Paola and Isidora are married; file a joint tax return; report modified AGI of $136,025; and have one dependent child, Dante. The couple paid $8,070 of tuition and $16,035 for room and board for Dante (a freshman). Dante is a full-time student and claimed as a dependent by Paola and Isidora. Determine the amount of the American Opportunity credit for 2023.
Paola and Isidora are married; file a joint tax return; report modified AGI of $136,025; and have one dependent child, Dante. The couple paid $8,070 of tuition and $16,035 for room and board for Dante (a freshman). Dante is a full-time student and claimed as a dependent by Paola and Isidora. Determine the amount of the American Opportunity credit for 2023.
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter10: Individuals: Income, Deductions, And Credits
Section: Chapter Questions
Problem 10CE
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Transcribed Image Text:Paola and Isidora are married; file a joint tax return; report modified AGI of $136,025; and
have one dependent child, Dante. The couple paid $8,070 of tuition and $16,035 for room
and board for Dante (a freshman). Dante is a full-time student and claimed as a dependent
by Paola and Isidora.
Determine the amount of the American Opportunity credit for 2023.
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