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.

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

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?

Which of the following statements is false? Select one: O A. In general, individual taxpayers are required to file a tax return only if their gross income exceeds the standard deduction OB. The penalty for failure to file is more severe than the penalty for failure to pay OC. Taxpayers may file a tax return even when they are not required to do so to obtain a refund of income taxes withheld OD. Individual tax returns are always due on April 15 for calendar-year individuals

Subject :- Accounting

13. Assess the following situation to determine whether you need to report the income to the IRS on your tax return.   A. You received $9 in interest from your bank. Your bank doesn't issue a 1099-int unless you received $10 in interest do you need to claim the me$9 and interest on income on your tax return.   B. You are a bartender with your neighbor who is an attorney you babysat their children in the state called $1,000 in legal services do you need to report this and come on your tax return.