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WILLIAM AND PAULINE, AGES 48 AND 47, FILE A MFJ RETURN IN 2020. THEIR AGI IS 90,000. THEY HAVE TWO CHILDREN IN COLLEGE. MARY
WILLIAM AND PAULINE, AGES 48 AND 47, FILE A MFJ RETURN IN 2020. THEIR AGI IS 90,000. THEY HAVE TWO CHILDREN IN COLLEGE. MARY IS IN HER 7TH YEAR OF COLLEGE, HER TUITION IS 6,000, BOOKS 1,000 AND ROOM AND BOARD 5,000. PAUL IS IN HIS 6TH YEAR OF COLLEGE. HIS TUITION IS 3,000, BOOKS 200, AND ROOM AND BOARD 1,000. WHAT IS THE TOTAL AMOUNT OF EDUCATION CREDIT WILLIAM AND PAULINE CAN CLAIM AND WHICH CREDIT CAN THEY USE? 1,800 Lifetime Learning tax credit 1,800 American Opportunity tax credit 2,500 American Opportunity tax credit 2,500 Lifetime Learning tax credit
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