Which of the Following Is Not True of the American

question 135

Multiple Choice

Which of the following is not true of the American opportunity credit?

• A) A taxpayer may not claim a credit unless the taxpayer pays a dependent's qualifying educational expenses.
• B) It is phased out based on the taxpayer's AGI.
• C) A taxpayer with multiple eligible dependents can claim a credit for each dependent's qualifying expenses.
• D) The credit is available for students during their first four years of postsecondary education only.

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Definitions:

NAFTA Member Nations

The countries that are part of the North American Free Trade Agreement, aimed at reducing trading costs, increasing business investment, and helping North America be more competitive in the global marketplace.

Trade Restrictions

Measures applied by governments to control the exchange of goods and services across its borders, including tariffs, quotas, and embargoes.

International Commerce

The trade of goods, services, and capital across international borders or territories.