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Assuming they meet all other requirements, which of these taxpayer's could claim the American Opportunity Tax Credit?
Mary is claimed by her parents, but would like to claim her own education credit.
John would like to claim the AOTC for his son, who is attending a private secondary school.
Julie is a full-time student working toward her MA and would like to claim the AOTC.
Jerry would like to claim the AOTC for his son, who is a sophomore at a state university.

Respuesta :

Jerry would like to claim the AOTC for his son, who is a sophomore at a state university. Hence, option (d) can be regarded as relevant.

Give a brief account on American Opportunity Tax Credit.

In Section 1004 of the American Recovery and Reinvestment Act of 2009, the American Opportunity Tax Credit, a partially refundable tax credit, was first described.

The law provides that:

  1. The Bipartisan Budget Act of 2015 made provisions for the first four years of post-secondary education that were initially only applicable to tax years 2009 and 2010 permanent.
  2. Expands the Hope credit to cover all qualified tuition, fees, and course materials that the taxpayer paid for the tax year up to a maximum of $2,000 plus 25% of the subsequent $2,000 in qualified tuition, fees, and course materials. The total credit is limited to $2,500.
  3. There is a return of 40% of the credit.
  4. For taxpayers with adjusted gross income over $80,000 ($160,000 for married couples filing jointly), this tax benefit is subject to a phase-out.

To know more about, AOTC, visit :

https://brainly.com/question/15309098

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