Question
18. In 2022, Elaine paid $3,000 of tuition and $700 for books for her dependent son to attend State University this past fall as a
18. In 2022, Elaine paid $3,000 of tuition and $700 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. Elaines AGI is $168,000.What is the maximum American opportunity credit Elaine can claim for the tuition payment and books?
19. In 2022, Amanda and Jaxon Stuart have a daughter who is one year old. The Stuarts are full-time students and they are both 23 years old. Their AGI is $31,000, consisting of $26,000 of wages and $5,000 of lottery winnings (unearned income). What is their earned income credit if they file jointly?
20. In 2022, Amanda and Jaxon Stuart have a daughter who is one year old. The Stuarts are full-time students and they are both 23 years old. Their AGI is $31,000, consisting of $8,000 of wages and $23,000 of lottery winnings (unearned income). What is their earned income credit if they file jointly?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started