Multiple Choice
Kyle and Alyssa paid $1,000 and $2,000 in qualifying expenses for their two daughters Jane and Jill,respectively,to attend the University of California.Jane is a sophomore and Jill is a freshman.Kyle and Alyssa's AGI is $132,000 and they file a joint return.What is their allowable American opportunity tax credit after the credit phase-out based on AGI is taken into account?
A) $0.
B) $2,000.
C) $3,000.
D) $3,700.
Correct Answer:
Verified
Correct Answer:
Verified
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