Becky, a college freshman, works part-time and pays $1,650 of her college tuition expenses. Although Becky files

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Becky, a college freshman, works part-time and pays $1,650 of her college tuition expenses. Although Becky files her own tax return, her parents claim her as a dependent on their tax return. Becky’s parents file jointly and have AGI of $50,000. What is the amount of American Opportunity tax credit her parents can claim on their tax return for the tuition Becky paid?

a. $0

b. $413

c. $1,600

d. $1,650

e. Some other amount

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Income Tax Fundamentals 2023

ISBN: 9780357719527

41st Edition

Authors: Gerald E. Whittenburg, Steven Gill

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