H & R Block Midterm Review Questions And Answers
2024/2025 Updated Quiz
, H & R Block Midterm Review Questions And Answers
2024/2025 Updated Quiz
Some types of income do not need to be reported anywhere on a federal tax return.
This includes all of the following EXCEPT:
A.) Most medical insurance proceeds
B.) Worker's compensation paid to an employee who was injured on the job.
C.) Welfare benefits
D.) Unemployment compensation - Answer D.) Unemployment compensation
Which of the following is considered earned income?
A.) Interest from a bank account.
B.) Unemployment compensation
C.) Income from farming
D.) Gambling Winnings - Answer C.) Income from farming
Which of the following shows these numbers rounded correctly: $31.43, $143.57,
$369.22, $1,547.88?
A.) $32. $142. $368. $1,547
B.) $31. $144. $369. $1,548
C.) $31. $142. $369. $1,547.
D.) $32. $144. $368. $1,547 - Answer B.) $31. $144. $369. $1,548
The tax on income that comes entirely from wages under $100,000 is determined
according to the?
A.) Tax tables
B.) Tax computation worksheet
C.) Qualified dividends and capital gains worksheet
D.) schedule D tax worksheet - Answer A.) Tax tables
Which form is used by employers to report wages earned by their employees?
A.) Form W-2
B.) Form W-4
C.) Form 1098-T
D.) Form 1099-R - Answer A.) Form W-2
Nathan Bayer is a single taxpayer. His 2018 taxable income was $57,474. What is
Nathan's 2018 federal income tax?
A.) $5,749
B.) $6898
C.) $8584
D.) $12,644 - Answer C.) $8584
Which of the following three factors determine the filing requirement for
nondependents?
A.) Marital status, age, and residency.
B.) Marital status, age, and gross income
C.) Marital status, age, and taxable income
D.) Marital status, age, and total deductions. - Answer B.) Marital status, age, and
gross income
The standard deduction on an income tax return is determined by:
2024/2025 Updated Quiz
, H & R Block Midterm Review Questions And Answers
2024/2025 Updated Quiz
Some types of income do not need to be reported anywhere on a federal tax return.
This includes all of the following EXCEPT:
A.) Most medical insurance proceeds
B.) Worker's compensation paid to an employee who was injured on the job.
C.) Welfare benefits
D.) Unemployment compensation - Answer D.) Unemployment compensation
Which of the following is considered earned income?
A.) Interest from a bank account.
B.) Unemployment compensation
C.) Income from farming
D.) Gambling Winnings - Answer C.) Income from farming
Which of the following shows these numbers rounded correctly: $31.43, $143.57,
$369.22, $1,547.88?
A.) $32. $142. $368. $1,547
B.) $31. $144. $369. $1,548
C.) $31. $142. $369. $1,547.
D.) $32. $144. $368. $1,547 - Answer B.) $31. $144. $369. $1,548
The tax on income that comes entirely from wages under $100,000 is determined
according to the?
A.) Tax tables
B.) Tax computation worksheet
C.) Qualified dividends and capital gains worksheet
D.) schedule D tax worksheet - Answer A.) Tax tables
Which form is used by employers to report wages earned by their employees?
A.) Form W-2
B.) Form W-4
C.) Form 1098-T
D.) Form 1099-R - Answer A.) Form W-2
Nathan Bayer is a single taxpayer. His 2018 taxable income was $57,474. What is
Nathan's 2018 federal income tax?
A.) $5,749
B.) $6898
C.) $8584
D.) $12,644 - Answer C.) $8584
Which of the following three factors determine the filing requirement for
nondependents?
A.) Marital status, age, and residency.
B.) Marital status, age, and gross income
C.) Marital status, age, and taxable income
D.) Marital status, age, and total deductions. - Answer B.) Marital status, age, and
gross income
The standard deduction on an income tax return is determined by:
