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In 2022, Elaine paid $2,800 of tuition and $640 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? Note: Leave no answer blank. Enter zero if applicable. Required: a. Elaine's AGI is $83,200. b. Elaine's AGI is $166,000. Note: Round your intermediate calculations to the nearest whole dollar amount. c. Elaine's AGI is $198,750. Complete this question by entering your answers in the tabs below. Required A Required B Required C Elaine's AGI is $166,000. Note: Round your intermediate calculations to the nearest whole dollar amount. American opportunity tax credit $ Required A Required C >

In 2022, Elaine paid $2,800 of tuition and $640 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? Note: Leave no answer blank. Enter zero if applicable. Required: a. Elaine's AGI is $83,200. b. Elaine's AGI is $166,000. Note: Round your intermediate calculations to the nearest whole dollar amount. c. Elaine's AGI is $198,750. Complete this question by entering your answers in the tabs below. Required A Required B Required C Elaine's AGI is $166,000. Note: Round your intermediate calculations to the nearest whole dollar amount. American opportunity tax credit $ Required A Required C >

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 2022, Elaine paid $2,800 of tuition and $640 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? Note: Leave no answer blank. Enter zero if applicable. Required: a. Elaine's AGI is $83,200. b. Elaine's AGI is $166,000. Note: Round your intermediate calculations to the nearest whole dollar amount. c. Elaine's AGI is $198,750. Complete this question by entering your answers in the tabs below. Required A Required B Elaine's AGI is $166,000. Note: Round your intermediate calculations to the nearest whole dollar amount. American opportunity tax credit Required C $ < Required A Required C >
Transcribed Image Text:In 2022, Elaine paid $2,800 of tuition and $640 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? Note: Leave no answer blank. Enter zero if applicable. Required: a. Elaine's AGI is $83,200. b. Elaine's AGI is $166,000. Note: Round your intermediate calculations to the nearest whole dollar amount. c. Elaine's AGI is $198,750. Complete this question by entering your answers in the tabs below. Required A Required B Elaine's AGI is $166,000. Note: Round your intermediate calculations to the nearest whole dollar amount. American opportunity tax credit Required C $ < Required A Required C >
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