Question
Use the following information to answer items 15-18. The First family had the following (all tuition and fees) educational expenses. Their income is below applicable
Use the following information to answer items 15-18.
The First family had the following (all tuition and fees) educational expenses. Their income is below applicable AGI limits.
Cain (f/t freshman at Eden A&M) = $4,000 Abel (f/t sophomore at Euphrates Livestock Tech.) = $4,000
Eve (p/t Eden Law College student) = $5,000 Seth (f/t senior at Tigris State) = $2,000
15. Who can claim American Opportunity Credits?
16. What is the total amount of the American Opportunity Credits the First family can claim?
17. Can Eve claim a Lifetime Learning Credit? How much?
18. If Cain used money from his Coverdell ESA to pay the $4,000, how does this affect his situation?
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