In 2020, Tom and Mary, married filing jointly, paid $1,000 and $4,000 in qualifying expenses for their

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In 2020, Tom and Mary, married filing jointly, paid $1,000 and $4,000 in qualifying expenses for their two daughters Brenda and Brielle, respectively, to attend the Rutgers University. Brenda is a junior and Jill is a Sophomore. Tom and Mary's AGI is $105,000 and they file a joint return. What is their allowable American opportunity tax credit after the credit phase-out based on AGI is taken into account?

Posted Date: Dec 14, 2021 06:28 PM

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In 2020, Tom and Mary, married filing jointly, paid $1,000 and $4,000 in qualifying expenses for their

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Income limits for AOTC To claim the full credit your modified adjusted gross income MAGI must be 800... View the full answer

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