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How much of an Lifetime Learning Credit could the following family take? The following information is from their tax return prior to the credit. I.
How much of an Lifetime Learning Credit could the following family take? The following information is from their tax return prior to the credit.
I. Parents tax = $2,000, married filing joint
II. Two students / dependents / children / twins in freshman year of college, one is full time, the other attends 2/3 time.
III. Eligible expenses = $5,000 for full time student; $1,500 for 2/3 time student.
Select one:
a.
$2,000
b.
$4,000
c.
$1,300
d.
$3,600
e.
$3,500
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