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Author Question: In the fall of 2016, Gina went back to school to earn a master of taxation degree. She incurred ... (Read 87 times)

Collmarie

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Question 1

In 2016 Rita is divorced with one child. She has AGI of $20,000 resulting in a federal income tax liability of $260 and an earned income credit of $3,137. She has had $550 of federal income taxes withheld from her pay. Rita will receive a federal income refund of
◦ $550.
◦ $325.
◦ $3,137.
◦ $3,427.

Question 2

In the fall of 2016, Gina went back to school to earn a master of taxation degree. She incurred $7,000 of qualified educational expenses and her modified AGI for the year was $57,000. Her Lifetime Learning Credit is
◦ $2,500.
◦ $1,400.
◦ $280.
◦ $1,120.


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Marked as best answer by Collmarie on Sep 13, 2020

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Collmarie

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Reply 2 on: Sep 13, 2020
Excellent


Liddy

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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