c. Laureen's AGI is $45,000 and Laureen paid $12,400 (not $1,900) for Ryan to attend graduate school (i.e., his fifth year, not his junior year). Description American opportunity tax credit Lifetime learning credit Credits
c. Laureen's AGI is $45,000 and Laureen paid $12,400 (not $1,900) for Ryan to attend graduate school (i.e., his fifth year, not his junior year). Description American opportunity tax credit Lifetime learning credit Credits
Chapter13: Tax Credits And Payment Procedures
Section: Chapter Questions
Problem 30P
Related questions
Question
please solve C
Transcribed Image Text:In 2021, Laureen is currently single. She paid $2,700 of qualified tuition and
related expenses for each of her twin daughters Sheri and Meri to attend State
University as freshmen ($2,700 each for a total of $5,400). Sheri and Meri qualify
as Laureen's dependents. Laureen also paid $1,900 for her son Ryan's (also
Laureen's dependent) tuition and related expenses to attend his junior year at
State University. Finally, Laureen paid $1,400 for herself to attend seminars at a
community college to help her improve her job skills.
What is the maximum amount of education credits Laureen can claim for these
expenditures in each of the following alternative scenarios? (Leave no answer
blank. Enter zero if applicable.)
a. Laureen's AGI is $45,000.
Description
American opportunity tax credit
Lifetime learning credit
Credits
Transcribed Image Text:c. Laureen's AGI is $45,000 and Laureen paid $12,400 (not $1,900) for Ryan to attend graduate
school (i.e., his fifth year, not his junior year).
Description
American opportunity tax credit
Lifetime learning credit
Credits
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