a. Laureen's AGI is $45,000. Description American opportunity tax credit Lifetime learning credit Credits
a. Laureen's AGI is $45,000. Description American opportunity tax credit Lifetime learning credit Credits
Chapter9: Deduct Ions: Employee And Self-employed - Related Expenses
Section: Chapter Questions
Problem 31P
Related questions
Question
Rahul
![Required information
[The following information applies to the questions displayed below.]
In 2023, Laureen is currently single. She paid $2,620 of qualified tuition and related
expenses for each of her twin daughters Sheri and Meri to attend State University as
freshmen ($2,620 each, for a total of $5,240). Sheri and Meri qualify as Laureen's
dependents. Laureen also paid $1,860 for her son Ryan's (also Laureen's dependent)
tuition and related expenses to attend his junior year at State University. Finally, Laureen
paid $1,360 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?
Note: Leave no answer blank. Enter zero if applicable.
a. Laureen's AGI is $45,000.
Description
American opportunity tax credit
Lifetime learning credit
Credits](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fab0905f0-c441-4a84-b304-06bc138e4fcb%2F404dca40-d09d-4321-a6ce-e8023cee668b%2Fiwkpj_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
In 2023, Laureen is currently single. She paid $2,620 of qualified tuition and related
expenses for each of her twin daughters Sheri and Meri to attend State University as
freshmen ($2,620 each, for a total of $5,240). Sheri and Meri qualify as Laureen's
dependents. Laureen also paid $1,860 for her son Ryan's (also Laureen's dependent)
tuition and related expenses to attend his junior year at State University. Finally, Laureen
paid $1,360 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?
Note: Leave no answer blank. Enter zero if applicable.
a. Laureen's AGI is $45,000.
Description
American opportunity tax credit
Lifetime learning credit
Credits
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