Tax Advisor Interview Questions

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John's son, Derek, is 23, a full-time student in his second year of college, and does not have any income. John's filing status is Married Filing Jointly, the total modified adjusted gross income on the return is $112,000, and Derek will be claimed as a dependent on John's tax return. His educational expenses included $8,000 for tuition, and $4,000 for room and board. Derek received a $5,000 scholarship for tuition use only, as well as an additional $2,500 scholarship to pay any college expenses. John paid the remaining $4,500 in cash. Please research and refer to resources to answer the following questions for your customer, in your own words: Is Derek a qualified dependent on John's tax return? If so, what are the credits that John can claim on his tax return? What are the total tuition expenses? Is any part of the scholarship received taxable?
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Turbo Tax Live Advisor

Interviewed at Intuit

4.1
Sep 23, 2024

John's son, Derek, is 23, a full-time student in his second year of college, and does not have any income. John's filing status is Married Filing Jointly, the total modified adjusted gross income on the return is $112,000, and Derek will be claimed as a dependent on John's tax return. His educational expenses included $8,000 for tuition, and $4,000 for room and board. Derek received a $5,000 scholarship for tuition use only, as well as an additional $2,500 scholarship to pay any college expenses. John paid the remaining $4,500 in cash. Please research and refer to resources to answer the following questions for your customer, in your own words: Is Derek a qualified dependent on John's tax return? If so, what are the credits that John can claim on his tax return? What are the total tuition expenses? Is any part of the scholarship received taxable?

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