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The Jameson family has the following higher education expenses in a tax year. All of the expenses are qualified expenses for the applicable American Opportunity

The Jameson family has the following higher education expenses in a tax year. All of the expenses are qualified expenses for

the applicable American Opportunity Credit and/or Lifetime Learning Credit. These expenses are not being used for any

other tax advantage.

Expenses Notes

John (father) $2,500 tuition for part-time MBA

Judy (mother) $1,700 courses toward MSE; Judy is a teacher.

Rachel (child) $3,500 third year, full time in BA program in art

Ben (child) $4,000 second year, full time in BS program in biology

Jenna (child) $2,000 first year, half time in BSBA program in accounting

a. Assuming they qualify by AGI, which and how many educational credits can the Jameson family take?

b. What is the total amount of educational credits that the Jamesons might take?

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