Janie graduates from high school in 2018 and enrolls in college in the fall. Her parents pay
Question:
Janie graduates from high school in 2018 and enrolls in college in the fall. Her parents pay $4,000 for her tuition and fees.
a. Assuming Janie’s parents have AGI of $170,000, what is the American Opportunity tax credit they can claim for Janie?
b. Assuming Janie’s parents have AGI of $75,000, what is the American Opportunity tax credit they can claim for Janie?
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a 1250 Janies American Opportunity tax credit before any phaseout will be 100 of the fir...View the full answer
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Related Book For
Income Tax Fundamentals 2019
ISBN: 9781337703062
37th Edition
Authors: Gerald E. Whittenburg, Steven Gill
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