Education Tax Credits (LO 6.5) Select either True or False for each of the following statements...
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Education Tax Credits (LO 6.5) Select either "True" or "False" for each of the following statements regarding the types of education covered by the American Opportunity tax credit and the lifetime learning credit. a. The American Opportunity Credit covers only the first 4 years of post-secondary education with at least a half-time course load, so it encourages students to continue their education after high school. b. The Lifetime Learning Credit may be claimed for any year of college or graduate school, and may also be claimed for educational courses taken during any stage of life so it encourages lifelong ongoing education. C. For the American Opportunity Credit, room and board, transportation costs, and personal living expenses are qualifying expenses. d. The student can be enrolled in just one course and still get the Lifetime Learning Credit. Education Tax Credits (LO 6.5) Select either "True" or "False" for each of the following statements regarding the types of education covered by the American Opportunity tax credit and the lifetime learning credit. a. The American Opportunity Credit covers only the first 4 years of post-secondary education with at least a half-time course load, so it encourages students to continue their education after high school. b. The Lifetime Learning Credit may be claimed for any year of college or graduate school, and may also be claimed for educational courses taken during any stage of life so it encourages lifelong ongoing education. C. For the American Opportunity Credit, room and board, transportation costs, and personal living expenses are qualifying expenses. d. The student can be enrolled in just one course and still get the Lifetime Learning Credit.
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a Answer True Explanation The American Opportunity Credit is not for students who ... View the full answer
Related Book For
Introduction to Operations Research
ISBN: 978-1259162985
10th edition
Authors: Frederick S. Hillier, Gerald J. Lieberman
Posted Date:
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