Question
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
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:
What education tax credits are available if Walt and Deloris report modified AGI of $119,700?
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?
The answer for Tiffany is not $1,560 or $2,500. I have tried both :(
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 $ 2,475 AOTC Tiffany Lifetime learning credit Total 2,475
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