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Paola and Isidora are married; file a joint tax return; report modified AGI of $124,310; and have one dependent child, Dante. The couple paid $13,245 of tuition and $11,085 for room and board for Dante (a freshman). Dante is a full-time student and claimed as a dependent by Paola and Isidora. Determine the amount of the American Opportunity credit for 2022.

Paola and Isidora are married; file a joint tax return; report modified AGI of $124,310; and have one dependent child, Dante. The couple paid $13,245 of tuition and $11,085 for room and board for Dante (a freshman). Dante is a full-time student and claimed as a dependent by Paola and Isidora. Determine the amount of the American Opportunity credit for 2022.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Paola and Isidora are married; file a joint tax return; report modified AGI of $124,310; and have one dependent child, Dante. The couple paid $13,245 of tuition and $11,085 for room and board for Dante (a freshman). Dante is a full-time student and claimed as a dependent by Paola and Isidora. Determine the amount of the American Opportunity credit for 2022.
Transcribed Image Text:Paola and Isidora are married; file a joint tax return; report modified AGI of $124,310; and have one dependent child, Dante. The couple paid $13,245 of tuition and $11,085 for room and board for Dante (a freshman). Dante is a full-time student and claimed as a dependent by Paola and Isidora. Determine the amount of the American Opportunity credit for 2022.
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