Joe,who Is Single with Modified AGI of $84,000,is Sending His

question 93

Multiple Choice

Joe,who is single with modified AGI of $84,000,is sending his son to his first year of college.The total tuition and related payments during the year amounted to $18,000.Joe has not taken advantage of any other type of tax benefit related to educational expenses.His American Opportunity Tax Credit is

• A)$0.
• B)$1,000.
• C)$1,500.
• D)$2,500.

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Definitions:

Reasoning

Analyzing a subject methodically through logical reasoning to reach a decision or judgement.

Prior Knowledge

Information and understandings that individuals bring to a new learning experience, influencing how they absorb new information.

Fluid Intelligence

The aspect of intelligence involving the ability to reason quickly and to think abstractly, often seen as the capacity to solve novel problems.