Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ariana and John, who file a joint return, have two dependent children, Kai and Angel. Kai is a freshman at State University, and Angel is

Ariana and John, who file a joint return, have two dependent children, Kai and Angel. Kai is a freshman at State University, and Angel is working on her graduate degree. The couple paid qualified expenses of $3,700 for Kai (who is a half-time student) and $8,000 for Angel. Required: a. What education tax credits are available if Ariana and John report modified AGI of $173,900? b. What education tax credits are available if Ariana and John report modified AGI of $173,900 and Angel is taking one class a semester (is less than a half-time student) and not taking classes in a degree program? Complete this question by entering your answer in the tabs below. Required A Required B What education tax credits are available if Ariana and John report modified AGI of $173,900? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Dependent Kai Angel Total Amount of Credit $ 0 Answer is not complete. Type of Credit AOTC Lifetime learning credit
image text in transcribed
image text in transcribed
Ariana and John, who file a joint return, have two dependent children, Kai and Angel. Kal is a freshman at State University, and Angel i working on her graduate degree. The couple paid qualified expenses of $3,700 for Kai (who is a half-time student) and $8,000 for Angel. Requlred: a. What education tax credits are avallable if Ariana and John report modifled AGI of $173,900 ? b. What education tax credits are avallable if Ariana and John report modified AGI of $173,900 and Angel is taking one class a semester (is less than a half-time student) and not taking classes In a degree program? Answer is not complete. Complete this question by entering your answer in the tabs below. What education tax credits are avallable if Ariana and John report modifled AGI of $173,900 ? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount. Ariana and John, who file a joint return, have two dependent children, Kai and Angel. Kai is a freshman at State University, and Angel is working on her graduate degree. The couple paid qualified expenses of $3,700 for Kal (who is a half-time student) and $8,000 for Angel, Required: a. What education tax credits are avallable if Ariana and John report modified AGI of $173,900 ? b. What education tax credits are avallable If Ariana and John report modified AGI of $173,900 and Angel is taking one class a semester (is less than a half-time student) and not taking classes in a degree program? (8) Answer is not complete. Complete this question by entering your answer in the tabs below. What education tax credits are avallable if Ariano and John report modified AGI of $173,900 ? Note: Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Corporate Financial Accounting

Authors: Carl S. Warren, James M. Reeve

9th Edition

0324381921, 978-0324381924

More Books

Students also viewed these Accounting questions

Question

If X = 17 and Y = 29.37, then the value 29.37 is a ____ estimate.

Answered: 1 week ago

Question

=+a) Find a linear model for this series.

Answered: 1 week ago

Question

Explain the importance of prioritizing training and HRD needs

Answered: 1 week ago