Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Josh is a MFJ taxpayer and decides to return to school to get a graduate degree at night school while still working his full-time job.

Josh is a MFJ taxpayer and decides to return to school to get a graduate degree at night school while still working his full-time job. He is able to take class part time. Josh and his husband have an AGI of $124,000, his tuition costs were $15,000, and his books are $1,500. Josh already attended four years of college and used the American Opportunity Tax Credit all four years. How much of a LTL tax credit is he eligible to take in 2020?

Group of answer choices

$1,500

$2,000

$1,000

None of these amounts.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial And Managerial Accounting Working Papers Volume I

Authors: Belverd E. Needles

7th Edition

061839365X, 978-0618393657

More Books

Students also viewed these Accounting questions