
Unit 2 - Earning and Reporting Income Terms
Flashcard
•
Business
•
12th Grade
•
Practice Problem
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Which form reports all employment income and is included with your 1040 tax form?
Back
Form W-2
2.
FLASHCARD QUESTION
Front
Interest earned from banks and savings accounts is reported on which form?
Back
1099 INT
3.
FLASHCARD QUESTION
Front
Money paid to stockholders in return for their investments is reported on which form?
Back
1099 DIV
4.
FLASHCARD QUESTION
Front
A person claimed as a dependent on a tax return is known as a(n) ________.
Back
Exemption
5.
FLASHCARD QUESTION
Front
What is the form used to determine how much tax should be withheld from your paycheck?
Back
Form W-4
6.
FLASHCARD QUESTION
Front
Expenses you can subtract from adjusted gross income to determine your taxable income are called ________.
Back
Itemized deductions
7.
FLASHCARD QUESTION
Front
What is the term for a form that reports interest earned from banks?
Back
1099 INT
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