61. Wendy received the following dividend income:

Capital, Inc. (ordinary dividends) $ 68

ERC (ordinary dividends) $757

Maapco (ordinary) $814

Maapco (reinvested) $858

Federal Credit Union $910

What is the amount to be reported on line 6, Schedule B?

a) $1,639

b) $2,497

c) $ 858 (not required to use Schedule B)

d) $1,768

62. Mark and Alice had the following income:

Dividends from the credit union $ 974

Interest from National Bank $ 875

Conco ordinary dividends $ 658

Duval Fund (ordinary dividends) $ 169

Municipal bond interest $ 205

Series EE bond interest (education expenses) $ 547

Media Corp (liquidating dividends) $ 245

Interest received on a personal loan $1,458

What amount should be on Schedule B, Part I, line 2?

a) $3,854

b) $2,333

c) $3,307

d) $3,512

63. Mark and Alice had the following income:

Dividends from the credit union $ 974

Interest from National Bank $ 875

Conco ordinary dividends $ 658

Duval Fund (ordinary dividends) $ 169

Municipal bond interest $ 205

Series EE bond interest (education expenses) $ 547

Media Corp (liquidating dividends) $ 245

Interest received on a personal loan $1,458

What is the amount of income to be reported on line 6, Part II, Schedule B?

a) $1,072

b) $2,046

c) $ 827

d) $1,801

64. Mark and Alice had the following income:

Dividends from the credit union $ 974

Interest from National Bank $ 875

Conco ordinary dividends $ 658

Duval Fund (ordinary dividends) $ 169

Municipal bond interest $ 205

Series EE bond interest (education expenses) $ 547

Media Corp (liquidating dividends) $ 245

Interest received on a personal loan $1,458

What is the amount of income to be reported on line 4, Part I, Schedule B?

a) $4,059

b) $2,333

c) $3,307

d) $3,854

65. Tony is a new tax preparer. The office manager at the location where he works cautions Tony

about common interview mistakes. Which of the following is a common mistake tax preparers

make when interviewing clients or potential clients?

a) Using Head of Household status for taxpayers who do not qualify

b) Asking questions to determine if spouses have lived together during the last six months

of the year

c) Using Qualifying Widow(er) status for a taxpayer who is a widow(er) and also has a

qualifying child

d) Preparing a tax return with a 1099R with a determinable taxable amount

66. In 2014 Josephine found an error in her 2012 return. She amended her return and found that

the IRS owed her an additional refund. She received her refund with interest on September

30, 2014. In what tax year should Josephine report the interest income?

a) 2013

b) 2012

c) 2014

d) Not taxable

75. Danika is a single mother with three children, ages 3, 7, and 9. Danika's tax return shows an

AGI of $32,765 which includes earned income of $32,700 and interest income of $65. She

meets the requirements for filing status Head of Household and supports her family without

any additional help from other sources. Which of the following statements is true?

a) Danika's EIC will be based on her earned income alone without considering her AGI

b) Danika's EIC will be the smaller of the two EIC amounts based on her AGI or her earned

income

c) Danika's EIC will be based on her AGI without considering the earned income amount

d) Danika is not eligible to receive EIC

d) Schedule B does not need to be completed.