User Account

All Pages

What is the amount of his education credit

Assignment Help Accounting Basics
Reference no: EM132639743

Question - Joshua is a 25-year-old graduate school student who paid $15,000 in tuition and fees to an eligible educational institution in 2019. He received a Form 1098-T. Joshua works part-time at a local firm and had wages of $22,500. He has no other income or nonrefundable tax credits. His tax liability on Form 1040, line 12a is $1,045. What is the amount of his education credit for 2019?

a. $3,000

b. $1,045

c. $2,500

d. $2,000

Reference no: EM132639743

Questions Cloud

Calculate the multiplier for economy x : Use the following information on economy X to answer the questions below.Marginal propensity to consume (c) = 0.6
Case study-fetal abnormality : Which theory or theories are being used by Jessica, Marco, Maria, and Dr. Wilson to determine the moral status of the fetus? Explain.
Contrast expansionary and contractionary fiscal policy : Compare and contrast expansionary and contractionary fiscal policy.
How calculate the copy department costs allocated to sales : During the year, 2,613,100 for sales and 2,074,800 for administration, calculate the copy department costs allocated to sales and administration.
What is the amount of his education credit : Joshua is a 25-year-old graduate school student who paid $15,000 in tuition - What is the amount of his education credit for 2019
Profit maximization problem for a perfectly competitive firm : Formulate a profit maximization problem for a perfectly competitive firm that takes nominal wage rate W; rental price of capital R
Business research design and methodology : Business Research Design and Methodology - demonstrating their understanding of the business research paradigm, appropriate methodology and data collection
About marketing procedures in healthcare organizations : You have been learning about marketing procedures in healthcare organizations. what are two marketing vehicles that may be appropriate for it?
Which of the statements is correct : She is wondering whether she is eligible to claim an education credit on her 2019 tax return. Which of the following statements is correct

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the differential delivery cost per month

What is the differential delivery cost per month for expanding into the home delivery market?

  Calculate the amount of the child and dependent care credit

Calculate the amount of the child and dependent care credit allowed for 2010 - William and Carla file a joint tax return

  Portfolio of assets displayed and compare

On the Balance Sheet a user may look at Retained Earnings along with the portfolio of assets displayed and compare that to the liability side of the Balance Sheet.

  Safe travel produces car seats for children from newborn to

safe travel produces car seats for children from newborn to 2 years old. the company is worried because one of its

  Partnership secretary in the firm of jones

You have been appointed as partnership secretary in the firm of Jones, James & Pitt, Chartered Account- ants. The partnership articles appear on pp 145 - 49. The following problems emerge over a number of partners' meetings:

  Prepare a schedule to determine the gross profit for 2010

Prepare a schedule to determine the gross profit for 2010, 2011, and 2012 from the installment sale.

  What amount of gain should timmons recognize on the exchange

Timmons Company traded machinery with a book value of $600,000 and a fair value of $1,000,000. It received in exchange from Lewis Company a machine.

  What is the cash flows from operating activities amount

Fully depreciated equipment that had cost $27,800 was sold for $520. Based on these facts, what is the Cash Flows from Operating Activities amount

  Identify and describe the accounting concepts

Identify and describe the accounting concepts used - With reference to the conceptual framework, and the debate over measurement in accounting

  What the allotment the balance in the share capital account

All allotment monies were received by 31 August 2014. Following the allotment the balance in the Share Capital account would be

  Hazelton corporation uses a periodic inventory system and

hazelton corporation uses a periodic inventory system and the lifo method to value its inventory. the company began

  Prepare all journal entries required to record acquisition

Required: Prepare all journal entries required to record the acquisition, cost allocation, and disposal of the equipment in proper format

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd