Question
Daniel, age 64 and Avery, age 53, are married. They elect to file Married Filing Jointly. Daniel is retired. He received Social Security benefits, a
Daniel, age 64 and Avery, age 53, are married. They elect to file Married Filing Jointly. Daniel is retired. He received Social Security benefits, a pension, and wages from a part-time job. Avery was a full-time elementary school teacher and paid $700 out of pocket for classroom supplies. Avery is paying off a student loan that she took out when she attended college for her bachelors degree. Daniel and Avery have two sons, Jackson, age 19 and Matthew, age 16. Matthew lived at home the entire year. Jackson is a full-time college student in his second year of study. He is pursuing a degree in Accounting and does not have a felony drug conviction. He received a Form 1098-T for 2019. Box 2 was not filled in and Box 7 was not checked. Jackson lived in an apartment near campus during the school year and spent the summer at home with his parents. Jackson received a scholarship and the terms require that it be used to pay tuition. Daniel and Avery paid the cost of Jacksons tuition and course-related books in 2020 not covered by scholarship. They paid $90 for a parking sticker, $4,500 for a meal plan, $500 for textbooks purchased at the college bookstore, and $100 for access to an online textbook. Daniel and Avery paid more than half the cost of maintaining a home and support for Jackson and Matthew. Daniel and Avery do not have enough deductions to itemize on their federal tax return. They made a charitable contribution in the amount of $350 cash and they have a receipt for it. The Emorys made four timely estimated tax payments of $125 each for tax year 2020. The Emorys received a $2,900 Economic Impact Payment (EIP) in 2020. If Daniel and Avery receive a refund, they would like to deposit it into their checking account. Documents from County Bank show that the routing number is 111000025. Their checking account number is 11337890.
What is the amount of Daniel and Averys standard deduction? $________. (Do not enter dollar signs, commas, periods, or decimal points in your answer.)
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