Required information (The following information applies to the questions displayed below.) In 2020, Elaine paid $2,160 of tuition and $900 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. What is the maximum American opportunity tax credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? (Leave no answer blank. Enter zero if applicable.) b. Elaine's AGI Is $165,500. (Round your intermediate calculations to the nearest whole dollar amount.) American opportunity tax credit
Required information (The following information applies to the questions displayed below.) In 2020, Elaine paid $2,160 of tuition and $900 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. What is the maximum American opportunity tax credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? (Leave no answer blank. Enter zero if applicable.) b. Elaine's AGI Is $165,500. (Round your intermediate calculations to the nearest whole dollar amount.) American opportunity tax credit
Chapter3: Tax Formula And Tax Determination : An Overview Of Property Transactions
Section: Chapter Questions
Problem 21CE: Compute the 2019 standard deduction for the following taxpayers. a. Ellie is 15 and claimed as a...
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Transcribed Image Text:Required information
(The following information applies to the questions displayed below.)
In 2020, Elaine paid $2,160 of tuition and $900 for books for her dependent son to attend State University this past fall as
a freshman. Elaine files a joint return with her husband.
What is the maximum American opportunity tax credit that Elaine can claim for the tuition payment and books in each of
the following alternative situations? (Leave no answer blank. Enter zero if applicable.)
b. Elaine's AGI is $165,500. (Round your intermediate calculations to the nearest whole dollar amount.)
Armerican opportunity tax credit
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