An easier version of the IRS 1040 Tax Form individuals can use if certain qualifications are met.
Personal Finance Lesson 5-4

Quiz
•
Business
•
9th - 12th Grade
•
Easy

Steven Wills
Used 1+ times
FREE Resource
12 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1040 EZ Tax Form
Adjusted Gross Income
Deductions
Exemptions
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An IRS form used by individuals to file their personal federal income tax returns annually
Adjusted Gross Income
1040 Tax Form
Taxable Income
Wage
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An individual's total gross income minus certain qualifying deductions.
Deductions
Adjusted Gross Income
Taxable Income
Salary
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A qualifying expense that reduces taxable income.
Deductions
Exemptions
Taxable Income:
Interest
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A legal deduction that reduces the amount of taxable income.
Taxable Income
Interest
Exemptions
Rent
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The amount the tax rate is applied to when filing tax returns, and is calculated by Adjusted Gross Income minus any additional qualifying deductions and exemptions.
Wage
Salary
Interest
Taxable Income
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Money an employer pays to an employee for specific work performed, usually based on hours worked or for a defined task.
Wage
Salary
Interest
Rent
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