2021 Advanced Test Question Check
If you have prepared taxes in the past, please make sure you review the 2021 changes to the tax law on the following BEFORE attempting the test  as there are many changes and they and HUGE!!

**Earned Income Tax Credit See PUB 4012 section I
**Child Tax Credit and Dependent Care Credit  See vitaresources.net CTC & DEPENDENT CARE 2021 tab and your PUB 4012
You can also learn more about changes to these 3 credits & more at vitaresources.net changes tab (or PUB 4491)

Ready to review your answers?  Please note: I am not reviewing entries or tracking emails-totally anonymous.
This is a tool to check your answers before you submit online in Link and Learn certification Site. There will be hints if you get the answer incorrect. This is designed to be a learning tool--get something wrong, please review your answer, research and find out why so we don't make mistakes on a real client's return.

If you find an error or disagree, please email me as I am human and could have made a mistake. maryvitataxes@gmail.com
Please note: PUB 4012 is available online https://www.irs.gov/pub/irs-pdf/p4012.pdf and is referenced here. The Table of Contents is great--click on page number and it will take you to the section wanted--also use <find> to find keywords to help.  
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1. What is the most beneficial filing status that Karen is eligible to claim on her 2021 tax return?
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2. Karen’s Economic Impact Payment (EIP3) must be included in her total income.
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3. What amount may Karen deduct as a charitable contribution when filing her 2021 tax return?
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4. What is the maximum amount Paul and Maggie are eligible to claim for the child tax credit?
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5. How much of the child care expenses can be used to claim the child and dependent care credit?
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6. Form 8889, Part 1 is used to report HSA contributions made by _______________.
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7. Carol is eligible to contribute an additional $________ to her HSA because she is age 55 or older.    ***Only enter numbers
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8. What is the total unreimbursed qualified medical expenses reported on Form 8889,Part II?
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9. For the purpose of determining dependency, Marie meets the conditions to be the qualifying child of _______________.
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10. Jenny is not eligible to claim Marie for the earned income credit because her filing status is Married Filing Separate.
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11. Michael’s mortgage insurance premium of $230 can be claimed as an itemized deduction on his Schedule A.
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12. What amount of gambling losses is Michael eligible to claim as a deduction on his Schedule A?
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13. Sean is not required to file a tax return because he has enough tax withholding to cover his tax liability.
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14. Which of the following is not a requirement for Sean to claim the earned income credit as a single person with no qualifying children in 2021?
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15. What is the taxable portion of Tara’s pension from Oak Enterprises using the simplified method?
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16. None of Tara’s social security income is taxable.
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17. What is the total amount of other income reported on the Washington’s Form 1040,Schedule 1 ?
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18. Gilbert is eligible to deduct $500 as an adjustment to income on Form 1040,Schedule 1 for qualified educator expenses.
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19. The Washington’s standard deduction on their 2021 tax return is $________. **Only enter numbers
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20. The total qualified expenses for the American Opportunity Credit are $ _________.  **Only enter numbers
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21. Which of the following credits are the Washingtons’ eligible to claim on their tax return?
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22. What is the Washington’s total federal income tax withholding? $________   *Only enter numbers
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23. What is the net short term capital gain reported on Cynthia’s Schedule D?
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24. Which of the following cannot be claimed as a business expense on Cynthia’s Schedule C?
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25. What is the amount Cynthia can take as a student loan interest deduction on her Form 1040, Schedule 1? $__________________   **Only enter numbers
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26. What is the total amount of advanced premium tax credit that Cynthia received in 2021?
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27. What is the amount of Cynthia’s lifetime learning credit? $_______________.  **Only enter numbers
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28. Cynthia will have to pay $200 additional tax because she received the early distribution from her IRA.
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29. How can Cynthia prevent having a balance due next year?
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30. What is Richard’s most advantageous filing status?
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31. Richard’s adjusted gross income on his Form 1040 is $__________?  **Only enter numbers
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32. Richard can claim the following credits on his tax return.
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33. Richard’s Retirement Savings Contributions Credit on Form 8800 is $_______.  **Only enter numbers
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34. Richard will use his 2019 earned income rather than his 2021 earned income to calculate the earned income tax credit on his 2021 tax return because his 2019 earned income is higher than his 2021 earned income.
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35. Richard’s child and dependent care credit from Form 2441 is reported as a nonrefundable credit on Form 1040, Schedule 3.  **Please note, as of 11/19/21 this credit has not been updated to meet the 2021 rules and is not calculating correctly --so don't rely on the printed tax return but answer the question by reviewing what are the rules, how will this credit work for 2021? See note in vitaresources.net above this form
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