Janie graduates from high school in 2019 and enrolls in college in the fall. Her parents (who file a joint return) pay $8,725 for her tuition and fees. If required, round your computations to the nearest whole value. a.  Assuming Janie's parents have AGI of $170,000, what is the American Opportunity tax credit they can claim for Janie? $fill in the blank f1e43ef63038fac_1 b.  Assuming Janie's parents have AGI of $68,000, what is the American Opportunity tax credit they can claim for Janie? $fill in the blank da335a09e043f8f_1

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter7: Tax Credits
Section: Chapter Questions
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Janie graduates from high school in 2019 and enrolls in college in the fall. Her parents (who file a joint return) pay $8,725 for her tuition and fees.

If required, round your computations to the nearest whole value.

a.  Assuming Janie's parents have AGI of $170,000, what is the American Opportunity tax credit they can claim for Janie?
$fill in the blank f1e43ef63038fac_1

b.  Assuming Janie's parents have AGI of $68,000, what is the American Opportunity tax credit they can claim for Janie?
$fill in the blank da335a09e043f8f_1

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