Question
In 2017 Sara and Scott have one child, Randy, who is 8 years old. They file as married filing jointly and claim the child tax
In 2017 Sara and Scott have one child, Randy, who is 8 years old. They file as married filing jointly and claim the child tax credit for Randy. Their AGI in 2017 was $112,700. How much is their total child tax credit?
Select one:
a. $850
b. $0
c. $1,000
d. $2,000
In 2018 Cornelia, a single taxpayer with AGI of $63,000, spends $25,000 in tuition for her master's degree. What type and amount of education credit can she claim?
Select one:
a. $2,500 of American Opportunity Tax Credit
b. $2,000 of Lifetime Learning Credit
c. $1,000 of Lifetime Learning Credit
d. She cannot claim any education credit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started