1040s

Where should all Tax Return Attachments be saved?

• T Drive

• Desktop

• U Drive

• H Drive

Which of the following is NOT a filing status?

• Head of Household

• Qualifying Widow(er)

• Married Filing Separately

• None of the above

Why is Filing Status so important?

• It determines phase-outs

• It determines tax brackets

• It determines certain credits

• It determines all of the above

On which schedule would you find interest and dividends?

• Schedule D

• Schedule E

• Schedule C

• Schedule B

Does Schedule C include Rental Income?

• Yes

• No

What is the maximum deduction allowed for MFJ taxpayers that are deducting taxes on Schedule A?

• $10,000

• $7,500

• $12,000

• There is no limit

What percent of Prior Year tax must you pay to avoid estimated tax penalties under the Safe Harbor rules?

• 90%

• 95%

• 100%

• 50%

Which of the following is a NYS Addition on a taxpayer's return?

• NYS and Federal Pension

• NYS 529 Plan Contributions

• Interest income on US Gov't Bonds

• Interest income on non-NY State and Local Bonds

Where would you find information on gains/losses from investments?

• Schedule B

• Schedule D

• Schedule E

• Schedule A

What is the standard deduction for 2018 for an individual with "single" as their filing status?

• 6000

• 12000

• 8000

• 24000