Question

In 2017, Elaine paid $2,360 of tuition and $780 for books for her dependent son to...

In 2017, Elaine paid $2,360 of tuition and $780 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. What is the maximum American opportunity credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? (Round your intermediate calculations to two decimal places and final answer to the nearest whole dollar amount. Leave no answer blank. Enter zero if applicable.)

b. Elaine’s AGI is $161,500.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
In 2017, Elaine paid $2,800 of tuition and $600 for books for her dependent son to...
In 2017, Elaine paid $2,800 of tuition and $600 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. What is the maximum American opportunity credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? (Leave no answer blank. Enter zero if applicable.) b. Elaine’s AGI is $168,000. c. Elaine’s AGI is $184,000.
In 2019, Elaine paid $2,920 of tuition and $840 for books for her dependent son to...
In 2019, Elaine paid $2,920 of tuition and $840 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. What is the maximum American opportunity tax credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? (Leave no answer blank. Enter zero if applicable.) a. Elaine’s AGI is $90,750.
In 2019, Elaine paid $2,000 of tuition and $680 for books for her dependent son to...
In 2019, Elaine paid $2,000 of tuition and $680 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. What is the maximum American opportunity tax credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? (Leave no answer blank. Enter zero if applicable.) A. Elaine’s AGI is $103,000. American opportunity tax credit
In 2017, Elaine paid $2,800 of tuition and $640 for books for her dependent son to...
In 2017, Elaine paid $2,800 of tuition and $640 for books for her dependent son to attend State University this past fall as a freshman. Elaine files a joint return with her husband. What is the maximum American opportunity credit that Elaine can claim for the tuition payment and books in each of the following alternative situations? a. what is Elaine AGI at $83,200. b. what is Elaine AGI at $166,000
1. Lacy is a single taxpayer. In 2017, her taxable income is $47,200. What is her...
1. Lacy is a single taxpayer. In 2017, her taxable income is $47,200. What is her tax liability in each of the following alternative situations? Use Tax Rate Schedule for reference. (Do not round intermediate calculations. Round your answer to 2 decimal places.) a. All of her income is salary from her employer. Tax liability: ____?____ 2. In 2017, Carson is claimed as a dependent on his parent's tax return. His parents' ordinary income marginal tax rate is 28 percent....
*Please clearly label what answer is for each question.* a. Trey claims a dependency exemption for...
*Please clearly label what answer is for each question.* a. Trey claims a dependency exemption for both of his daughters, ages 10 and 12, at year-end. Trey files a joint return with his wife. What amount of child credit will Trey be able to claim for his daughters. His AGI is $123,000. b. In 2017, Elaine paid $2,760 of tuition and $1,060 for books for her dependent son to attend State University this past fall as a freshman. Elaine files...
In 2018, Laureen is currently single. She paid $2,600 of qualified tuition and related expenses for...
In 2018, Laureen is currently single. She paid $2,600 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,600 each for a total of $5,200). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,850 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,350 for herself to attend seminars at a community college...
[The following information applies to the questions displayed below.] In 2020, Laureen is currently single. She...
[The following information applies to the questions displayed below.] In 2020, Laureen is currently single. She paid $2,720 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,720 each for a total of $5,440). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,910 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,410...
In 2019, Laureen is currently single. She paid $2,800 of qualified tuition and related expenses for...
In 2019, Laureen is currently single. She paid $2,800 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,800 each for a total of $5,600). Sheri and Meri qualify as Laureen’s dependents. Laureen also paid $1,900 for her son Ryan’s (also Laureen’s dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,200 for herself to attend seminars at a community college...
In 2019, Susan (44 years old) is a highly successful architect and is covered by an...
In 2019, Susan (44 years old) is a highly successful architect and is covered by an employee-sponsored plan. Her husband, Dan (47 years old), however, is a PhD student and is unemployed. Compute the maximum deductible IRA contribution for each spouse in the following alternative situations. (Leave no answer blank. Enter zero if applicable.) a. Susan’s salary and the couple’s AGI is $205,000. The couple files a joint tax return. b. Susan’s salary and the couple’s AGI is $124,000. The...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT