HRB-09 Exercises
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Created by:
scsigirl Plus on October 6, 2010
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H&R Block Ch 9 Exercises
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26 terms
Terms | Definitions |
|---|---|
 Indicate if eligible student for the AOC for 2009:Jennifer began her freshman year of college in August 2009. Jennifer was enrolled as a full-time student at Your State University. | Yes |
| Indicate if eligible student for the AOC for 2009: Curtis was a graduate student at Your Local College in 2009. | No Already completed the first four years of postsecondary education before 2009. |
| Indicate if eligible student for the AOC for 2009: Lori took classes as a part-time student at Local Community College in 2009. Lori took one course per semester and was not considered at least a half-time student by the college. | No Lori was not an "at least half-time" student. |
| Indicate if eligible student for the AOC for 2009: In 2006, James was convicted of felony drug possession. In 2009, James was a full-time sophomore at State University. | No The possession conviction disqualifies him. |
| Indicate if eligible student for the AOC for 2009: Tonya was a full-time junior at Local College in 2009. Tonya paid her educational expenses by taking out student loans each semester. | Yes The student loan does not disqualify her. |
| Can taxpayer claim the AOC: Kenneth Griffin paid qualified expenses for his son, John, who he claims as a dependent. | Yes Kenneth may claim an education credit for John's qualified expenses. |
| Can taxpayer claim the AOC: Lisa Dougherty is claimed as a dependent by her mother, Florence. Lisa paid most of her own college expenses. | No Cannot be claimed as a dependent. |
| Can taxpayer claim the AOC: Sharon Liston supports her son, Robert (20), an unmarried college student. He earned $6,700 wages from a part-time job and paid qualified expenses in 2009. Sharon plans to claim Robert as a dependent. Her taxable income is $30,000. | Yes Sharon's MAGI is under $90,000 |
| Can taxpayer claim the AOC: Sharon Liston supports her son, Robert (20), an unmarried college student. He earned $6,700 wages from a part-time job and paid qualified expenses in 2009. Sharon plans to claim Robert as a dependent. Her taxable income is $0. | No Sharon is not a taxpayer, Robert can claim it. |
| Is this expense qualified for AOC: Tuition payments. No scholarships, grants, or other non-taxable benefits were received. | Yes |
| Is this expense qualified for AOC: Tuition payments. The taxpayer received a nontaxable grant, which covered the entire tuition expense. | No No expenses were paid by the taxpayer. |
| Is this expense qualified for AOC: Cost of used books purchased from a former student, via an online bookstore not run by the college. | Yes For the AOC, needed books and supplies do not have to be purchased from the school to qualify. |
| Is this expense qualified for AOC: Fees for an optional student activity. | No |
| Is this expense qualified for AOC: Fees for a student activity required to complete a degree program. | Yes Student activity fees qualify if they are required to complete a degree program. |
| Is this expense qualified for AOC: Room and Board. | No |
| Is this expense qualified for AOC: Cost of football uniforms and equipment. | No |
| Is this expense qualified for AOC: Tuition paid by the taxpayer's parent. | Yes |
| Is this expense qualified for AOC: Tuition paid on December 29,2008 for a course that started on January 12, 2009 | No Expenses paid in 2008 do not qualify for the AOC in 2009. If the taxpayer was eligible for any educational credit, the credit for these expenses should have been claimed on the 2008 return. If it was not, the taxpayer should amend the 2008 return. |
| Is this expense qualified for AOC: Tuition paid on July 20, 2009 for a course that started on August 24, 2009 | Yes |
| Is this expense qualified for AOC: Tuition paid on December 28, 2009 for a course that started on January 11, 2010. | Yes Qualified expenses for 2009 include those paid for academic periods that start before April 1, 2010. |
| Is this expense qualified for AOC: Tuition paid on December 4, 2010 for a course that started on December 15, 2010 | No Must have been paid in 2009. |
| Indicate max tuition and fees deduction: Ignacio has an MAGI of $58,279. His filing status is single. | $4,000 |
| Indicate max tuition and fees deduction: Kate has an MAGI of $74,281. Her filing status is Head of Household. | $2,000 |
| Indicate max tuition and fees deduction: Gerri has a modified AGI of $90,125. Her filing status is single. | $0 |
| Indicate max tuition and fees deduction: Lloyd and Margaret have an MAGI of $90,250. They are Married Filing Joint. | $4,000 |
| Indicate max tuition and fees deduction: Marcus and Deidra have an MAGI of $155,725. They are Married Filing Joint. | $2,000 |
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