Intuit Tax 1
Study online at https://quizlet.com/_dg3e5c
1. The are _________ filing statuses. Five.
Single
Married Filing Jointly
Married Filing Separately
Head of Household
Qualifying Widow(er)
2. Which is a non-deductible busi- family vacation
ness expense?
investments made in your busi-
ness
costs of goods sold
family vacation
employees' pay
3. The self-employed health insur- one-half
ance deduction is limited to the
net self-employment profit shown
on the return reduced by the
deduction for ____________ of the
self-employment tax.
4. Which is considered an adjust- Moving Expense
ment to Gross Income?
Moving Expense
Employee Wages
Municipal bond interest
Workers' compensation pay-
ments received as compensation
for personal injury or sickness
1/9
, Intuit Tax 1
Study online at https://quizlet.com/_dg3e5c
5. short-gains gains on assets that you have held for one year or less.
6. ______________ is used to offset in- Earned Income Tax Credi
come and payroll taxes for low-in-
come workers and to provide an
incentive to work.
7. To satisfy the Substantial Pres- 31 days
ence Test, how many minimum
days (in the current year) must
you be physically present in the
United States?
8. Which is not a common tax credit? American Family Credit
9. Which is not considered a gam- games of chance
bling winning?
10. Ordinary dividends are taxed at ordinary
the same rate as __________ in-
come tax rate.
11. Social Security benefits can 85
be taxed to a maximum of
___________% based on the benefi-
ciary's annual income
12. Taxable interest is reported on Form 1099-INT
13. Distributions from HSA, Archer spent for qualified medical expenses of your dependent
MSA, or MS MSA are non-taxable
when
_________________________________________.
2/9
Study online at https://quizlet.com/_dg3e5c
1. The are _________ filing statuses. Five.
Single
Married Filing Jointly
Married Filing Separately
Head of Household
Qualifying Widow(er)
2. Which is a non-deductible busi- family vacation
ness expense?
investments made in your busi-
ness
costs of goods sold
family vacation
employees' pay
3. The self-employed health insur- one-half
ance deduction is limited to the
net self-employment profit shown
on the return reduced by the
deduction for ____________ of the
self-employment tax.
4. Which is considered an adjust- Moving Expense
ment to Gross Income?
Moving Expense
Employee Wages
Municipal bond interest
Workers' compensation pay-
ments received as compensation
for personal injury or sickness
1/9
, Intuit Tax 1
Study online at https://quizlet.com/_dg3e5c
5. short-gains gains on assets that you have held for one year or less.
6. ______________ is used to offset in- Earned Income Tax Credi
come and payroll taxes for low-in-
come workers and to provide an
incentive to work.
7. To satisfy the Substantial Pres- 31 days
ence Test, how many minimum
days (in the current year) must
you be physically present in the
United States?
8. Which is not a common tax credit? American Family Credit
9. Which is not considered a gam- games of chance
bling winning?
10. Ordinary dividends are taxed at ordinary
the same rate as __________ in-
come tax rate.
11. Social Security benefits can 85
be taxed to a maximum of
___________% based on the benefi-
ciary's annual income
12. Taxable interest is reported on Form 1099-INT
13. Distributions from HSA, Archer spent for qualified medical expenses of your dependent
MSA, or MS MSA are non-taxable
when
_________________________________________.
2/9
