Which of the Following Is Not True of the Lifetime

question 41

Multiple Choice

Which of the following is not true of the lifetime learning credit?

• A)It is a nonrefundable credit.
• B)The credit can be claimed by taxpayers who have graduated from college and are taking professional training courses to improve their job skills.
• C)A taxpayer with multiple dependents can claim a credit for each dependent's qualifying expenses.
• D)The credit is subject to phase-out based on the taxpayer's AGI.

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Definitions:

Newspaper

A publication, generally made of paper and ink, that is distributed on a regular or daily basis and contains news, articles, advertisements, and other information of public interest.

Marginal Utility

The supplementary contentment or value a shopper obtains by buying an extra unit of a certain item or service.

Total Utility

The overall satisfaction or value a consumer receives from consuming a given quantity of goods or services.

Negative Marginal Utility

The decrease in satisfaction or usefulness obtained from consuming one more unit of a product, leading to decreased overall utility.