#1. A taxpayer received a 1099-R showing a distribution from a traditional IRA. She is under age 59½ and has no exception. What percentage of the distribution is generally subject to the additional tax?
#2. Which of the following is considered passive activity income?
#3. A taxpayer made a $6,000 contribution to a traditional IRA in 2024 but was covered by a retirement plan at work. What affects the deductibility of this contribution?
#4. A partnership must file Form 1065 by:
#5. What is the maximum capital loss a taxpayer can deduct against ordinary income per year?
#6. Which of the following is not required for a valid power of attorney on Form 2848?
#7. The standard mileage rate for business use of a car in 2024 is:
#8. A taxpayer has $25,000 in Schedule C income and spends $8,000 on qualified health insurance premiums. How much of the premium is deductible as an adjustment to income?
#9. A taxpayer receives a CP2000 notice from the IRS. This notice typically relates to:
#10. A taxpayer who qualifies for Head of Household filing status must:
#11. Which IRS form is used to apply for an EIN?
#12. If a taxpayer fails to file a return by the due date without an extension, the failure-to-file penalty is:
#13. The maximum EITC (Earned Income Tax Credit) available for a taxpayer with three or more qualifying children in 2024 is approximately:
#14. A taxpayer receives a lump-sum distribution from a pension. Which IRS form must be attached if the taxpayer chooses the 10-year tax option?
#15. Which of the following is an ‘above-the-line’ deduction?
#16. Which form is used to report nonemployee compensation?
#17. What is the statute of limitations for the IRS to assess tax on a timely filed return?
#18. The child tax credit for a qualifying child under age 17 in 2024 is:
#19. Which of the following is not subject to self-employment tax?
#20. If a taxpayer receives a Notice of Deficiency and wants to contest it, how long does the taxpayer have to file a petition with the U.S. Tax Court?
#21. Which of the following records must a tax preparer retain for 3 years?
#22. The IRS allows a statutory employee to report wages and expenses on:
#23. An overstatement of earned income to claim the EITC may result in:
#24. The 2024 contribution limit for a SIMPLE IRA for individuals under 50 is:
#25. Form 2553 is used to:
#26. Which of the following is not considered a ‘qualifying child’ for dependency?
#27. A taxpayer sold a rental property after 10 years of depreciation. Which form is used to report depreciation recapture?
#28. A tax preparer who willfully understates a client’s tax liability can be penalized up to:
#29. What form does an S corporation issue to shareholders for income reporting?
#30. A taxpayer who adopts a child in 2024 may qualify for a maximum adoption credit of approximately:
#31. To claim the American Opportunity Credit, the student must:
#32. A responsible person who willfully fails to remit payroll taxes can be subject to the:
#33. A taxpayer with household help must issue Form W-2 if:
#34. The backup withholding rate in 2024 is:
#35. If a taxpayer fails to provide proof of insurance under the ACA, the penalty in 2024 is:
#36. Which of the following is not a valid filing status?
#37. What is the purpose of Form 8867?
#38. If a taxpayer changes their legal name due to marriage, they should notify:
#39. A tax return preparer must sign and include their:
#40. In which of the following cases is cancellation of debt income not taxable?
#41. A taxpayer wants to deduct gambling losses. They must:
#42. What is the maximum number of shareholders allowed in an S corporation?
#43. What triggers the need to file Form 8889?
#44. A Schedule C business that has a net profit of $120,000 will owe SE tax of approximately:
#45. Which of the following is required for a valid qualifying child for EITC?
#46. Which form is used to request an installment agreement?
#47. A taxpayer sells their personal residence and realizes a $200,000 gain. They qualify for the full exclusion. How much of the gain is taxable?
#48. To e-file returns as a tax professional, the preparer must have a(n):
#49. A taxpayer has unreported foreign financial accounts. Which form must they file annually?
#50. If a taxpayer disputes an IRS notice and requests an appeal, the case may be resolved by:
