Question: 1 . Shelly, single, is a full - time elementary school teacher. She is interested in learning the basics of information technology to improve her

1. Shelly, single, is a full-time elementary school teacher. She is interested in learning the basics of information technology to improve her current job skills and enrolled in a couple of IT courses at the local college. Shelly paid $3,500 for tuition and fees and $300 for textbooks from a local bookstore (not required by the institution). She received a Form 1098-T. Her AGI was $56,000, and her tax liability on line 16 of Form 1040 was $5,094 for 2023. Shelly has never been convicted of a felony for possessing or distributing a controlled substance. Which education credit and credit amount is Shelly eligible to claim?
a) American opportunity credit; $2,375
b) American opportunity credit; $2,450
c) Lifetime learning credit; $700
d) Lifetime learning credit; $760

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!