Solved: Dj and gwen have agi of 143000 what is their allowable hope, Accounting Basics

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Dj and gwen have agi of 143000 what is their allowable hope

Question - DJ and Gwen paid $1,200 and $1,950 in qualifying expenses for their two sons, Nikko and Joey, respectively, to attend the University of Colorado. Nikko is a freshman and Joey is a sophomore. DJ and Gwen have AGI of $143,000. What is their allowable Hope credit after the credit phaseout based on AGI is taken into account?

a. $0

b. $1,200

c. $2,725

d. $3,150

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Accounting Basics: Dj and gwen have agi of 143000 what is their allowable hope

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