can i please get help with my home work ?

Question 26 Which of the following is a requirement for a taxpayer with a qualifying child to claim the Earned Income Tax Credit (EITC)? They must be a U.S. citizen, resident alien, or resident of Mexico or Canada. They must be at least 25 years old, but younger than age 65, on December 31, 2019. They cannot have any investment income. They cannot be the qualifying child of another person. Question 27 Which of the following tax benefits may reduce a taxpayer's tax liability below zero? Adjustment. Deduction. Nonrefundable credit. Refundable credit. Question 28 Which of these is a requirement for a taxpayer without a qualifying child to claim the Earned Income Tax Credit (EITC)? Their investment income cannot exceed $1,500 for the year. They must be at least 25 years old, but younger than age 65, on December 31, 2019. They must be a U.S. citizen or resident alien, or have resided in Mexico or Canada for more than half the year. They must have a valid social security number or individual taxpayer identification number (ITIN). Mark for foll Question 29 Which of the following items is included in federal gross income? Alimony received in accordance with a divorce decree signed prior to 2019. No changes have been made to the agreement. Compensatory damages received for personal physical injuries sustained in a car accident. Life insurance proceeds paid due to the death of the insured. Welfare benefits. Question 30 Cory (31) may not be claimed as a dependent on anyone else's return. His filing status is single. During the year, he paid $4,200 in qualified student loan interest. His modified adjusted gross income prior to subtracting any deductions is $109,000. If he has no other adjustments to income, what is the maximum amount he may claim for the student loan interest deduction? $0 $1,667 $2,500 $4,200 Question 31 Which of the following is a type of nontaxable income that does not need to be reported on a federal tax return? Interest income from a U.S. Treasury security. Interest income from municipal bonds. Unemployment compensation. Workers' compensation. Question 32 Emma (29) may not be claimed as a dependent on anyone else's return. Her filing status is single. During the year, she paid $2,500 in qualified student loan interest. Her modified adjusted gross income prior to subtracting any deductions is $75,000. If she has no other adjustments to income, what is the maximum amount she may claim for the student loan interest deduction? $0 $1,667 $2,000 $2,500 Question 33 The maximum amount of qualified student loan interest a taxpayer may deduct as an adjustment to income is: $2,000 $2,500 $3,000 $4,000 Question 34 Emily (34) will use the head of household filing status. She has one dependent child, Harper (5). During the year, Emily spent $7,000 for Harper's childcare. Emily's income during the year totaled $58,000, all from wages. She did not receive any dependent care benefits from her employer. What amount may Emily use to calculate the Child and Dependent Care Credit? $0 $3,000 $6,000 $7,000 Question 35 What amount should a taxpayer with two dependent children under age 13 use to calculate their Child and Dependent Care Credit? The taxpayer spent $14,000 for childcare expenses during the year. Their income from wages exceeded the amount spent on childcare, and they did not receive any employer dependent care benefits. $0 $3,000 $6,000 $14,000 Question 36 In 2018, Peggy paid $1,500 in qualified adoption expenses to adopt a U.S. child. The adoption was not finalized, and in 2019, she paid an additional $2,500 in qualified adoption expenses. The adoption failed again in 202- and never became final. What is the maximum amount Peggy may be eligible to claim for the Adoption Credit on her 2020 return? $0 $1,500 $2,500 $4,000 Question 37 Choose the response that accurately completes the following sentence. Claiming the Child and Dependent Care Credit is NOT allowed for taxpayers who: Are actively searching for employment. Lived with their spouse for the entire year, but will file a separate return. Are self-employed. Use the services of an independent caregiver, such as a nanny or babysitter Question 38 For the purpose of the American Opportunity Tax Credit (AOTC), qualified tuition and related expenses generally include all of the following EXCEPT: Books required for the student's course of study. Fees associated with the student's degree program. Room and board at a residence hall operated by the educational institution. Student activity fee required as a condition for enrollment. Question 39 If a taxpayer claiming the American Opportunity Tax Credit (AOTC) has their tax liability reduced to zero, what is the maximum amount they may receive as a refundable credit? 20% of the credit, up to $500. 40% of the credit, up to $1,000. 100% of the first $1,000 of qualified education expenses. 