Question
Janie graduates from high school in 2020 and enrolls in college in the fall. Her parents (who file a joint return) pay $10,850 for her
Janie graduates from high school in 2020 and enrolls in college in the fall. Her parents (who file a joint return) pay $10,850 for her tuition and fees. If required, round your computations to the nearest whole value.
a. Assuming Janie's parents have AGI of $166,600, what is the American Opportunity tax credit they can claim for Janie?
b. Assuming Janie's parents have AGI of $66,640, what is the American Opportunity tax credit they can claim for Janie?
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Accounting Fundamentals For Health Care Management
Authors: Steven A. Finkler, David M. Ward, Thad Calabrese
3rd Edition
1284124932, 9781284124934
