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Business, 06.01.2021 18:10 hardwick744

Students all year at State College, located at 11100 College Boulevard, Your City, Your State. During the year, Anthony paid $5,000 in tuition and fees, substantiated with Form 1098-T. Nicole paid $3,800 in tuition and fees, also substantiated with Form 1098-T. Both Anthony and Nicole have part-time jobs outside of school. They did not receive any scholarships during the year. Their adjusted gross income is $47,000. Their total tax on line 12a of their federal Form 1040 is $2,327. They had no additional taxes. Both Anthony and Nicole meet all the requirements to qualify for the American Opportunity Tax Credit. Required:
a. Assuming that all other requirements are met, what is the refundable amount of Anthony and Nicole's American Opportunity Credit?
b. Assuming that all other requirements are met, what is the amount of anthony and nicoles nonrefundable american opportunity credit?

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Students all year at State College, located at 11100 College Boulevard, Your City, Your State. Durin...
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