Janie graduates from high school in 2015 and enrolls in college in the fall. Her parents pay

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Janie graduates from high school in 2015 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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Income Tax Fundamentals 2016

ISBN: 9781337343527

34th Edition

Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller

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Question Posted: Sep 11, 2016 11:40 AM

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Janie graduates from high school in 2015 and enrolls in college in the fall. Her parents pay

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a 1250 Janies American Opportunity credit before any phaseout will be 100 of the first 2...View the full answer

Income Tax Fundamentals 2016

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