Keith has a 2018 tax liability of $2,250 before taking into account his American Opportunity tax credit.
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Question:
Keith has a 2018 tax liability of $2,250 before taking into account his American Opportunity tax credit. He paid $2,600 in qualifying expenses, was a full-time student, was not claimed as a dependent on his parents' return, and his American Opportunity tax credit was not subject to phase-out. What is the amount of his American Opportunity tax credit allowed?
a. $4,000
b. $2,250
c. $2,150
d. $0
e. $2,600
Related Book For
Cornerstones of Cost Management
ISBN: 978-1285751788
3rd edition
Authors: Don R. Hansen, Maryanne M. Mowen
Posted Date: