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 $3,900 for Bill (who is a half-time student) and $7,800 for Tiffany.

Required:

1. What education tax credits are available if Walt and Deloris report modified AGI of $119,700?
2. What education tax credits are available if Walt and Deloris report modified AGI of $119,700 and Tiffany is taking one class a semester (is less than a half-time student) and not taking classes in a degree program?

Required a Required b What education tax credits are available if Walt and Deloris report modified AGI of $119,700? (Do not round intermediate calculations. Round your final answers to the nearest whole dollar amount.) Dependent Amount of Credit Type of Credit Bill $ Tiffany 2,475 AOTC Lifetime learning credit 2,475 Total $