EU2 Teens Tax Quiz

Jessica is 24 years old and lives in her own apartment. She earned $48,000 from her salaried position last year. Select all that apply to her situation

• Can be claimed as a dependent

• legally required to file tax return

• can't be claimed as a dependent

• doesn't need to file a tax return

Kathryn is 15 years old, a sophomore in high school, and lives with her parents. She had $200 in unearned income and earned $1,200 from her part-time job. Select all that apply to her situation

• Can be claimed as a dependent

• legally required to file tax return

• can't be claimed as a dependent

• doesn't need to file a tax return although she may want to as she may be eligible for a refund

Yanely is 18 years old, is a high school senior, and lives with her parents. She earned $6,300 from her part-time job. She claimed EXEMPT on her W-4 on her first day of work. Select all that apply to her situation

• Can be claimed as a dependent

• legally required to file tax return

• can't be claimed as a dependent

• doesn't need to file a tax return as filed exemption thus no taxes were withheld.

Ren is 21 years old and is a college senior. He lives at home with his parents and commutes to school. He earned $14,670 from his part-time job. Select all that apply to her situation

• Can be claimed as a dependent

• legally required to file tax return

• can't be claimed as a dependent

• doesn't need to file a tax return

You receive this form when you start your job.

• w2

• w4

• 1040

• 1040ez

You receive this form from your employer in January and use it to file your tax return.

• w2

• w4

• 1040

• 1040ez

If you expect to earn less than $13,850 (2023), and don't owe any income tax from the previous year what might you do to avoid taxes being taken from your paycheck and the need to file for a refund?

• File an exemption on your w4

• File an exemption on your 1040

• File an exemption on your w2

• Claim a dependent child on your w2

Which of the following criteria would need to be met to claim someone as a dependent on your taxes?

• Be a US citizen only

• you support them financially at a level of 50% or more.

• They have a social security #, Tax ID#, or Adoption Tax ID #

• They earn over $13,850, are married and file jointly

Which of the following best describes Gross Income?

• Gross income is the amount received before taxes and deductions such as FICA

• Gross income is the amount received before taxes and deductions such as your mortgage and utilities

• Gross income is the amount received after taxes and deductions such as FICA

• Gross income is the amount received after taxes and deductions such as your mortgage and utilities

Which of the following best describes Net Income?

• Net income is the amount received before taxes and deductions such as FICA

• Net income is the amount received before taxes and deductions such as your mortgage and utilities

• Net income is the amount received after taxes and deductions such as FICA

• Net income is the amount received after taxes and deductions such as your mortgage and utilities