Mary is an 18-year-old full-time student at Midwest University. Her parents claim her as a dependent on
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Mary is an 18-year-old full-time student at Midwest University. Her parents claim her as a dependent on their tax return. Mary has $20,000 in unearned income this tax year. Her education expenses are as follows:
Tuition: $1,000
Books and supplies: $1,000
Room and board: $4,000
Computer required by Midwest University: $1,500
Fees: $650
Transportation: $1,000
What American Opportunity Tax Credits and Lifetime Learning Credits can Mary claim on her personal tax return this year for education expenses?
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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