Question
38- Janie graduates from high school in 2020 and enrolls in college in the fall. Her parents (who file a joint return) pay $6,475 for
38-
Janie graduates from high school in 2020 and enrolls in college in the fall. Her parents (who file a joint return) pay $6,475 for her tuition and fees.
If required, round your computations to the nearest whole value.
a. Assuming Janie's parents have AGI of $161,200, what is the American Opportunity tax credit they can claim for Janie?
b. Assuming Janie's parents have AGI of $64,480, what is the American Opportunity tax credit they can claim for Janie?
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Financial Accounting Tools For Business Decision Making
Authors: Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt
8th Edition
1119316022, 978-1119316022
