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Question 1 of 65. To qualify for a HSA Deduction, an individual must meet all of the following criteria EXCEPT: Be in a high-deductible health
Question 1 of 65. To qualify for a HSA Deduction, an individual must meet all of the following criteria EXCEPT: Be in a high-deductible health plan. Use all current-year contributions to pay current-year medical expenses. Not exceed maximum contribution limits. Not be claimed as a dependent on someone else's return. Mark for follow up Question 2 of 65. Which of the following is NOT considered a deductible moving expense? Cost of storage for household goods. Cost of meals purchased while traveling to a new home. Mileage on a vehicle used to move household goods. Cost of lodging while traveling to a new home. Mark for follow up Question 3 of 65. Which of the following is not reported on line 7 of Form 1040? Alimony received from a taxpayer's ex-husband. The ex-husband's income was 100% derived from his wages. Payments from a disability pension received by a person who has not yet reached normal retirement age. Wages of $1,000 received by a nanny working in a private household. The nanny did not receive a Form W-2 from his employer. A scholarship used to pay for housing expenses. Mark for follow up Question 4 of 65. Which of the following is NOT a write-in adjustment on Form 1040, line 36? Deductible contribution to an Archer MSA. Repayment of jury duty to employer. Deductible attorney fees for actions involving certain unlawful discrimination claims. Deductible contributions to a 401(k). Mark for follow up Question 5 of 65. Which of the following is not reported on line 21 of Form 1040? Prizes and awards. Jury duty pay. Long-term disability insurance payments. Canceled debts. Mark for follow up Question 6 of 65. Which of the following taxpayers must File Form 1040? A taxpayer who wishes to claim the Retirement Savings Contributions (Saver's) Credit. A taxpayer who received income from self-employment. A taxpayer who wishes to deduct a contribution to her IRA. A taxpayer who received qualified dividends from a stock he owns. Mark for follow up Question 7 of 65. Lily is an elementary school teacher. This year, during her summer break, she took a trip to Atlantic City and won $4,000 playing the slot machines. Where should Lily report this income? Lily does not need to report this income because the casino, not Lily, is responsible for withholding and paying the income taxes on gambling winnings. Lily does not need to include this income on her return because gambling winnings are excluded from the definition of gross income. Lily should file a Schedule C (or Schedule C-EZ) and include her winnings there. Lily should include the winnings directly on Form 1040, line 21. Mark for follow up Question 8 of 65. What is the maximum student loan interest deduction? $1,500 $2,000 $2,500 $3,000 Mark for follow up Question 9 of 65. Which of the following is NOT an adjustment that may be claimed on page 1 of Form 1040? Business expenses of reservist who traveled more than 100 miles from home to perform services for the National Guard. Expenses for business use of car for an employee. The cost of health insurance for a self-employed person. The cost of school supplies for an eligible educator.
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