Question
Janie graduates from high school in 2020 and enrolls in college in the fall. Her parents (who file a joint return) pay $7,850 for her
Janie graduates from high school in 2020 and enrolls in college in the fall. Her parents (who file a joint return) pay $7,850 for her tuition and fees.
If required, round your computations to the nearest whole value.
a. Assuming Janie's parents have AGI of $164,000, what is the American Opportunity tax credit they can claim for Janie?
b. Assuming Janie's parents have AGI of $65,600, what is the American Opportunity tax credit they can claim for Janie?
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Financial Accounting Reporting Analysis And Decision Making
Authors: Shirley Carlon, Rosina Mcalpine, Chrisann Lee, Lorena Mitrione, Ngaire Kirk, Lily Wong
7th Edition
0730395294, 978-0730395294
