39. A taxpayer final status is married filing jointly they have a 1055 k-1 with foreign tax credit of 550 dollars in box 16 this amount is not showing as a credit on form 1040 is the following a possible reason for the problem.    A. Foreign taxes are always a deduction on schedule A  and they not a credit.

the form 1099 r evonne recieved has a code 4 in box 7 what amount it any will she need to pay as an additional tax on early distrutions

45. A taxpayer has a tax liability of 0 and no refunds due prior to a applying any tax credit will The following credits return a refund.   A. Premium tax credit    B. Adoption tax credit

47. Is this a requirement for a taxpayer to be eligible for the earned income tax credit for the tax year 2023.   A. A taxpayer must have been a US citizen or resident alien for the entire tax year.    B. A taxpayer has been a US citizen or residential alien with 6 months of the year.   C. Attacked her only has investment and retirement income to report.

Ma2.

I do not understand how to calculate the problems attached

A5

Question 6 Which of the following is not true about the unified credit that accompanies the unified transfer tax? The current lifetime credit is $345,800. It is a lifetime credit. If a portion is used to reduce gift taxes, less credit is available to reduce potential estate taxes. Gifts the spouses make to each other reduces the amount of available credit.

I understand the calculations portion of it but im confused with the final income tax refund amount. Its -$5,211 that would mena they would owe instead of getting a refund or am i looking at it wrong?

1. What tax is used by the federal government to provide unemployment compensation to individuals who are out of work? Answer:   A.    FUTA     B.    SUTA     C.    Medicare     D.    Social Security 2. When completing Form 1096, the maximum number of types of Form 1099 that may be selected is _____. Answer:   A.    1     B.    2     C.    3     D.    4 3. What is the FUTA tax rate in a state that has a 1.5% credit reduction? Answer:   A.    1.2%     B.    1.5%     C.    2.1%     D.    2.7%