VITA 2024 Advanced Test 100% Correct

VITA 2024 Advanced Test 100% Correct Head of Household -Answer-1. What is the most beneficial filing status that Karen is eligible to claim on her 2021 tax return? False -Answer-2. Karen's Economic Impact Payment (EIP3) must be included in her total income. $300 -Answer-3. What amount may Karen deduct as a charitable contribution when filing her 2021 tax return? $6,600 -Answer-4. What is the maximum amount Paul and Maggie are eligible to claim for the child tax credit? $3,500 -Answer-5. How much of the child care expenses can be used to claim the child and dependent care credit? All the above -Answer-6. Form 8889, Part 1 is used to report HSA contributions made by _______________. 1000 -Answer-7. Carol is eligible to contribute an additional $________ to her HSA because she is age 55 or older. $2,980 -Answer-8. What is the total unreimbursed qualified medical expenses reported on Form 8889, Part II? Barbara and Jenny -Answer-9. For the purpose of determining dependency, Marie meets the conditions to be the qualifying child of _______________. False -Answer-10. Jenny is not eligible to claim Marie for the earned income credit because her filing status is Married Filing Separate. True -Answer-11. Michael's mortgage insurance premium of $230 can be claimed as an itemized deduction on his Schedule A. $1000 -Answer-12. What amount of gambling losses is Michael eligible to claim as a deduction on his Schedule A