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You have AGI of $50,000. You have two, twin dependents which are full time students. You paid tuition of $18,000 in the current year, $9,000
You have AGI of $50,000. You have two, twin dependents which are full time students. You paid tuition of $18,000 in the current year, $9,000 for each student. Both students are obtaining their first degree and it is their 5 th year of school. They are not convicted of a drug felony. What is the amount of your education credit? $2,500 $4,000 $2,000 $5,000 $3,000 QUESTION 5 Tina worked in Norway for two months in the current tax year. She earned $80,000 exclusively in the United States and $20,000 exclusively in Norway. Tina had to pay $8,000 in income taxes to Norway. Before considering the Foreign Tax Credit, Tina's federal return is showing a tax liability of $16,000. She calculates that $7,000 of this federal tax is specifically related to the income earned in Norway. What is Tina's Foreign Tax Credit? $7,000$0$8,000$16,000
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