Question 40 of 75. Vint and Gracie are married and will file a joint tax return. For 2020, their modified adjusted gross income was $110,000. Gracie has a bachelor's degree in journalism, but she wants to pursue a different line of work. She is currently attending a community college to earn her associate degree in nursing. She paid $3,000 for the fall semester. Vint is not a student. What amount can the couple claim for the lifetime learning credit? SO $200 O $400 $600 Mark for follow up Question 41 of 75. All of these are due diligence requirements for paid tax preparers who prepare returns claiming the American Opportunity Tax Credit (AOTC) EXCEPT: O Complete Form 8863, Education Credits, and attach it to the return. Complete and submit Form 8867, Paid Preparer's Due Diligence Checklist. Request and maintain a copy of the student's academic transcripts. Request that the taxpayer provide substantiation for the credit, such as a Form 1098-T and/or receipts for the qualifying expenses. Mark for follow up Question 42 of 75. Marcus (20) attends State University and is a qualifying student for the purpose of the American Opportunity Tax Credit (AOTC). His parents will claim him as a dependent on their jointly-filed 2020 return. Their adjusted gross income is $125,000, and they paid $14,000 for Marcus' tuition during the year. What is the maximum AOTC Marcus' parents may be eligible to receive? O so O $2,000 $2,500 S4,000 Mark for follow up Question 43 of 75. Greg and Casie are married and will file a joint return. For 2020, their modified adjusted gross income is $80,000. Their dependent daughter, Katelyn (21), is in her third year at State University. Greg and Casie are not students, and they have no other dependents. They paid $6,300 for Katelyn's tuition during the year. What is the maximum American Opportunity Tax Credit (AOTC) they may be eligible to receive? SO O $2.000 $2,500 S5,300 OMark for follow up Question 44 of 75. For the purpose of the American Opportunity Tax Credit (AOTC), qualified tuition and related expenses generally include all of the following EXCEPT: Books required for the student's course of study. O Fees associated with the student's degree program. Room and board at a residence hall operated by the educational institution. Student activity fee required as a condition for enrollment. Mark for follow in