Question
9-51 (LO 9-3) Walt and Deloris have two dependent children, Bill and Tiffany.Bill is a freshman at State University, and Tiffany is working on her
Walt and Deloris have two dependent children, Bill and Tiffany.Bill is a freshman at State University, and Tiffany is working on her graduate degree.The couple paid qualified expenses of $2,400 for Bill (who is a half-time student) and $6,100 for Tiffany.What are the amount and type of education tax credits that Walt and Deloris can take, assuming they have no modified AGI limitation?
Problem 9-51 (LO 9-3)
Walt and Deloris have two dependent children, Bill and Tiffany.Bill is a freshman at State University, and Tiffany is working on her graduate degree.The couple paid qualified expenses of $2,400 for Bill (who is a half-time student) and $6,100 for Tiffany.What are the amount and type of education tax credits that Walt and Deloris can take, assuming they have no modified AGI limitation?
Amount of credit Type of Credit ( AOTC or Lifetime learning credit)
Bill
Tiffany
Total
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Ethical Obligations and Decision Making in Accounting Text and Cases
Authors: Steven M. Mintz, Roselyn E. Morris
5th edition
1259969460, 73403997, 1260480852, 978-1259969461
