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Walt and Deloris have two dependent children, Bill and Tiffany. Bill is a freshman at State University, and Tiffany is working on her graduate degree.
Walt and Deloris have two dependent children, Bill and Tiffany. Bill is a freshman at State University, and Tiffany is working on her graduate degree. The couple paid qualified expenses of $2,700 for Bill (who is a half-time student) and $6,600 for Tiffany. What is the amount and type of education tax credits that Walt and Deloris can take, assuming they have no modified AGI limitation?
DEPENDENT | AMOUNT OF CREDIT | TYPE OF CREDIT | |
BILL | ? | ? | |
TIFFANY | ? | ? | |
TOTAL | ? |
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