Question
In 2018, Laureen is currently single. She paid $2,800 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to
In 2018, Laureen is currently single. She paid $2,800 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,800 each for a total of $5,600). Sheri and Meri qualify as Laureens dependents. Laureen also paid $1,900 for her son Ryans (also Laureens dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,200 for herself to attend seminars at a community college to help her improve her job skills. What is the maximum amount of education credits Laureen can claim for these expenditures in each of the following alternative scenarios? (Leave no answer blank. Enter zero if applicable.)
a. Laureen's AGI is $45,000.
American opportunity credit | |
Lifetime learning credit |
b. Laureens AGI is $95,000.
American opportunity credit | |
Lifetime learning credit |
c. Laureens AGI is $45,000 and Laureen paid $12,000 (not $1,900) for Ryan to attend graduate school (i.e, his fifth year, not his junior year).
American opportunity credit | |
Lifetime learning credit |
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