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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