A taxpayer with self-employment income of $600 must file a tax return.

The receipt of an inheritance is excluded from the taxable income of the recipients.

Box 12 of Form W-2 is used for which of the following?

The two types of dependents are qualifying child or qualifying relative.

Denise is divorced and files a head of household tax return claiming her two children, ages 7 and 9, as dependents. Her AGI for 2023 is $81,500. How much is Denise’s child tax credit for 2023?

Which of the following is true regarding the American Opportunity tax credit?

Interest earned on bonds issued by a state government is fully taxable.

The expense of travel as a form of education is not deductible.

A business gift with a value of $35 presented to a client and the client’s spouse, who is not a client, is fully deductible by the donor.

If taxpayers are married and living together at the end of the year, they must file a joint tax return.