VITA Basic Test Prep Questions with Correct Answers

VITA Basic Test Prep Questions with Correct Answers If your spouse itemizes should you do standard deduction (Y/N)? - Answer-N Do normal commutes (non-business) qualify as a deductible when itemizing deductions (Y/N)? - Answer-N Davin is 23 years old, not blind, and provided for all of his own support during 2018. Davin is filing as married filing separately. Davin knows that his spouse is filing using an itemized deduction. Davin is a legal resident and has a valid social security number. Which deduction does he qualify for? - Answer-Neither What does vita stand for? - Answer-Volunteer Income Tax Assistance Which range of incomes does VITA serve? - Answer-$ Which software is used for VITA - Answer-Taxslayer Pro Who is the individual that checks all the numbers with the taxpayer? - Answer-Quality Reviewer Most advantageous filing status - Answer-Married Filing Jointly Least advantageous filing status - Answer-Married filing Seperately • Have had a spouse who died in either of the two prior years.• Have a child, stepchild, or adopted child who qualifies as the taxpayer's dependent for the year or would qualify as the taxpayer's dependent• Live with this child in the taxpayer's home all year, except for temporary absences. • Have paid more than half the cost of keeping up the home for the year. What type of filing status is this? - Answer-Widower Can you still be married filing jointly if your spouse is dead?(For one year after spouse dies)? (Y/N) - Answer-Y • Are unmarried or "considered unmarried" on the last day of the tax year• Paid more than half the cost of keeping up a home for the required period of time• Had a qualifying person living in their home for more than half the year (except for temporary absences, such as school) What type of filing status is this? - Answer-Head of Household People in this filing category may also be a Head of Household - Answer-Single Your own child that you take care of is a... (Under 19, living with you for at least half year) - Answer-dependent Two types of education credits(abbreviations only) - Answer-AOTC and LLC 40% of this tax credit is refundable - Answer-AOTC Max of $2,000 in credit - Answer-LLC Max of $2,500 in credit - Answer-AOTC Available for all years of post-secondary education and for courses to acquire or improve job skills - Answer-LLC