Which of the Following Is Not a True Statement About

question 95

Multiple Choice

Which of the following is not a true statement about the American opportunity credit (AOC) and lifetime learning credits?

• A)A taxpayer may not report both an AOC and a lifetime learning credit on the same tax return
• B)Certain educational expenses qualify for both credits but taxpayers must claim one credit or the other for the expenditures (the taxpayer cannot claim both credits for the same expenditures)
• C)Taxpayers may choose to either (1) deduct qualifying education expenses of an individual as for AGI deductions or claim educational credits for the individual's expenses (but not both)
• D)The AGI phase-out threshold for phasing out the AOC is higher than the AGI phase-out threshold for the lifetime learning credit.A taxpayer may claim both credits on the same tax return but can't claim both credits for the same individual.

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Definitions:

Peer Pressure

The influence exerted by a peer group in encouraging a person to change their attitudes, values, or behaviors to conform to group norms.

Aggressive Modeling

The process by which individuals learn aggressive behavior by observing and imitating the aggressive actions of models, such as parents, characters on television, or peers.

Self-Reinforcement

The process of rewarding oneself to increase or maintain a behavior, based on personal standards and without external rewards.

The Id

A component of Freud's psychoanalytic theory representing primal desires and drives.