Answered step by step
Verified Expert Solution
Question
1 Approved Answer
TUTU V HOF VUITCH WUM SU TIGU TTVH part-time job, and she is required to file a 2020 tax return. How does she report the
TUTU V HOF VUITCH WUM SU TIGU TTVH part-time job, and she is required to file a 2020 tax return. How does she report the scholarship on her Form 1040? None of Pamelia's scholarship is included in her taxable income or reported on her return. She should enter "SCH" and $1,000 on the dotted line next to line 1 of Form 1040. She should enter "SCH" and $1,000 on the dotted line next to line 4 of Schedule 1 (Form 1040). She should enter "SCH" and $6.500 on the dotted line next to line 8 of Schedule 1 (Form 1040). Mark for follow up Question 30 of 75. A taxpayer who claims the standard deduction rather than itemizing may still be eligible to claim all of the following adjustments to income EXCEPT: O Educator expenses. Health savings account deduction. Medical expense deduction. O Student loan interest deduction. Mark for follow up Question 31 of 75. Jackson and Elsa, a married couple who will file jointly, are both teachers. In 2020, Jackson had receipts totaling $325 in qualifying expenses for his classroom. Elsa had receipts totaling $290. The maximum amount of educator expenses they may deduct is: $250 $370 $500 $615 Mark for follow up Question 32 of 75. Which of the following items is included in federal gross income? Alimony received in accordance with a divorce decree signed prior to 2019. No changes have been made to the agreement Compensatory damages received for personal physical injuries sustained in a car accident Life insurance proceeds paid due to the death of the insured. Welfare benefits. Mark for follow up Question 33 of 75. Social security disability income is: Never taxable. Taxable and reportable as pension income regardless of the taxpayer's age. Taxable and reportable as other income on line 8 of Schedule 1 (Form 1040). Taxed in the same manner as other social security benefits. Mark for follow up Back Save / Return Later Summary Next >> TUTU V HOF VUITCH WUM SU TIGU TTVH part-time job, and she is required to file a 2020 tax return. How does she report the scholarship on her Form 1040? None of Pamelia's scholarship is included in her taxable income or reported on her return. She should enter "SCH" and $1,000 on the dotted line next to line 1 of Form 1040. She should enter "SCH" and $1,000 on the dotted line next to line 4 of Schedule 1 (Form 1040). She should enter "SCH" and $6.500 on the dotted line next to line 8 of Schedule 1 (Form 1040). Mark for follow up Question 30 of 75. A taxpayer who claims the standard deduction rather than itemizing may still be eligible to claim all of the following adjustments to income EXCEPT: O Educator expenses. Health savings account deduction. Medical expense deduction. O Student loan interest deduction. Mark for follow up Question 31 of 75. Jackson and Elsa, a married couple who will file jointly, are both teachers. In 2020, Jackson had receipts totaling $325 in qualifying expenses for his classroom. Elsa had receipts totaling $290. The maximum amount of educator expenses they may deduct is: $250 $370 $500 $615 Mark for follow up Question 32 of 75. Which of the following items is included in federal gross income? Alimony received in accordance with a divorce decree signed prior to 2019. No changes have been made to the agreement Compensatory damages received for personal physical injuries sustained in a car accident Life insurance proceeds paid due to the death of the insured. Welfare benefits. Mark for follow up Question 33 of 75. Social security disability income is: Never taxable. Taxable and reportable as pension income regardless of the taxpayer's age. Taxable and reportable as other income on line 8 of Schedule 1 (Form 1040). Taxed in the same manner as other social security benefits. Mark for follow up Back Save / Return Later Summary Next >>
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started