1. Darren paid the following expenses during November 2015 for his son Sean's college expenses for spring 2016 semester, which begins in January 2016:

Tuition................... $12,000

Housing..................... 8,000

Books......................... 1,500

In addition, Sean's uncle paid $500 in fees on behalf of Sean directly to the college. Sean is claimed as Darren's dependent on his tax return. How much of the above paid expenses qualify for the purpose of the American opportunity tax credit deduction for Darren in 2015?

a. $0.

b. $8,000.

c. $12,000.

d. $14,000.

2. Which of the following statements is incorrect?

a. Taxpayers who purchased qualified health insurance through the Marketplace may be eligible for a premium tax credit.

b. Taxpayers must apply the credit towards their health insurance premium.

c. The premium tax credit is designed to help eligible taxpayers pay some of their health insurance premium.

d. Taxpayers who receive a credit must file a federal tax return and attach Form 8962.

3. Dwayne is single with one dependent. He enrolled in a qualified plan through the Marketplace at a cost of $4,100 per year. His household income was $41,000. The SLCSP premium is $4,600. What is Dwayne's premium tax credit?

a. $500

b. $717

c. $1,217

d. $4,100