Question
Problem 7-19 (Algorithmic) Education Tax Credits (LO 7.5) Janie graduates from high school in 2022 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 2022 and enrolls in college in the fall. Her parents (who file a joint return) pay $13,100 for her tuition and fees.
If required, round your computations to the nearest whole value.
Question Content Area
a. Assuming Janie's parents have AGI of $170,800, what is the American Opportunity tax credit they can claim for Janie?
Question Content Area
b. Assuming Janie's parents have AGI of $68,320, what is the American Opportunity tax credit they can claim for Janie?
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Fundamentals Of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
1st Edition
0072992573, 9780072992571
