Ariana and John, who file a joint return, have two dependent children, Kai and Angel. Kai is a freshman at State University, and Angel is working on her graduate degree. The couple paid qualified expenses of $2,500 for Kal (who is a half-time student) and $7,500 for Angel. Required: What are the amount and type of education tax credits that Ariana and John can take, assuming they have no modified AGI limitation? Dependent Kai Angel Total Amount of Credit $ 0 Type of Credit

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Ariana and John, who file a joint return, have two dependent children, Kai and Angel. Kai is a freshman at State University.
and Angel is working on her graduate degree. The couple paid qualified expenses of $2,500 for Kai (who is a half-time
student) and $7,500 for Angel.
Required:
What are the amount and type of education tax credits that Ariana and John can take, assuming they have no modified AGI
limitation?
Dependent
Kai
Angel
Total
Amount of Credit
$
0
Type of Credit
Transcribed Image Text:Ariana and John, who file a joint return, have two dependent children, Kai and Angel. Kai is a freshman at State University. and Angel is working on her graduate degree. The couple paid qualified expenses of $2,500 for Kai (who is a half-time student) and $7,500 for Angel. Required: What are the amount and type of education tax credits that Ariana and John can take, assuming they have no modified AGI limitation? Dependent Kai Angel Total Amount of Credit $ 0 Type of Credit
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