Basic Scenario $7$: Test Questions

$14.$ 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 Owen's Social Security is $$12,715\mathrm{.}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.