Question
1) Which of the following types of gross income can be reported on Form 1040-SR in 2020? wages, tips, taxable scholarships, dividends, and interest. wages,
1) Which of the following types of gross income can be reported on Form 1040-SR in 2020?
wages, tips, taxable scholarships, dividends, and interest.
wages, tips, taxable scholarship, interest, and unemployment compensation
wages, tips, annuities, pensions, and interest.
wages, pensions, and interest.
all of the above.
2) In 2019, a couple pays $10,000 towards the adoption of a U.S. born child. The couple pays another $10,000 in 2020 when the adoption is finalized. In both years, AGI is less than $150,000. Which of the following statements best describes the couple's adoption credit?
The couple is entitled to a $10,000 adoption credit in 2019, and a $4,300 adoption credit in 2020.
The couple is entitled to a $20,000 adoption credit in 2020.
The couple is entitled to a $14,300 adoption credit in 2020, and will carry over $5,700 to deduct in 2021.
The couple is entitled to a $10,000 adoption credit in 2019, a $10,000 adoption credit in 2020.
The couple is entitled to a $14,300 adoption credit in 2020.
3) The maximum child and dependent care credit that a married couple with three qualifying children can claim is:
$2,100.
$1,800.
$3,150.
$1,200.
$2,400.
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