H&R BLOCK MIDTERM REVIEW ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

H&R BLOCK MIDTERM REVIEW ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS Which of the following is considered earned income? C - Answer -a) Interest from a bank b) Unemployment compensation c) Income from farming d) Gambling winnings The tax on income that comes entirely from wages under $100,000 is determined according to the: A - Answer -a) Tax Tables b) Tax Computation Worksheet c) Qualified Dividends and Capital Gain Tax Worksheet d) Schedule D Tax Worksheet Which of the following shows these numbers rounded correctly: $31.43, $143.57, $369.22, $1,547.88. B - Answer -a) $32. $142. $368. $1,547. b) $31. $144. $369. $1,548. c) $31. $142. $369. $1,547.d) $32. $144. $368. $1,547. Which form is used by employers to report wages earned by their employees? A - Answer -a) Form W-2 b) Form W-4 c) Form 1040 d) Form 1040A What is the exemption amount for 2017? B - Answer -a) $3,850 b) $4,050 c) $5,050 d) $6,050 The following three factors determine the filing requirement for nondependents: B - Answer -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 The standard deduction on an income tax return is determined by: C - Answer -a) Citizenship b) Residency c) Filing status d) Gross income