Hal Is Enrolled for One Class at a Local Community

question 35

Multiple Choice

Hal is enrolled for one class at a local community college; tuition cost him $190. Hal's AGI is $20,000. Before considering a limitation due to tax liability, Hal can take a lifetime learning credit of:

• A)$0
• B)$38
• C)$100
• D)$190
• E)$250

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Definitions:

Shareholders

Individuals or entities that own shares in a corporation, giving them certain rights and a stake in its performance.

Lawsuit

A legal action brought in court by one party against another for the purpose of obtaining a remedy or resolution for a dispute.

Shareholder's Agreements

Contracts among a company's shareholders that describe their rights, obligations, and the company's operations.