HR Block Income Tax Midterm Exam (Latest 2024/ 2025 Update) Questions and Verified Answers| 100% Correct| Grade A

H & R Block Income Tax Midterm Exam

(Latest 2024/ 2025 Update) Questions and

Verified Answers| 100% Correct| Grade A

Q: Which of the following is not one of the four requirements to claim a dependent? D

Answer:

a) The dependent must be a qualifying child or qualifying relative.

b) The dependent must be a U.S. citizen or a resident of the United States, Canada, or Mexico.

c) If the dependent is married, they cannot be claimed as a dependent if they file a joint return

with their spouse.

d) The taxpayer must provide 100% of the dependent's support for the whole year.

Q: What are the five tests for a qualifying child? B

Answer:

a) Relationship, citizenship, age, support, and joint return.

b) Relationship, residency, age, support, and joint return.

c) Marital status, residency, age, support, and joint return.

d) Relationship, residency, age, support, and type of income

Q: What are the four tests for a qualifying relative? C

Answer:

a) Relationship or member of the household, gross income, support, and residency.

b) Relationship or member of the household, gross income, citizenship, and not a qualifying

child.

c) Relationship or member of the household, gross income, support, and not a qualifying child.

d) Relationship or member of the household, gross income, support, and be a qualifying child.

Q: Which of the following is not counted as support? A

Answer:

a) Life insurance premiums.

b) Lodging.

c) Clothing.

d) Entertainment.

Q: How much is the Child Tax Credit worth? A

Answer:

a) $1,000 per qualifying child.

b) $3,000 per qualifying child.

c) $4,050 per qualifying child.

d) $5,000 per qualifying child.

Q: Assuming all other requirements are met, how long may an eligible surviving spouse file as

a qualifying widow(er)? B

Answer:

a) One year.

b) Two years.

c) Three years.

d) Five years.

Q: Which form is required when a custodial parent releases their claim to the qualifying child

exemption to a noncustodial parent? D

Answer:

a) Form 8453.

b) Form 8283.

c) Form 8867.

d) Form 8332

Q: For 2017, what is the exemption amount for each qualifying child? C

Answer:

a) $1,000

b) $3,050

c) $4,050

d) $6,350

Q: For 2017, what is the standard deduction for the head of household filing status? C

Answer:

a) $4,050

b) $6,350

c) $9,350

d) $12,700

Q: What happens if more than one taxpayer submits a tax return claiming the same qualifying

child? A

Answer:

a) The IRS will apply the tie-breaker rules.

b) The IRS will delete the exemption from both tax returns.

c) The IRS will split the exemption between the two taxpayers.

d) Nothing. This is an allowed practice

Q: Taxpayers who have any financial interest in, or signature authority over, a financial account

(such as a bank account, securities account, or brokerage account) located in a foreign country

may have to file: A

Answer:

a) FinCEN Form 114

b) Form 1116.

c) Form 6251.

d) Form 8275.