Free EA practice questions

1. 01

   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 1

   AA. Failure-to-pay penaltyBB. Underpayment of estimated tax penaltyCC. Failure-to-file penaltyDD. Accuracy-related penalty

   Check answerExplanation after you answer
2. 02

   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 2

   AA. A distribution based on life expectancyBB. A distribution of accumulated earningsCC. A full distribution within five yearsDD. No minimum distribution is required

   Check answerExplanation after you answer
3. 03

   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 3

   AA. Form 6252BB. Schedule DCC. Schedule 1DD. Form 8949

   Check answerExplanation after you answer
4. 04

   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 4

   AA. $14,000BB. $7,900CC. $7,000DD. $7,450

   Check answerExplanation after you answer
5. 05

   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 5

   AA. Form 1099-MISCBB. Form 5498CC. Form 1099-RDD. Form 5329

   Check answerExplanation after you answer

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.