Section Review

These questions are designed to review the information in this section and test your knowledge of the key points. Select the appropriate answer to each of the following questions:

1. In the Wages screen, the numbers in parentheses following the descriptions refer to:

The box numbers on Form W-2
Input codes
The maximum number of characters you can enter

2. Which of the following will NOT cause Schedule B to print?

The taxpayer or spouse has over $1,500 of interest and/or dividend income
Entries are made in the Adjustments section
The Schedule B tax return option is set to Force
There is an entry in the U.S. bonds field

3. Which of the following is NOT a program assumption for a Schedule C entity?

It is owned by the taxpayer
It is a passive activity
It is subject to SE tax

4. The program compares the standard mileage rate with the allowed expenses to determine which would be more beneficial for the taxpayer. This comparison is shown on which form?

Form 4562
Schedule C
Vehicle Expense Worksheet

5. If overall itemized deductions are limited by AGI, the program:

Produces a worksheet
Forces the standard deduction
Requires Form 1040EZ

6. The most important input required for any penalty calculation is the:

Taxpayer SSN
Estimate threshold
Filing date

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