EA Free Practice

Part 1 practice questions

Individuals

Untimed0 / 5

Adjustments deductions and credits for tax
Question 1. When a taxpayer implements a strategy that accelerates taxable income into the current tax year without increasing quarterly prepayments, which penalty are they primarily at risk of incurring?
Answer to question 1A. Failure-to-pay penaltyB. Underpayment of estimated tax penaltyC. Failure-to-file penaltyD. Accuracy-related penalty
Explanation after you answer
Required minimum distributions
Question 2. An individual who has reached the statutory distribution age is the original owner of a Roth IRA. What annual required minimum distribution must be taken from this account during the owner's lifetime?
Answer to question 2A. A distribution based on life expectancyB. A distribution of accumulated earningsC. A full distribution within five yearsD. No minimum distribution is required
Explanation after you answer
Property sales
Question 3. Which form is used by an individual taxpayer to calculate and report deferred gain under the installment method from the sale of eligible investment property?
Answer to question 3A. Form 6252B. Schedule DC. Schedule 1D. Form 8949
Explanation after you answer
Additional medicare tax
Question 4. In 2026, a self-employed taxpayer incurs a regular self-employment tax liability of $14,000 and an Additional Medicare Tax liability of $900. What amount can the taxpayer claim as an adjustment to income on Schedule 1?
Answer to question 4A. $14,000B. $7,900C. $7,000D. $7,450
Explanation after you answer
Distributions from qualified and non qualified
Question 5. Which tax form is used by plan administrators to report distributions from retirement plans and individual retirement arrangements (IRAs) to the taxpayer and the IRS?
Answer to question 5A. Form 1099-MISCB. Form 5498C. Form 1099-RD. Form 5329
Explanation after you answer

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Questions from the MiloPrep question bank. Independently authored practice, not official exam items. This short set is for learning and does not predict an exam score.

Part 1 practice questions

Question 1. When a taxpayer implements a strategy that accelerates taxable income into the current tax year without increasing quarterly prepayments, which penalty are they primarily at risk of incurring?

Question 2. An individual who has reached the statutory distribution age is the original owner of a Roth IRA. What annual required minimum distribution must be taken from this account during the owner's lifetime?

Question 3. Which form is used by an individual taxpayer to calculate and report deferred gain under the installment method from the sale of eligible investment property?

Question 4. In 2026, a self-employed taxpayer incurs a regular self-employment tax liability of $14,000 and an Additional Medicare Tax liability of $900. What amount can the taxpayer claim as an adjustment to income on Schedule 1?

Question 5. Which tax form is used by plan administrators to report distributions from retirement plans and individual retirement arrangements (IRAs) to the taxpayer and the IRS?

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