Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bon course Question 71 of 75. Why would a taxpayer need to file Form 1040X, Amended U.S. Individual Income Tax Return? o To correct errors

image text in transcribed

image text in transcribedimage text in transcribed

Bon course Question 71 of 75. Why would a taxpayer need to file Form 1040X, Amended U.S. Individual Income Tax Return? o To correct errors and omissions on the original return that result in a change to the original tax liability, refund, or balance due To report original information before the end of the tax year when a return has not been filed previously To report information from a corrected income document before the original return has been filed. To report original information when the due date for the return has passed, and the return has not been previously filed A taxpayer whose only capital gain income consists of dividend distributions from a mutual fund investment should compute their tax liability using: Form 8949, Sales and Other Dispositions of Capital Assets. The Qualified Dividends and Capital Gain Tax Worksheet Schedule D, Capital Gains and Losses. The 2019 Tax Tables for Form 1040. OR BIOCK In 2018, Kirsten and Jeff paid $2,000 of qualified domestic adoption expenses. The adoption did not become final until 2019, and they paid an additional $3,000 in qualified expenses that year. Their moc gross income was $165,000. What is the maximum amount they may be eligible to claim for the Adoption Credit on their 2019 return? $2,000 $3,000 $5,000 o $14,000 Mark for follow up Question 35 of 75. What amount should a taxpayer with two dependent children under age 13 use to calculate their Child and Dependent Care Credit? The taxpayer spent $14,000 for childcare expenses during the year. TH wages exceeded the amount spent on childcare, and they did not receive any employer dependent care benefits. $0 $3,000 o $6,000 $14,000 Mark for follow up Question 36 of 75. Choose the response that accurately completes the following sentence. Claiming the Child and Dependent Care Credit is NOT allowed for taxpayers who: Are actively searching for employment. Lived with their spouse for the entire year, but will file a separate return. Are self-employed. Use the services of an independent caregiver, such as a nanny or babysitter

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cost Accounting Principles And Managerial Applications

Authors: Gerald R. Crowningshield

3rd Edition

0395178371, 978-0395178379

More Books

Students also viewed these Accounting questions

Question

Describe your perfect day.

Answered: 1 week ago