Paola and Isidora are married; file a joint tax return; report modified AGI of $146,675; and have one dependent child, Dante. The couple paid $13,590 of tuition and $9,930 for room and board for Dante (a freshman). Dante is a full-time student and claimed as a dependent by Paola and Isidora. Determine the amount of the American Opportunity credit for the year.

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Filing Federal Income Tax Return

A tax is the amount of money paid to the government on the revenue earned by the individual or business organization. It acts as an income for the government and an expense for the individual or business organization. There are different regulations regarding filing an income tax return in other countries.