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H&R BLOCK INCOME TA X FINAL EXAM
NEWEST 2025 ACTUAL EXAM COMPLETE 140
QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |100%
GUARANTEED PASS!!
What are the three factors needed to determine the filing requirement for a nondependent? - ANSWER-Filing status, age, and income.
Which of these individuals would be subject to the "kiddie tax"?
- ANSWER-Kyle, age 14, earned 1,000 in interest and had a
1,800 royalty from a family oil well. He had no other income.
The "kiddie tax" applies to children under the age of 19 (or 24 if they are full-time students) who have unearned income above a certain threshold. The tax is designed to tax unearned income (like interest, dividends, and royalties) at the parent's tax rate rather than the child's lower rate.
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Alex and Karina were married on October 15, 2023. They wish to file only one return. What is Alex's and Karina's correct and most favorable 2023 filing status? - ANSWER-Married filing jointly
Roberto (22) lived with his father, Diego (45), all year in 2023.Roberto is Diego's qualifying child. In November 2023, Roberto married Valentina (21), and they both lived with Diego for the remainder of the year. Roberto is full0time student, he did not work, and he had no income. Valentina earned $3,400, all from wages, and had not other income. Valentina had $300 in federal income tax withheld from her paychecks during the year.Roberto and Valentina did not provide more than half of their own support. Which of the following statements is correct? - ANSWER-Diego may claim Roberto even if Roberto and Valentina file a joint return to get a refund of the taxes withheld from Valentina's wages.
Which taxpayer has a potential qualifying relative that meets the relationship or member of the household test? - ANSWER- Nova's father, Kelvin, lived with her since 2022. Kelvin died on March 1, 2023.
Beth is a qualifying child to three taxpayers: 2 / 4
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Her grandfather, whose AGI is $6,799.Her father, whose AGI is $26,222.Her uncle, whose AGI is $64,499.
Which taxpayer is entitled to claim Beth, if all three wish to do so? - ANSWER-Her father, whose AGI is $26,222.
The Child Tax Credit may be limited, reduced or excluded entirely due to the phaseout. What is the reduction of the Child Tax Credit for taxpayers with modified adjusted gross income over the threshold? - ANSWER-$50 for each $1,000 (or a fraction thereof) over the threshold
Sam lives with his daughter, June. Sam recieved $5,500 in social security benefits. He used $2,400 for rent, $1000 for food, $1,500 for recreation, $500 for the doctor, and $100 for eyeglasses. What amount of support must June pay to claim Sam as a qualifying relative? - ANSWER-more than $2,750
$5,500 / 2 = $2,750
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Makayla and her daughter , Jade (5), lived all year with Makayla's mother, Yasmin. Yasmin paid the entire cost of keeping up the home. Makayla's adjusted gross income (AGI) was $13,000, and Yasmin's AGI was $39,000. Jade meets the requirements of a qualifying child dependent for both Makayla and Yasmin. Yasmin would like to claim her granddaughter, Jade As Yasmin's tax preparer, what information would you share with Yasmin?
A.As long as Yasmin files before Makayla, she may claim Jade since Jade meets the requirements of a qualifying child for Yasmin.... - ANSWER-18
Which of the following taxpayers may use the qualifying surviving spouse filing status for 2023? - ANSWER-Becky qualifies for the qualifying surviving spouse filing status
Maria is not married. Her son, Diego, lived with her all year. To
claim the filing status of head of household, Maria must: -
ANSWER-Pay over half of the cost of maintaining the household for herself and Diego.
Tiana and Sal divorced in 2021. During 2023, their son Nick lived with his mother, Tiana, Tiana's mother (Andrea), and
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