John graduates from high school in 2014 and enrolls in a private college in the fall. His parents pay $10,000 for his tuition and fees.
a. Assuming John's parents have AGI of $46,000, what is the American Opportunity credit they can claim for John? Explain.
b. Assuming John's parents have AGI of $175,000, what is the American Opportunity credit they can claim for John? Explain.

Question

Quizplus · Accepted Answer

The Answer of John graduates from high school in 2014 and enrolls in a private college in the fall. His parents pay $10,000 for his tuition and fees.
a. Assuming John's parents have AGI of $46,000, what is the American Opportunity credit they can claim for John? Explain.
b. Assuming John's parents have AGI of $175,000, what is the American Opportunity credit they can claim for John? Explain.

John Graduates from High School in 2014 and Enrolls in a Private