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Couldn't confirm presence of Flash 8 or higher because JavaScript was disabled.Get FlashI really do have Flash installed.ul{margin-top:0px;margin-bottom:0px;list-style-type:none;padding-left:20px;}1. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 7?

[ ] a. a. $ 46,326.

[ ] b. b. $ 44,500.

[ ] c. c. $ 44,606.

[ ] d. d. None of the above.

2. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 11?

[ ] a. a. $ 985.

[ ] b. b. $ 3,000.

[ ] c. c. $ -0-.

[ ] d. d. None of the above.

3. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 19?

[ ] a. a. $ 985.

[ ] b. b. $ 911.

[ ] c. c. $ -0-.

[ ] d. d. None of the above.

4. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 21?

[ ] a. a. $ 985.

[ ] b. b. $ 911.

[ ] c. c. $ -0-.

[ ] d. d. None of the above.

5. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 22?

[ ] a. a. $ 46,326.

[ ] b. b. $ 44,500.

[ ] c. c. $ 49,916.

[ ] d. d. None of the above.

6. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 32?

[ ] a. a. $ 3,000.

[ ] b. b. $ 4,000.

[ ] c. c. $ -0-.

[ ] d. d. None of the above.

7. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 47?

[ ] a. a. $ 181.

[ ] b. b. $ 2,100.

[ ] c. c. $ 420.

[ ] d. d. None of the above.

8. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 49?

[ ] a. a. $ 1,550.

[ ] b. b. $ 400.

[ ] c. c. $ 2,000.

[ ] d. d. None of the above.

9. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 52?

[ ] a. a. $ 3,000.

[ ] b. b. $ 2,000.

[ ] c. c. $ 1,970.

[ ] d. d. $ 1,141.

10. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 68?

[ ] a. a. $ 859.

[ ] b. b. $ 1,141.

[ ] c. c. $ 4,928.

[ ] d. d. $ 1,141.

11. Look at the Form 1040 you prepared for Margarita. What is the amount on Form 1040, Line 74a?

[ ] a. a. $ 261.

[ ] b. b. $ 1,811.

[ ] c. c. $ 2,670.

[ ] d. d. None of the above.

12. Look at the Form 540 you prepared for Margarita. What is the amount on Form 540, Line 14?

[ ] a. a. $ -0-.

[ ] b. b. $ 985.

[ ] c. c. $ 911.

[ ] d. d. $ 1,896.

13. Look at the Form 540 you prepared for Margarita. What is the amount on Form 540, Line 28?

[ ] a. a. $ 120.

[ ] b. b. $ 60.

[ ] c. c. $ -0-.

[ ] d. d. None of the above.

14. Look at the Form 540 you prepared for Margarita. What is the amount on Form 540, Line 43?

[ ] a. a. $ 420.

[ ] b. b. $ 181.

[ ] c. c. $ 2,100.

[ ] d. d. None of the above.

15. Look at the Form 540 you prepared for Margarita. What is the amount on Form 540, Line 66?

[ ] a. a. $ 420.

[ ] b. b. $ 224.

[ ] c. c. $ 405.

[ ] d. d. None of the above.

16. For the child and dependent care expenses credit, the following is true regarding claiming the credit for California,

[ ] a. a. California allows this credit only for care provided in California.

[ ] b. b. An RDP may file a joint California return and claim this credit.

[ ] c. c. The California credit is a percentage of the federal credit.

[ ] d. d. All of the above.

17. California includes California lottery winnings in taxable income.

[ ] a. True

[ ] b. False

18. To claim the child tax credit, you can claim it on Form 1040EZ.

[ ] a. True

[ ] b. False

19. Your son turned 17 on December 30, 2007. You claim him as a dependent on your return. What is the amount of your child tax credit.

[ ] a. a. $ 1,000.

[ ] b. b. $ 2,000.

[ ] c. c. $ 3,000.

[ ] d. d. $ -0-.

20. Credits, such as the child tax credit, the adoption credit, or the credit for child and dependent care expenses, are used to reduce tax. If your tax on Form 1040, line 46, or Form 1040A, line 28 is zero, figure the child tax credit to see if you qualify.

[ ] a. True

[ ] b. False

21. The additional child tax credit is a credit you may be able to take if you are not able to claim the full amount of the child tax credit.

[ ] a. True

[ ] b. False

22. This credit is called the "Earned Income Credit" because, to qualify, you must work and have earned income. Earned income includes

[ ] a. a. Certain dependent care benefits.

[ ] b. b. Certain adoption benefits.

[ ] c. c. Net earnings from self-employment or gross income received as a statutory employee.

