contestada

Mr. and Mrs. Baker, who file a joint tax return, have an adjusted gross income of $75,000 for 2020. Their son, Tony, began his fifth year of college on July 15, 2020. The Bakers’ expenses incurred in 2020 were $6,000 for tuition. What is the amount of Lifetime Learning Credit the Bakers may claim in 2020?


A.
$1,200

B.
$6,000

C.
$2,000

D.
$10,000

Respuesta :

abiolataiwo2015

The   amount of Lifetime Learning Credit the Bakers may claim in 2020 is: B. $6,000.

Lifetime learning credit

Since the expenses that was incurred in the 2020 was the amount of $6,000 which means that the amount of Lifetime Learning Credit the that may be claim in 2020 is $6,000.

Reason being that the child as well as the dependent care credit for the current year cannot be more than $6,000.

Therefore the correct option is B.

Learn more about Lifetime learning credit here:https://brainly.com/question/15074499

#SPJ1

Otras preguntas