Question
In 2022, Laureen is currently single. She paid $2,640 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to
In 2022, Laureen is currently single. She paid $2,640 of qualified tuition and related expenses for each of her twin daughters Sheri and Meri to attend State University as freshmen ($2,640 each, for a total of $5,280). Sheri and Meri qualify as Laureen's dependents. Laureen also paid $1,870 for her son Ryan's (also Laureen's dependent) tuition and related expenses to attend his junior year at State University. Finally, Laureen paid $1,370 for herself to attend seminars at a community college to help her improve her job skills.
What is the maximum amount of education credits (American Opportunity Tax Credit and Lifetime Learning Credit) Laureen can claim for these expenditures in each of the following alternative scenarios?
Note: Leave no answer blank. Enter zero if applicable.
Required:
Laureen's AGI is $45,000.
Laureen's AGI is $95,000.
Laureen's AGI is $45,000, and Laureen paid $12,340 (not $1,870) for Ryan to attend graduate school (i.e., his fifth year, not his junior year).
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