Level 2. Tax Forms Knowledge Check

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Test your understanding of tax forms by successfully completing the recap quiz

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Level 2. Tax Forms Knowledge CheckVersión en línea Test your understanding of tax forms by successfully completing the recap quiz por WM 1 What is the main purpose of tax forms? a To take money from your paycheck b To take more money from people who earn more c To track where income comes from and how it's taxed d To decide how much you get paid 2 When do you usually fill out a W-4? a When you file taxes b When you start a new job c When you quit a job d When you open a bank account 3 Which form summarizes your earnings and taxes for the entire year? a 1099-NEC b W-4 c 1099-INT d W-2 4 Jordan earns money from a savings account and also from delivering food through DoorDash. Which forms apply? a 1099-INT & 1099-NEC b 1099-DIV & 1099-MISC c W-2 & W-4 d 1099-INT only 5 What is a key difference between a W-2 and a 1099? a They are the same thing b W-2 income doesn't have taxes withheld automatically c 1099 income has taxes withheld automatically d W-2 income has taxes withheld automatically 6 Rental income and royalties are often reported on which form? a W-4 b 1099-MISC c W-2 d 1099-NEC 7 If you earn dividends from stocks, which form do you receive? a 1099-INT b 1099-MISC c 1099-DIV d 1099-NEC

Level 2. Tax Forms Knowledge CheckVersión en línea

Test your understanding of tax forms by successfully completing the recap quiz

por WM

What is the main purpose of tax forms?

To take money from your paycheck

To take more money from people who earn more

To track where income comes from and how it's taxed

To decide how much you get paid

When do you usually fill out a W-4?

When you file taxes

When you start a new job

When you quit a job

When you open a bank account

Which form summarizes your earnings and taxes for the entire year?

1099-NEC

W-4

1099-INT

W-2

Jordan earns money from a savings account and also from delivering food through DoorDash. Which forms apply?

1099-INT & 1099-NEC

1099-DIV & 1099-MISC

W-2 & W-4

1099-INT only

What is a key difference between a W-2 and a 1099?

They are the same thing

W-2 income doesn't have taxes withheld automatically

1099 income has taxes withheld automatically

W-2 income has taxes withheld automatically

Rental income and royalties are often reported on which form?

W-4

1099-MISC

W-2

1099-NEC

If you earn dividends from stocks, which form do you receive?

1099-INT

1099-MISC

1099-DIV

1099-NEC

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Level 2. Tax Forms Knowledge Check

Test

Sobre esta actividad

Creada por

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Level 2. Tax Forms Knowledge CheckVersión en línea

por WM

What is the main purpose of tax forms?

When do you usually fill out a W-4?

Which form summarizes your earnings and taxes for the entire year?

Jordan earns money from a savings account and also from delivering food through DoorDash. Which forms apply?

What is a key difference between a W-2 and a 1099?

Rental income and royalties are often reported on which form?

If you earn dividends from stocks, which form do you receive?

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