Katrina's twins, Sheri and Meri, finished their first year of college during the tax year. She paid
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Katrina's twins, Sheri and Meri, finished their first year of college during the tax year. She paid $10,000 in educational expenses for Sheri at the local accredited university, which includes $6,000 in tuition and fees, $750 in textbooks and required course materials, and $2,250 in room and board. She also paid $4,000 of qualifying expenses for Meri at the local accredited community college, which includes $3,200 in tuition and fees, as well as $800 in textbooks. Katrina is single with an AGI of $91,000.
What amount of qualified education expenses can Katrina claim for the American opportunity credit?
Related Book For
South Western Federal Taxation 2017 Comprehensive
ISBN: 9781305874169
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young
Posted Date: