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my Anthony (27) and Nicole (26) are married and filing a joint return. Both Anthony and Nicole were full-time students all year at State College,

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my Anthony (27) and Nicole (26) are married and filing a joint return. Both Anthony and Nicole were full-time students all year at State College, located at 11100 College Boulevard, Your City, Your State. During the year, Anthony paid $5,000 in tuition and fees, substantiated with Form 1098-T. Nicole paid $3,800 in tuition and fees, also substantiated with Form 1098-T. Both Anthony and Nicole have part-time jobs outside of school. They did not receive any scholarships during the year. Their adjusted gross income is $47,000. Their total tax on line 12a of their federal Form 1040 is $2,327. They had no additional taxes. Both Anthony and Nicole meet all the requirements to qualify for the American Opportunity Tax Credit. Complete Form 8863. Education Credits (American Op- portunity and Lifetime Learning Credits) for Anthony and Nicole. You should also complete the Credit Limit Worksheet, shown below (a copy is also provided in the workbook). You will need to refer to the completed forms to answer questions about this scenario in Part 1 of the Final Test 2018 FORM BB CREDIT LIMIT WORKSHEET- LINES 18 and 19 NONREFUNDABLE CREDIT WORSE X my Anthony (27) and Nicole (26) are married and filing a joint return. Both Anthony and Nicole were full-time students all year at State College, located at 11100 College Boulevard, Your City, Your State. During the year, Anthony paid $5,000 in tuition and fees, substantiated with Form 1098-T. Nicole paid $3,800 in tuition and fees, also substantiated with Form 1098-T. Both Anthony and Nicole have part-time jobs outside of school. They did not receive any scholarships during the year. Their adjusted gross income is $47,000. Their total tax on line 12a of their federal Form 1040 is $2,327. They had no additional taxes. Both Anthony and Nicole meet all the requirements to qualify for the American Opportunity Tax Credit. Complete Form 8863. Education Credits (American Op- portunity and Lifetime Learning Credits) for Anthony and Nicole. You should also complete the Credit Limit Worksheet, shown below (a copy is also provided in the workbook). You will need to refer to the completed forms to answer questions about this scenario in Part 1 of the Final Test 2018 FORM BB CREDIT LIMIT WORKSHEET- LINES 18 and 19 NONREFUNDABLE CREDIT WORSE X

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