Question
shelly (26) is a full-time sophomore at Sam Houston State University with perfect eyesight. She is a single taxpayer, cannot be claimed as a dependent
shelly (26) is a full-time sophomore at Sam Houston State University with perfect eyesight. She is a single taxpayer, cannot be claimed as a dependent on anyones tax return, and qualifies for the American Opportunity Tax Credit. She had the following income and educational expenses for the year: $15,000 tuition and fees $14,000 scholarships $700 for textbooks $8,000 room and board $25,000 in wages from the State of Texas To maximize her American Opportunity Tax Credit, how much of the scholarship should she allocate to room and board expenses?
a. $2,300 b. $800
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