Question
In 2016, Elaine paid $2,800 of tuition and $600 for books for her dependent son to attend State University this past fall as a freshman.
In 2016, Elaine paid $2,800 of tuition and $600 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband.
What is the maximum American opportunity credit that Elaine can claim for the tuition payment and books in each of the following alternative situations?
A. Elaine's AGI is $80,000
American opportunity credit:
B. Elaine's AGI is $168,000
American opportunity credit:
C. Elaine's AGI is $184,000
American Opportunity credit:
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College Accounting A Practical Approach Chapters 1-25
Authors: Jeffrey Slater, Mike Deschamps
15th Edition
0137504284, 9780137504282
