An independent student has a modified adjusted gross income of $25,000 and qualifying educational expenses of $18,000. If the American Opportunity Tax Credit is used, what is the amount of the tax credit?
An independent student has a modified adjusted gross income of $25,000 and qualifying educational expenses of $18,000. If the American Opportunity Tax Credit is used, what is the amount of the tax credit?
Chapter3: Tax Formula And Tax Determination : An Overview Of Property Transactions
Section: Chapter Questions
Problem 11CPA
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An independent student has a modified adjusted gross income of $25,000 and qualifying educational expenses of $18,000. If the American Opportunity Tax Credit is used, what is the amount of the tax credit?
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