Roger and Nicole are married filing a joint income tax return. Their AGI for 2021 is $98,000. They are both taking classes to earn their graduate degrees. During 2021, Roger's tuition expenses totaled $7,500 while Nicole's expenses were $6,800. They are not eligible for the American Opportunity Tax Credit because they claimed the credit during the four years they were undergraduate students. What is their Lifetime Learning tax credit for 2021? $0 $2,860 $2,000 $2,500

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Roger and Nicole are married filing a joint income tax return. Their AGI for 2021 is $98,000. They are both taking classes to earn their graduate
degrees. During 2021, Roger's tuition expenses totaled $7,500 while Nicole's expenses were $6,800. They are not eligible for the American Opportunity
Tax Credit because they claimed the credit during the four years they were undergraduate students. What is their Lifetime Learning tax credit for 2021?
$0
$2,860
$2,000
$2,500
2:41 PM
55°F
12/14/2021
Transcribed Image Text:Roger and Nicole are married filing a joint income tax return. Their AGI for 2021 is $98,000. They are both taking classes to earn their graduate degrees. During 2021, Roger's tuition expenses totaled $7,500 while Nicole's expenses were $6,800. They are not eligible for the American Opportunity Tax Credit because they claimed the credit during the four years they were undergraduate students. What is their Lifetime Learning tax credit for 2021? $0 $2,860 $2,000 $2,500 2:41 PM 55°F 12/14/2021
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