Owen, age 69 and Kimberly, age 64 elect to file Married Filing Jointly. Neither taxpayer is blind.

Owen is retired. He received Social Security benefits and a pension.

Owen and Kimberly's daughter Shelby, age 20, is a full-time college student in her third year of study. She is pursuing a degree in nursing and does not have a felony drug conviction. She received a Form 1098-T for 2023. Box 7 was not checked on her Form 1098-T for the previous tax year.

Shelby spent the summer at home with her parents but lived in an apartment near campus during the

school year.

Shelby received a scholarship that paid the full tuition. Owen and Kimberly paid the cost of course-related books in 2023 not covered by scholarship. They paid $120 for a parking sticker, $5,500 for a meal plan, $850 for textbooks purchased at the college bookstore, and $200 for access to an online textbook.

Owen and Kimberly paid more than half the cost of maintaining a home and support for Shelby.

Owen and Kimberly do not have enough deductions to itemize on their federal tax return.

Owen, Kimberly, and Shelby are U.S. citizens and have valid Social Security numbers. They all lived in the United States for the entire year.

If Owen and Kimberly receive a refund, they would like to deposit it into their checking account. Documents from Baldwin Bank show that the routing number is 111000025. Their checking account number is 11337890.

14. Owen and Kimberly's standard deduction amount is $29,200.

a. True

b. False

15. Owen and Kimberly's total qualified education expenses used to calculate the American Opportunity Credit is:

a. $850

b. $1,050

c. $2,500

d. $5,620

16. Owen and Kimberly Walker can claim the Credit for Other Dependents.

a. True

b. False

17. What is the total amount of the Walker's federal income tax withholding.

a. $7,500

b. $9,500

c. $11,000

d. $11,240

18. The taxable amount of Owens Social Security is $12,715.00.

a. True

b. False

19. Which of the following statements are true?

a. Qualified dividends are part of the total ordinary dividends.

b. Qualified dividends qualify for lower, long-term capital gains tax rates.

c. Qualified dividends are reported on Form 1099-DIV.

d. All of the above.