The American opportunity tax credit and lifetime learning credit are available to all taxpayers regardless of their income level.
Correct Answer:
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Q17: Taxpayers are not allowed to deduct the
Q18: The kiddie tax does not apply to
Q19: Long-term capital gains, dividends, and taxable interest
Q20: Generally, income from an active trade or
Q21: The American opportunity tax credit is available
Q23: John and Sally pay Janet (Sally's older
Q24: All else equal, taxpayers are more likely
Q25: Employees must pay both Social Security tax
Q26: The lifetime learning credit can be used
Q27: Parents may claim a child and dependent
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