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7- Please explain A-Walt and Deloris, who file a joint return, have two dependent children, Bill and Tiffany. Bill is a freshman at State University,

7- Please explain

A-Walt and Deloris, who file a joint return, have two dependent children, Bill and Tiffany. Bill is a freshman at State University, and Tiffany is working on her graduate degree. The couple paid qualified expenses of $1,700 for Bill (who is a half-time student) and $6,100 for Tiffany.

  1. What education tax credits are available if Walt and Deloris report modified AGI of $118,300?
  2. What education tax credits are available if Walt and Deloris report modified AGI of $118,300 and Tiffany is taking one class a semester (is less than a half-time student) and not taking classes in a degree program?

Complete this question by entering your answer in the tabs below.

  • Required a
  • Required b

What education tax credits are available if Walt and Deloris report modified AGI of $118,300? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)

Dependent Amount of Credit Type of Credit
Bill $2,325selected answer incorrect AOTCselected answer correct
Tiffany $1,250selected answer incorrect Lifetime learning creditselected answer correct
Total $3,575
  • Required a
  • Required b

Complete this question by entering your answer in the tabs below.

  • Required a
  • Required b

B- What education tax credits are available if Walt and Deloris report modified AGI of $118,300 and Tiffany is taking one class a semester (is less than a half-time student) and not taking classes in a degree program? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.)

Dependent Amount of Credit Type of Credit
Bill not attempted not attempted
Tiffany not attempted not attempted
Total $0
  • Required a
  • Required b

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