Reference no: EM133077736

Question - Billy has two college-age children, Pete, a freshman at State University, and Abigail, a junior at Northwest University. Both Pete and Abigail are full-time students. Pete's expenses during the 2019 fall semester are as follows: $2,400 tuition, $250 books and course materials, and $1,600 room and board. Abigail's expenses for the 2019 calendar year are as follows: $10,200 tuition, $1,200 books and course materials, and $3,600 room and board. Tuition and the applicable room and board costs are paid at the beginning of each semester.

Required - Billy is married, files a joint tax return, claims both children as dependents, and reports a combined AGI with his wife Allie of $114,000 for 2019. Determine Billy's able education tax credit for 2019.