Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2018, In December attended full-tirme Jeremy and Celeste, who file a joint return, paid the following amounts for their daughter, Alyssa, to attend the University
2018, In December attended full-tirme Jeremy and Celeste, who file a joint return, paid the following amounts for their daughter, Alyssa, to attend the University of Colorado, during academic year 2016-2017. Alyssa was in her first year of college and Tuition and tces (for fall semester 2016) Tuition and fees (for spring semester 2017) Books Room and board 52,030 1,035 ,320 1,450 The spring semester at University of Colorado begins in Janueary. In addition to the above, Alyssa's uncle Devin sent $500 as payment for her tuition directly to the University. Jeremy and Celeste heve modified AGl of $168,000. What is the amount of qualifying expenses for purposes of the Aierican Opporturity Tax credit (AOTC) i tax year 20162 What is the amournt of the AOTC that Jeremy and Celesle cari clairm besed on their AGI? (Do not round your intermediate computations.) Qualifying expenses for the AOTC AOTC claimable
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