61) Warren and Erika paid $9,300 in qualified expenses for : 2125630
61) Warren and Erika paid $9,300 in qualified expenses for their son, Cash, to attend the University of Washington. Cash is in his first year of college and attended full-time. How much is Warren and Erika's American opportunity tax credit, without regard to any AGI limitation?
62) Gina has $39,000 total taxable income, which includes $6,000 of taxable income from Argentina. She paid $1,200 in foreign income taxes and her U.S. tax liability is $3,610. Gina's foreign tax credit is: (Do not round interim calculations)
63) Which of the following conditions must be met for a taxpayer to be able to claim the foreign tax credit without filing Form 1116?
A) All of the foreign-source income is passive income.
B) Total foreign taxes paid were less than $300 ($600 if married filing jointly).
C) Taxpayer is not subject to foreign tax limitation rules.
D) All of these must be met.
64) Tina has $93,000 total taxable income, which includes $18,000 of taxable income from Japan. She paid $2,200 in foreign income taxes and her U.S. tax liability is $19,610. Tina's foreign tax credit is: (Do not round interim calculations)
65) Max paid $2,500 in foreign income taxes to Peru. His total income was $65,000, which included $9,000 of foreign income. His U.S. tax liability is $17,750. How much can Max claim as foreign tax credit? (Do not round interim calculations.)