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Julien and Sarah are married, file a joint return, and have two dependent children, Kaya and Christopher. Kaya just finished her third year at college and Christopher just finished his first year of graduate school (fifth year of college). Tuition and books for the past year were $1,800 for Kaya and $5,000 for Christopher. How much can Julien and Sarah claim for the following educational credits if their joint AGI was $170,000 for 2021? Amount of their American Opportunity Credit Amount of their Lifetime Learning Credit

Julien and Sarah are married, file a joint return, and have two dependent children, Kaya and Christopher. Kaya just finished her third year at college and Christopher just finished his first year of graduate school (fifth year of college). Tuition and books for the past year were $1,800 for Kaya and $5,000 for Christopher. How much can Julien and Sarah claim for the following educational credits if their joint AGI was $170,000 for 2021? Amount of their American Opportunity Credit Amount of their Lifetime Learning Credit

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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Julien and Sarah are married, file a joint return, and have two dependent children, Kaya and Christopher. Kaya just finished her third year at college and Christopher just finished his first year of graduate school (fifth year of college). Tuition and books for the past year were $1,800 for Kaya and $5,000 for Christopher. How much can Julien and Sarah claim for the following educational credits if their joint AGI was $170,000 for 2021? Amount of their American Opportunity Credit Amount of their Lifetime Learning Credit
Transcribed Image Text:Julien and Sarah are married, file a joint return, and have two dependent children, Kaya and Christopher. Kaya just finished her third year at college and Christopher just finished his first year of graduate school (fifth year of college). Tuition and books for the past year were $1,800 for Kaya and $5,000 for Christopher. How much can Julien and Sarah claim for the following educational credits if their joint AGI was $170,000 for 2021? Amount of their American Opportunity Credit Amount of their Lifetime Learning Credit
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