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John graduates from high school in 2018 and enrolls in a private college in the fall....

John graduates from high school in 2018 and enrolls in a private college in the fall. His parents pay $10,000 for his tuition and fees.

1) Assuming John’s parents have AGI of $162,000 and John attends full time, determine which education credit they can claim and the amount of the credit. Show supporting computations and Explain your answer.

2) Assuming John’s parents have AGI of $86,000 and John attends part time, determine which education credit they can claim and the amount of the credit. Show supporting computations and Explain your answer.

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