Question
In 2021, Elaine paid $2,080 of tuition and $880 for books for her dependent son to attend State University this past fall as a freshman.
In 2021, Elaine paid $2,080 of tuition and $880 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 tax credit that Elaine can claim for the tuition payment and books in each of the following alternative situations?
1. Elaines AGI is $104,750.
2. Elaines AGI is $167,500
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Glencoe Accounting Concepts Procedures Applicatons
Authors: McGraw-Hill Education
3rd Edition
0028036174, 978-0028036175
