Question

In 2018, Laureen is currently single. She paid $2,600 of
qualified tuition and related expenses for each of her twin
daughters Sheri and Meri to attend State University as freshmen
($2,600 each for a total of $5,200). Sheri and Meri qualify as
Laureen’s dependents. Laureen also paid $1,850 for her son Ryan’s
(also Laureen’s dependent) tuition and related expenses to attend
his junior year at State University. Finally, Laureen paid $1,350
for herself to attend seminars at a community college to help her
improve her job skills.

What is the maximum amount of education credits Laureen can claim
for these expenditures in each of the following alternative
scenarios? **(Leave no answer blank. Enter zero if
applicable.)**

**a.** Laureen's AGI is $45,000.

Answer #1

**Solution:**

a) Laureen's AGI = $45,000

For 2 daughters =

AOTC is

= ($2,000 * 2 child) + ($600 * 25% + 2 child)

=$4,000 + $300

=$4,300

For Ryan = $1,850

**AOTC = $6,150**

Laureen lifetime learning credit - Eligible is $2,000 (The amount of the credit is 20% of the main $10,000 of qualified training costs or a most extreme of $2,000 per return)

so in above case it is
**$1,350 * 20% =$270** (Since AGI is underneath clasp
of $56,000 he can guarantee same)

= $6,150 + $270

**= $6,420 is eligible
deduction.**

In 2019, Laureen is currently single. She paid $2,800 of
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daughters Sheri and Meri to attend State University as freshmen
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Laureen’s dependents. Laureen also paid $1,900 for her son Ryan’s
(also Laureen’s dependent) tuition and related expenses to attend
his junior year at State University. Finally, Laureen paid $1,200
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