Question 55

George and Betty are married and file a joint return. They are both over age 65. George was quite ill (not COVID-19) and incurred considerable medical expenses during the year. Which of the following options is a qualified medical expense? a) Health Savings Account (HSA) payments. b) Surgery to treat defective vision. c) Life insurance premiums. d) Medicine purchased without a prescription.

Question 73

Kelly, a new tax preparer, is required to obtain a Preparer Tax Identification Number (PTIN). Kellys manager explains how using a PTIN can assist in preventing potential situations for Kelly in his role as a preparer.Which of the following situations is listed incorrectly as one which can be avoided by using a PTIN? a) Theft of the paid preparers Social Security number. b) Fraud involving the use of the paid preparers Social Security number. c) Invasion of the preparers privacy. d) An IRS understatement penalty.