How Much Do You Know About Taxes?

1. How much money does a person (independent, single, under 65) have to make to be required to file?

$12,000
$9,500
$4,700
$2,500


2. Which form do I use to deduct college expenses?

Form 1040
Schedule A
Form 8917
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3. Do I have to pay taxes on Social Security disability?

Never
Only for income > $25-32,000
Only for income < $25-32,000
Always


4. Do I have to list last years state refund as this years income?

Yes
No
Only if I included it as a deduction last year
Only if I claimed the standard deduction last year


5. What is the best approach to take if you owe the IRS money?

Consult a professional
Don't do anything until you are audited
Ignore your unfiled returns
Pay the full amount owed