Income Tax Fundamentals 2020
Income Tax Fundamentals 2020
38th Edition
ISBN: 9780357391129
Author: WHITTENBURG
Publisher: Cengage
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Chapter 7, Problem 8MCQ
To determine

Introduction:The education tax credit is intended to reduce the cost of higher education for taxpayers. They are two types of tax credits available, American opportunity tax credit AOTC and lifetime learning credit LLC. AOTC is available for qualifying low income and middle income for higher education and LLC is available for qualified expenses paid for the education of taxpayers.

To choose:The correct answer to determine the American opportunity tax credit for J’s tuition fee before any AGI limitations

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