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Can you help me answer this question? Thank you for your time. 10. Education Tax Credit. (Obj. 2) Curt and Kathy Norton paid $3,200 of
Can you help me answer this question? Thank you for your time.
10. Education Tax Credit. (Obj. 2) Curt and Kathy Norton paid $3,200 of tuition for their son, who attends college less than half-time. Of this amount, $1,500 was paid on December 28, 2015, for the Spring 2016 semester, and $1,700 was paid on August 4, 2016, for the Fall 2016 semester. a. Compute the Norton's 2016 education tax credit if AGI is $71,900. How much of their credit is refundable versus nonrefundable? b. Same as in Part a., except that the Norton's AGI is $119,816Step by Step Solution
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