. U.S. Savings Bond & other Treasury obligation interest is taxable on the federal
return and all state returns.
E. Taxpayers will receiv - correct-answer -A. Total interest of more than $1,500
from all sources must be reported on Schedule B.
B. Credit Unions often call interest on deposits "dividends."
C. The amount of a penalty on early withdrawal of savings may be more than the
total amount of interest income received by the taxpayer.
H&R Block Virtual Income Tax Course
Chapters 1-6 Review Questions &
Answers
Chap. 1: Which of the following is earned income?
A. Dividends.
B. Graduation gift from parents.
C. self-employed business income.
D. Social Security payments. - correct-answer -C. self-employed business income.
Chap. 1: After a return is completed, what are the methods used to submit your
return to the IRS? Choose all that apply.
A. E-file.
B. Email.
C. U.S. Mail.
D. Fax - correct-answer -A. E-file.
C. U.S. Mail.
, 2|Page
Chap. 1: When filing a tax return for a deceased taxpayer, the surviving spouse will
need to file Form 1310, a Statement of Person Claiming a Refund Due to a
Deceased Taxpayer, to claim a refund. - correct-answer -False
Chap. 1: Which of the following statements is correct about interest?
A. Total interest of more than $1,500 from all sources must be reported on
Schedule B.
B. Credit Unions often call interest on deposits "dividends."
C. The amount of a penalty on early withdrawal of savings may be more than the
total amount of interest income received by the taxpayer.
D. U.S. Savings Bond & other Treasury obligation interest is taxable on the federal
return and all state returns.
E. Taxpayers will receiv - correct-answer -A. Total interest of more than $1,500
from all sources must be reported on Schedule B.
B. Credit Unions often call interest on deposits "dividends."
C. The amount of a penalty on early withdrawal of savings may be more than the
total amount of interest income received by the taxpayer.