[ ] d. d. All of the above.

23. For the Earned Income Credit, you can elect to include your non-taxable combat pay in earned income.

[ ] a. True

[ ] b. False

24. For the Earned Income Credit, payments you received from a disability insurance policy that you paid the premiums for are earned income as long as you have reached minimum retirement age.

[ ] a. True

[ ] b. False

25. During the 2007 fall semester, Luis was a high school student who took classes on a half-time basis at Los Felix College. Luis was not enrolled as part of a college degree program at Los Felix College because this college only admits students to a degree program if the students have a high school diploma or equivalent. Luis

[ ] a. a. did not have expenses that qualify him to figure a hope credit.

[ ] b. b. was an eligible student for the hope credit for tax year 2007.

[ ] c. c. was not an eligible student for the hope credit for tax year 2007.

[ ] d. d. None of the above.

26. Generally, you can claim an educational credit if you

[ ] a. a. pay qualified education expenses of higher education.

[ ] b. b. pay the education expenses for an eligible student.

[ ] c. c. pay qualified education expenses for your spouse, or a dependent for whom you claim an exemption on your return.

[ ] d. d. All of the above.

27. Include in your income any alimony payments you receive.

[ ] a. True

[ ] b. False

28. Report the value of any non-cash tips, such as tickets or passes, to your employer, because you have to pay social security and Medicare taxes or railroad retirement tax on these tips.

[ ] a. True

[ ] b. False

29. If you receive $20 or more in cash and charge tips in a month from any one job and did not report all those tips to your employer, you must report the social security and Medicare taxes on the un-reported tips as additional tax on your return. To figure the additional taxes use

[ ] a. a. Form 8880.

[ ] b. b. Form W-2.

[ ] c. c. Form 4137.

[ ] d. d. Form 8919.

30. You can set up and make contributions to a traditional IRA if

[ ] a. a. you (or, if you file a joint return, your spouse) received taxable compensation during the year.

[ ] b. b. you were not age 70 1/2 by the end of the year.

[ ] c. c. you have a job and your employer agrees to you making a contribution.

[ ] d. d. Both A and B are correct.

31. To claim the child tax credit your qualifying child must be

[ ] a. a. under age 17 by the end of tax year 2007

[ ] b. b. your child, stepchild, grandchild, great-grandchild

[ ] c. c. an eligible foster child that lived with you for more than half of 2007.

[ ] d. d. all of the above

32. If the child tax credit exceeds the tax liability, part or all of the excess may be refundable as an additional credit calculated on Form 8812.

[ ] a. True

[ ] b. False

33. For purposes of the Child Tax Credit, your modified AGI is your AGI plus

[ ] a. a. Any amount excluded from income because of the exclusion of income from Puerto Rico.

[ ] b. b. Any amount on line 45 or line 50 of Form 2555.

[ ] c. c. Any amount on line 18 of Form 2555-EZ or line 15 of Form 4563.

[ ] d. d. Any of the above

34. For tax year 2007, how much Is the maximum child tax credit amount per qualifying child?

[ ] a. a. $600

[ ] b. b. $2,600

[ ] c. c. $1,000

[ ] d. d. $2,000

35. According to Form 8812, if your earned income is not over $11,750, a refundable credit may still be available if you don't have three or more qualifying children.

[ ] a. True

[ ] b. False

36. Juanita Ramos is a single woman whom has three dependent children living with her. Her children are under 17. Juanita's total income is $25,000 as shown on her W-2. Her social security and Medicare taxes from Forms W-2, boxes 4 and 6 show $1,913 total withheld. Juanita provided her children total support and they lived with her all year. No one else can claim an exemption for Juanita or the children. Figure out what the Additional Child Tax Credit is for tax year 2007.

[ ] a. a. $ 2,642

[ ] b. b. $ 545

[ ] c. c. $ 1,988

[ ] d. d. None of the above.

37. Albert has one child whom is under 17 years old. Albert's tax liability on Form 1040, line 46 is $1,100. What is Albert's Additional Child Tax Credit amount?

[ ] a. a. $ 1,000

[ ] b. b. $ 100

[ ] c. c. $ -0-

[ ] d. d. None of the above.

38. Unemployment compensation is Taxable for Federal and non-taxable for California.

[ ] a. True

[ ] b. False

39. Interest income from a regular savings account is non-taxable for California.

[ ] a. True

[ ] b. False

40. For California, enter on line 14a (Form 540A) any amount of any state income tax refund shown on your federal Form 1040A or 1040EZ.

[ ] a. True

[ ] b. False