IRS VITA/TCE Advanced Certification
2024/2025 Exam Questions and Verified
Answers | Already Graded A+
Maximum Foreign Income Exclusion (Changes to 2016) - 🧠ANSWER
✔✔Increased to $101,300
Maximum Foreign Housing Exclusion (Changes to 2016) - 🧠ANSWER
✔✔Increased to $44.28 per day
Modified Adjusted Gross (AGI) Limit (IRAs and Other Retirement Plans) -
🧠ANSWER ✔✔*Max IRA Deduction remains at $5,500, ($6500 if age 50
older)
** If a taxpayer is covered by a retirement plan at work, the deduction for
contributions to a traditional IRA is reduced (phased out) if the modified
AGI is:
**More than $98,000 but less than $118,000 for Married Filing Jointly
taxpayers or Qualifying Widow(er) if both spouses are covered by a
retirement plan.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 1
STATEMENT. ALL RIGHTS RESERVED
, **More than $61,000 but less than $71,000 for a Single or Household or
**Less than $10,000 for Married filing separately
***For an IRA Contributor who is not covered by a workplace retirement
plan and is Married to someone who is covered, the deduction is phased
out if the couple's income is between $184,000 & $194,000
Revenue Procedure 2016-47 (Changes to 2016 NEW IRA Self-Certification
Procedure) - 🧠ANSWER ✔✔Explains a self-certification procedure
designed to help recipients of retirement plan distributions who
inadvertently miss the 60-day time limit for properly rolling these amounts
into another retirement plan or individual retirement arrangement (IRA).
Eligible taxpayers can qualify for a waiver of the 60-day time limit and avoid
possible taxes and penalties on early distributions, if they meet certain
circumstances. Taxpayers who missed the time limit will now ordinarily
qualify for a waiver if one or more of 11 circumstances, listed in the
revenue procedure, apply:
**An error was committed by the financial institution making the distribution
or receiving the contribution.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 2
STATEMENT. ALL RIGHTS RESERVED
2024/2025 Exam Questions and Verified
Answers | Already Graded A+
Maximum Foreign Income Exclusion (Changes to 2016) - 🧠ANSWER
✔✔Increased to $101,300
Maximum Foreign Housing Exclusion (Changes to 2016) - 🧠ANSWER
✔✔Increased to $44.28 per day
Modified Adjusted Gross (AGI) Limit (IRAs and Other Retirement Plans) -
🧠ANSWER ✔✔*Max IRA Deduction remains at $5,500, ($6500 if age 50
older)
** If a taxpayer is covered by a retirement plan at work, the deduction for
contributions to a traditional IRA is reduced (phased out) if the modified
AGI is:
**More than $98,000 but less than $118,000 for Married Filing Jointly
taxpayers or Qualifying Widow(er) if both spouses are covered by a
retirement plan.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 1
STATEMENT. ALL RIGHTS RESERVED
, **More than $61,000 but less than $71,000 for a Single or Household or
**Less than $10,000 for Married filing separately
***For an IRA Contributor who is not covered by a workplace retirement
plan and is Married to someone who is covered, the deduction is phased
out if the couple's income is between $184,000 & $194,000
Revenue Procedure 2016-47 (Changes to 2016 NEW IRA Self-Certification
Procedure) - 🧠ANSWER ✔✔Explains a self-certification procedure
designed to help recipients of retirement plan distributions who
inadvertently miss the 60-day time limit for properly rolling these amounts
into another retirement plan or individual retirement arrangement (IRA).
Eligible taxpayers can qualify for a waiver of the 60-day time limit and avoid
possible taxes and penalties on early distributions, if they meet certain
circumstances. Taxpayers who missed the time limit will now ordinarily
qualify for a waiver if one or more of 11 circumstances, listed in the
revenue procedure, apply:
**An error was committed by the financial institution making the distribution
or receiving the contribution.
COPYRIGHT©NINJANERD 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE. PRIVACY 2
STATEMENT. ALL RIGHTS RESERVED
