14. All of the following are deductions that can be found on Schedule A except a. State and local taxes db Interest on s

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14 All Of The Following Are Deductions That Can Be Found On Schedule A Except A State And Local Taxes Db Interest On S 1 (43.92 KiB) Viewed 38 times

14. All of the following are deductions that can be found on Schedule A except a. State and local taxes db Interest on student loans c. Charitable contributions d. Casualty and theft losses 15. Which of the following statements about refundable tax credits is (are) correct? 1. They are more valuable than tax deductions. II. They allow tax refunds for people who owe no taxes. a I only b. II only c. Both I and II d. Neither I nor II 16. Which of the following statements concerning Circular 230 is (are) correct? I. It requires you to turn a client into the IRS if they are overstating their charitable contributions. 11. It requires you to perform due diligence when preparing a client's tax return. A. I only B. II only C. Both I and II D. Neither I nor II 17. Which of the following children is (are) an eligible child for the purposes of the adoption credit? I. Al who is 14 years old II. Bob who is 26 years old and is considered to have special needs a. I only b. Il only c. Both I and II d. Neither I nor II 18. In 202X your clients have 2 dependent children ages 6, and 12. They are married filing jointly with an adjusted gross income of $420,000. As you know the phase out for the child t credit begins at $400,000. As you also know the credit would be $4,000 ($2,000 per child) if nothing was phased out. What is the amount of tax credit they will be allowed to take? a. $500 b. $1,000 $1,500 None of the above 5 C. d.