In the fall of 2018, James went back to school to earn a master of accountancy degree. He incurred $7,000 of qualified educational expenses and his modified AGI for the year was $40,000. His Lifetime Learning Credit is ___________.
A) $1,000.
B) $1,400.
C) $1,800.
D) $2,500.
B) $1,400.
The Lifetime Learning Credit applies to qualified tuition and related expenses incurred beyond the first four years of college and is computed as 20% of expenses up to $10,000. ($7,000 × 20% = $1,400)
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The post reference columns are used to trace transactions from the journal to the accounts. What will be posted on the post reference column of (a) the journal and (b) on the account?
A) (a) the amount of the debit or credit (b) the journal page number B) (a) the journal page number (b) the date of the transaction C) (a) the journal page number, (b) the account number D) (a) the account number, (b) the journal page number
The ______ requires that all employers maintain information at each work site that describes any chemical hazards that may be present on-site.
A. Affordable Care Administration B. Workers’ Compensation Administration C. Occupational Safety and Health Administration D. Social Security Administration
Your company has asked you to launch a new product campaign at a trade show. You have found that there are established competitors with many advantages, making it difficult to break into the market. However, you recommend displacing these competitors' business by
A. increasing costs of production. B. establishing an inefficient supply chain. C. using competitors' brand identification. D. offering promotions and price breaks, intensive selling, and other tactics. E. introducing the product at a higher price.
An employer can eliminate a worker’s medical, optical, or dental insurance coverage on the voluntary termination of the worker’s employment.
Answer the following statement true (T) or false (F)