Apply Individual Tax Credits Practice Test

For tax year 2024, Val is single and has two dependents: one qualifying child age 12 with a valid Social Security number, and one qualifying relative age 70 with a valid Social Security number. Val’s AGI is $75,000 and she meets all dependency requirements. Which credit amount is Val eligible to claim related to these dependents (ignoring any phaseouts)?

For tax year 2024, Paige is married filing separately and pays $4,000 of qualified tuition for her own eligible undergraduate education (first four years) and otherwise meets the American Opportunity Tax Credit requirements. Which statement is correct regarding Paige’s ability to claim the AOTC for 2024?