Is this statement correct based on the form 1040 above?

SWFT Comprehensive Vol 2020
43rd Edition
ISBN:9780357391723
Author:Maloney
Publisher:Maloney
Chapter2: Working With The Tax Law
Section: Chapter Questions
Problem 6DQ
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Question

Is this statement correct based on the form 1040 above?

 

a. The calculation for the balance due can be found on a 1040 worksheet and not on the form 1040 itself.

 

b. The child tax credit increases the taxpayer's refund by $500

 

Edit - this is the only imformation the test provides for this qiestion

Review the table below.
You have the following information from
your 2020 Form 1040
Line 16
Line 19
Line 24
Line 25
Line 31
Line 33
Is this statement correct?
19,124
500
18,624
25,000
763
25,763
Transcribed Image Text:Review the table below. You have the following information from your 2020 Form 1040 Line 16 Line 19 Line 24 Line 25 Line 31 Line 33 Is this statement correct? 19,124 500 18,624 25,000 763 25,763
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