Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 41 of 70. Health insurance purchased through the Marketplace would be reported to the taxpayer on which form(s)? Form 1095-A. Form 1095-B. Form 1095-C.

Question 41 of 70.

Health insurance purchased through the Marketplace would be reported to the taxpayer on which form(s)?

Form 1095-A.

Form 1095-B.

Form 1095-C.

Forms 1095-B and 1095-C.

Mark for follow up

Question 42 of 70.

Which of these are ordinary dividends?

Dividends paid on a credit union savings account and reported on a Form 1099-INT.

Exempt-interest dividends paid by a mutual fund.

Capital gain distributions reported in box 3a of a Form 1099-DIV.

Dividends from stock reported in box 1a of a Form 1099-DIV.

Mark for follow up

Question 43 of 70.

Joe (55) and Gail (49) are filing jointly for 2020. Joe earned $40,000, and Gail earned $2,500. Joe may contribute up to $7,000 to his IRA for 2020. If Joe contributes $5,000 to his IRA, how much may they contribute to Gail's IRA for 2020?

$2,000

$2,500

$6,000

$7,000

Mark for follow up

Question 44 of 70.

Which of these is NOT among the most common reasons an e-filed tax return is rejected?

Use of an incorrect TIN on a tax return.

The preparer relied on nonstandard tax documents.

Mismatches between name and TIN.

The same TIN on more than one return.

Mark for follow up

Question 45 of 70.

Which of these is TRUE? A U.S. national _____.

Is the same as a resident of the United States.

Is a resident who owes their allegiance to American Samoa.

Is a U.S. citizen residing in Mexico or Canada.

Meets the citizenship or residence test for a dependent.

Mark for follow up

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

Step: 3

blur-text-image

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

Financial and Managerial Accounting

Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren

11th Edition

9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895

More Books

Students also viewed these Accounting questions

Question

How would additional funds be spent?

Answered: 1 week ago