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WorksheetsFundamentals
Total questions: 10
Worksheet time: 5mins
What is the applicable form for "Estates and Trusts"
1040
1065
1041
1120
Exclusions are income
Yes
No
What is the applicable form for "not U.S. Citizens"?
1040
They don't file a tax return
1040-X
1040-NR
The amount of income remaining after deducting either the standard deduction or itemized deductions and the qualified business deduction, if any, from adjusted gross income is called
Taxable Income
Tax liability
Gross income
Adjusted gross income
Which one is NOT a tax rate?
37%
22%
26%
12%
Which one is a non-refundable credit?
Recovery rebate credit
Foreign tax credit
Dependent care credit
Premium tax credit
They CAN'T pay taxes through...
Checks
EFTPS Online
Credit cards
Cash
If the annual acounting period begins on february 1st and ends on January 31st, it is a...
Calendar year
Fiscal year
Which one is NOT an accounting method?
Percentage of completion method
Completed contract method
Hybrid method
All of them are
What are the 3 factors of filing a US individual tax return?
Age, Gross Income, taxable Income
Age, Residency, Filing Status
Age, Gross Income, Filing Status
Age, Filing Status, Gross Income
