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What is the American Opportunity credit they can claim

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Reference no: EM132953739

Question - Austin graduates from high school in 2020 and enrolls in a private college in the fall. His parents pay $12,000 for his tuition and fees.

a. Assuming Austin's parents have AGI of $73,000, what is the American Opportunity credit they can claim for John? Explain.

b. Assuming Austin's parents have AGI of $174,000, what is the American Opportunity credit they can claim for John? Explain.

Reference no: EM132953739

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