Gordon and Ellen are married and want to file a joint return. • Gordon did not r

Question

Gordon and Ellen are married and want to file a joint return. • Gordon did not receive a Form 1099-INT, but called County Bank and confirmed that in 2016 they received $9 of interest income in their savings account with no withholding and no early withdrawal penalty. • Gordon bought a $25 raffle ticket and won a $3,000 prize. He brought his Form W2-G. • Gordon was covered by Medicare Parts A and B for the whole year. Ellen had no health insurance all year, and does not qualify for any coverage exemptions.

Explanation / Answer

This question is from "VITA/TCE Volunteer Assistor’s Test/Retest 2016 RETURNS"

Answers for all the questions are below : -

14. Gordon has an Identity Protection PIN. How does this affect his return preparation? The Identity Protection PIN must be entered during return preparation.

15. The $9 of savings account interest is not required to be included on the return since no Form 1099-INT was issued False

16. What is the taxable amount of Gordon’s Social Security? $9,952

17. Gordon is over 65. How does that affect their tax return? It increases their standard deduction.

18. Gordon and Ellen want to avoid having a balance due next year. Gordon can submit a Form W4-P to have tax withheld on his pension. True

19. Gordon and Ellen are not required to make a shared responsibility payment on Form 1040, page 2. False

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