Question
In 2020, Laureen is currently single. She paid $2,360 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to
In 2020, Laureen is currently single. She paid $2,360 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,360 each for a total of $4,720). Sheri and Meri qualify as Laureens dependents. Laureen also paid $1,730 for her son Ryans (also Laureens dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,230 for herself to attend seminars at a community college to help her improve her job skills. (Leave no answer blank. Enter zero if applicable.)
a. What is the maximum amount of education credits Laureen can claim for these expenditures? Laureen's AGI is $45,000. If Laureen claims education credits for her three children and herself, how much credit is she allowed to claim in total? If she claims education credits for her children, how much of her childrens tuition costs that do not generate credits may she deduct as for AGI expenses?
American opportunity Tax credit? (its not 5940)
Lifetime learning credit? (246 is the correct answer)
For AGI deduction? (its not 6186)
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