Question: John and Mary, who file a joint return, have two dependent children, Bill and Tiffany. Bill is a freshman at State University, and Tiffany is

John and Mary, 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 $3900 for Bill (who is a half-tine student) and $7,800 for Tiffany.

  • What education tax credits are available if Bill and Mary report modified AGI of $117,300?

Dependent Amount of Credit Type of Credit

Bill

Tiffany Lifetime Learning Credit applies (Tiffany does not qualify for AOTC because she's not in her first 4 years of college so, LLCredit)

Total


My question is what is Bill and Tiffany's amount of credit?



Thanks

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