Pretest

Question 1

Damien has a full-time job and earns additional income from a side business. Which form should he use to report his total income to the IRS?

Revolt · Accepted Answer

1040

Question 2

Mordche wants to itemize his deductions instead of taking the standard deduction. Which form will he need to use?

Revolt · Accepted Answer

Schedule A

Question 3

Efraim earned $⁢2,000 in dividends from his investments. Which form should he use to report this income?

Revolt · Accepted Answer

Schedule B

Question 4

Nashley has interest income from her bank account and dividend income from her investments. Which form should she use to report both types of income?

Revolt · Accepted Answer

Schedule B

Question 5

Which type of income is taxable?

Revolt · Accepted Answer

interest from a savings account

Question 6

Eleni received $⁢500 in interest from her bank account. Which form should she use to report this interest income?

Revolt · Accepted Answer

1040

Question 7

Giulia's employer withheld federal income tax from her paycheck. Which form will show these withholdings?

Revolt · Accepted Answer

W-2

Question 8

Which type of income is taxable?

Revolt · Accepted Answer

interest earned from a certificate of deposit

Pretest Answers