George and Helen have an 18-year-old son, Joshua, who lived with them all year and...
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George and Helen have an 18-year-old son, Joshua, who lived with them all year and is a college student.
George and Helen provided all the support for Joshua and all the costs of keeping up their home.
Joshua worked during the year and received wages of $2,000. He had $140 of federal withholding.
The Reeds have a balance due on their return and are unsure what to do.
George, Helen, and Joshua are U.S. citizens with valid Social Security numbers.
18. Which of the following items are included in the total payments on Jacob and Martha's tax return?
A. Federal income tax withheld from Forms W-2 and 1099
B. $400 applied from 2017 return
C. Refundable credits
D. All of the above
19. What form must be used to split Jacob and Marthas refund?
A. Form 8888, Allocation of Refund (Including Savings Bond Purchases)
B. Form 8880, Credit for Qualified Retirement Savings Contributions
C. Form 8862, Information To Claim Earned Income Credit After Disallowance
D. There is no form. A refund can't be split.
20. Does Emily have to pay a shared responsibility payment on her tax return?
A. Yes, she did not have full health coverage for 12 months of the year.
B. No, she can claim a short coverage gap exemption on her tax return.
21. The amount of Emily's education credit claimed on her tax return is $________. (Do not enter dollar signs, commas, periods, or decimal points in your answer.)
22. Emily's total federal income tax withheld is $________. (Do not enter dollar signs, commas, periods, or decimal points in your answer.)
23. What is the total credit amount shown on Form 2441, Child and Dependent Care Expenses?
A. $0
B. $600
C. $660
D. $792
24. Emily is eligible to claim the child tax credit on her 2018 tax return.
True
False
25. Emily is subject to the 10% additional tax from her 401(k) distribution.
True
False
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