15. Jasper is single and is a computer software consultant with a college degree. He feels that...

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15. Jasper is single and is a computer software consultant with a college degree. He feels that one of the reasons for his success is that he continually updates his knowledge by taking classes at the local college in various areas related to software design and information technology. This year he spent $2,000 on course tuition and fees.

a. Assuming Jasper has AGI of $92,000, how much lifetime learning credit can Jasper claim on his tax return? Would the answer be different if Jasper were married and supporting a wife who was not working?

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b. Assuming Jasper has AGI of $45,000, how much lifetime learning credit can Jasper claim on his tax return?

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Income Tax Fundamentals 2011

ISBN: 9780538469197

29th Edition

Authors: Gerald E. Whittenburg, Martha Altus-Buller

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