Sunny is 27 and is completing her bachelor's degree at an accredited college during 2019. She paid $7,500 in tuition during 2019 along with $300 in activity fees to be able to complete the needed classes on a full time basis. Sunny's AGI for 2019 will be $46,000. She will not be eligible to use any other education credits during 2019. What deduction for AGI will Sunny be able to claim in 2019 for her school expenses.
Sunny is 27 and is completing her bachelor's degree at an accredited college during 2019. She paid $7,500 in tuition during 2019 along with $300 in activity fees to be able to complete the needed classes on a full time basis. Sunny's AGI for 2019 will be $46,000. She will not be eligible to use any other education credits during 2019. What deduction for AGI will Sunny be able to claim in 2019 for her school expenses.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sunny is 27 and is completing her bachelor's degree at an accredited college during 2019. She paid $7,500 in tuition during 2019 along with $300 in activity fees to be able to complete the needed classes on a full time basis. Sunny's AGI for 2019 will be $46,000. She will not be eligible to use any other education credits during 2019. What deduction for AGI will Sunny be able to claim in 2019 for her school expenses.
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