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A married couple has two children in college. The sum of the American Opportunity Credit before phaseout is $5,000. If the couple's Modified AG I

  1. A married couple has two children in college. The sum of the American Opportunity Credit before phaseout is $5,000. If the couple's Modified AG I is $175,000, how much of the credits will be applied against their tax liability? The phaseout for MFJ is $160,000-S180,000.

How much is refundable vs. non-refundable?

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