You have AGI of $50,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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QUESTION 4
You have AGI of $50,000. You have two, twin dependents which are full time students. You paid tuition of
$18,000 in the current year, $9,000 for each student. Both students are obtaining their first degree and it
is their 5th year of school. They are not convicted of a drug felony. What is the amount of your education
credit?
$5,000
$2,500
$3,000
$2,000
O $4,000
27
Transcribed Image Text:QUESTION 4 You have AGI of $50,000. You have two, twin dependents which are full time students. You paid tuition of $18,000 in the current year, $9,000 for each student. Both students are obtaining their first degree and it is their 5th year of school. They are not convicted of a drug felony. What is the amount of your education credit? $5,000 $2,500 $3,000 $2,000 O $4,000 27
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