100% of the first $4,000 of qualified education expenses. Question 40 Which tax benefit for education is partially refundable? American Opportunity Tax Credit. Distribution from a Qualified Tuition Program. Lifetime learning credit. Student loan interest deduction. Question 41 Andre (20) attends State University and is a qualifying student for the purpose of the American Opportunity Tax Credit (AOTC). His parents will claim him as a dependent on their jointly filed 2019 return. Their adjusted gross income is $120,000, and they paid $13,000 for Andre's tuition during the year. What is the maximum AOTC Andre's parents may be eligible to receive? $0 $2,000 $2,500 $4,000 Question 42 Tim and Martha are married and will file a joint return. For 2019, their modified adjusted gross income is $80,000. Their dependent daughter, Katelyn (21), is in her third year at State University. Tim and Martha are not students, and they have no other dependents. They paid $5,300 for Katelyn's tuition during the year. What is the maximum American Opportunity Tax Credit (AOTC) they may be eligible to receive? $0 $2,000 $2,500 $5,300 Question 43 Each of these students is required to file a 2019 federal tax return. Which student is NOT potentially eligible to receive the lifetime learning credit? Amber (22). She is a resident alien. Chyna (23). Her parents will claim her as a dependent on their return. Garrett (24). He was enrolled on a part-time basis. Kyle (29). He is pursuing a master's degree in education. Question 44 Choose the response that accurately completes the following sentence. The refundable portion of the American Opportunity Tax Credit (AOTC) may not exceed __________ of the credit. 10% 20% 40% 50% Question 45 Vivian (61) took a $5,000 distribution from her Roth IRA. Twenty percent, or $1,000, is a distribution of earnings on her contributions. The remaining $4,000 is a distribution of her basis. Vivian established the account more than 20 years ago, when Roth IRAs first became available. How much of her distribution is taxable? $0 $1,000 $4,000 $5,000 Question 46 The maximum amount a 74-year-old taxpayer with $10,000 in wages can contribute to a traditional IRA for 2019 is: $0 $6,000 $7,000 $10,000 Question 47 What is the maximum percentage of social security benefits that may be included in gross income? 85%. 90%. 95%. 100%. Question 48 Choose the response that completes the following sentence. A cash distribution from a qualified retirement account in which the taxpayer ONLY made pre-tax contributions: Is always fully taxable. Is never taxable. Is only taxable at the state and local level. May be partially taxable. Question 49 Harold (71), a retired single taxpayer, received a monthly pension of $3,000 ($36,000 annually). He did not contribute any after-tax dollars to the plan while he was working; his employer paid all the costs. Harold received a 2019 Form 1099-R reporting a gross distribution of $36,000 in box 1, but box 2 of the form is blank. How much of Harold's pension distribution is taxable? $0 $30,600 $32,400 $36,000 Question 50 McKenna (17) will be claimed as a dependent on her parents' tax return. During the year, she earned wages of $1,750 from a part-time job and $50 in interest from her savings account. The maximum amount McKenna may contribute to a traditional or Roth IRA for 2019 is: $0 $1,750 $1,800 $6,000 Question 51 All of the following benefits are available to taxpayers who contribute to defined contribution plans EXCEPT: Earnings on contributions are tax-deferred. Employee contributions are tax-deferred. The employee receives a predetermined, formula-based benefit at retirement. The taxpayer's employer may opt to match all or part of the employee's contributions. Question 52 The simplified method may be used to calculate the taxable portion of a distribution from a qualified retirement account when: The funds are rolled over into a Roth IRA. The funds are rolled over into a traditional IRA. The taxpayer previously made after-tax contributions to a traditional IRA. The taxpayer previously made after-tax contributions to a qualified pension, profit-sharing, stock bonus plan, or employee annuity plan. Question 53 Anthony is a 25-year-old, single taxpayer with modified adjusted gross income of $18,500. During the year, he made a $2,000 contribution to his employer's 401(k) plan. He has never taken a distribution from any retirement plan. The maximum amount Anthony may receive for the retirement savings contributions credit (Saver's Credit) is: $0 $200 $1,000 $2,000 Question 54 What is the age requirement to contribute to a Roth IRA? There is no age requirement if the taxpayer meets the compensation requirements. Taxpayers must be at least age 18 and less than age 59. Taxpayers must be at least age 18 and less than age 70. Taxpayers must be at least age 18, but there is no maximum age.