Worldwide income from whatever source derived, unless excluded from taxation by law.
What is gross income?
100
Payment made to a person pursuant to an agreement or a court decree of divorce or separation
What is alimony?
100
$6100
What is the standard deduction for Single tax filers?
100
Credit worth $1000 per dependent under the age of 17 that is being claimed on the tax return.
What is the child tax credit?
100
Used to figure out tax on taxable income less than $100,000.
What are the tax tables?
200
Income from inheritances, gifts, federal income tax refunds and child support
What is nontaxable income?
200
Amount reported on1099-INT in box 2.
What is penalty on early withdrawal of savings?
200
Annual limit for capital loss deduction
What is $3000 ($1500MFS)
200
Credit only available to lower-income taxpayers with earned income.
What is earned income credit?
200
A tax due by taxpayers who file Schedule C when they have a profit of $400 or more
What is self-employment tax?
300
Income received for investing money or other property, such as interest, dividends, rents and royalties. Includes pensions, alimony, unemployment compensation etc.
What is unearned income?
300
$2500
What is the maximum amount deductible for student loan interest paid per return?
300
A dollar amount of $3900 (2013) allowed by law as a reduction of income that would otherwise be taxed.
What is an exemption?
300
Credit available only to single parents or two career couples who have expenses for young children while they work.
What is child and dependent care credit?
300
An additional tax on income from qualified retirement plans and IRS when the taxpayer has not reached age 59½.
What is 10% early retirement distribution penalty
400
Income items (including those that reflect a loss) minus adjustments.
What is adjusted gross income?
400
Deduction allowed for qualified tuition and related expenses.
What is tuition and fees deduction?
400
Adjusted Gross Income minus Standard Deduction or Itemized Deduction minus exemptions.
What is taxable income?
400
This credit cannot be claimed if you have been convicted of a felony drug offense.
What is American Opportunity Credit?
400
Credit allowed to taxpayers who purchased homes in 2008 qualified for this no-interest loan that must be repaid beginning in 2010 over 15 years.
What is the first-time homebuyer credit repayment?
500
Income derived from a trade or business activity in which taxpayer does not materially participate in or rental activities
What is passive income?
500
The two requirements need to claim moving expenses.
What is distance and time?
500
$1200 for married taxpayers and qualifying widow(er)s, or $1500 for all other taxpayers.
What is the additional standard deduction for age or blindness?
500
Complete and submit an eligibility checklist; compute amount of credit; comply with knowledge requirements and retain records?
What are the earned income due diligence requirements?
500
Used to figure out tax on taxable income of more than $100,000