Walt and Deloris, who file a joint return, 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 $3,700 for Bill (who is a half-time student) and $7,100 for Tiffany.

Required:

What education tax credits are available if Walt and Deloris report modified AGI of $123,300?

What education tax credits are available if Walt and Deloris report modified AGI of $123,300 and Tiffany is taking one class a semester (is less than a half-time student) and not taking classes in a degree program?