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In 2021, Santiago and Amy are married and file a joint tax return. They have three dependent children, ages 4, 14, and 23. All parties are U.S. citizens. Their AGI is $134,400. Santiago and Amy's child tax credit for 2021 is $ and dependent tax credit is $

In 2021, Santiago and Amy are married and file a joint tax return. They have three dependent children, ages 4, 14, and 23. All parties are U.S. citizens. Their AGI is $134,400. Santiago and Amy's child tax credit for 2021 is $ and dependent tax credit is $

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In 2021, Santiago and Amy are married and file a joint tax return. They have three dependent children, ages 4, 14, and 23. All parties are U.S. citizens. Their AGI is $134,400. Santiago and Amy's child tax credit for 2021 is $ Transcribed Text LA and dependent tax credit is $ Paola and Isadora are married, file a joint tax return, and have one dependent child, Dante. The Shaws report modified AGI of $134,960. The couple paid $10,485 of tuition and $12,075 for room and board for Dante Dante, a full-time first-year student at Serene College and claimed as a dependent by Paola and Isadora. Determine the amount of the Shaws' American Opportunity credit for 2021.
Transcribed Image Text:In 2021, Santiago and Amy are married and file a joint tax return. They have three dependent children, ages 4, 14, and 23. All parties are U.S. citizens. Their AGI is $134,400. Santiago and Amy's child tax credit for 2021 is $ Transcribed Text LA and dependent tax credit is $ Paola and Isadora are married, file a joint tax return, and have one dependent child, Dante. The Shaws report modified AGI of $134,960. The couple paid $10,485 of tuition and $12,075 for room and board for Dante Dante, a full-time first-year student at Serene College and claimed as a dependent by Paola and Isadora. Determine the amount of the Shaws' American Opportunity credit for 2021.
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