Question
Problem 7-19 (Algorithmic) Education Tax Credits (LO 7.5) Janie graduates from high school in 2019 and enrolls in college in the fall. Her parents (who
Problem 7-19 (Algorithmic)
Education Tax Credits (LO 7.5)
Janie graduates from high school in 2019 and enrolls in college in the fall. Her parents (who file a joint return) pay $13,350 for her tuition and fees.
If required, round your computations to the nearest whole value.
a.Assuming Janie's parents have AGI of $170,600, what is the American Opportunity tax credit they can claim for Janie?
b.Assuming Janie's parents have AGI of $68,240, what is the American Opportunity tax credit they can claim for Janie?
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Modern Advanced Accounting in Canada
Authors: Hilton Murray, Herauf Darrell
8th edition
1259087557, 1057317623, 978-1259087554
