💼Owen and Kimberly's standard deduction amount is $29,200.
📚Their qualified education expenses for the American Opportunity credit amount to $150.
💳Owen and Kimberly qualify for the credit for other dependents.
💼Owen and Kimberly's standard deduction amount is $29,200.
📚Their qualified education expenses for the American Opportunity credit amount to $150.
💳Owen and Kimberly qualify for the credit for other dependents.
What is Owen and Kimberly's standard deduction amount?
—$29,200.
How much are the qualified education expenses used for the American Opportunity credit?
—$150.
Can Owen and Kimberly claim the credit for other dependents?
—Yes, they qualify for the credit.
00:00Introduction to Tax Scenario 7 with the instructor, Christe.
03:03Discussion on Owen and Kimberly's standard deduction amount.
09:50Explanation of their qualified education expenses for the American Opportunity credit.
