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CORRECT = UPVOTE. THANKS Bradley has two college age children, Clint, a freshman (his first year in college) at State University, and Abigail, a junior
CORRECT = UPVOTE. THANKS
Bradley has two college age children, Clint, a freshman (his first year in college) at State University, and Abigail, a junior at Northwest University (her third year of college). Both Clint and Abigail are full-time students. Bradley is in graduate school. Clint's expenses for the year are as follows: $3,000 tuition and $500 books and course materials. Abigail's expenses for the year are as follows: $7,200 tuition, $1,200 books and course materials, and $4,500 room and board. Bradley paid $6,000 of tuition for graduate school and $600 for books. Bradley is married, files a joint tax return, claims both children as dependents, and has a combined AGI with his wife $140,000 for 2021. Determine the following, labeling every calculation clearly: A. Clint: 1. Which credit should he take? 2. Total eligible expenses: 3. Show calculation of maximum credit allowed: B. Abigail: 1. Which credit should she take? 2. Total eligible expenses: 3. Show calculation of maximum credit allowed: C. Bradley 1. Which credit can he take? 2. Total eligible expenses: 3. Show calculation of maximum credit allowedStep by Step Solution
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