Janie graduates from high school in 2018 and enrolls in college in the fall. Her parents pay

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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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Related Book For  answer-question

Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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