Determine charless available education tax credit

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Charles has two college-age children, karl, a freshman at state university, and rose, a junior at northwest university. Both karl and rose are full time students. Karl’s expenses during the 2014 fall semester are as follows: $2,400 tuition, $250 books and course materials, and $1,600 room and board. Rose’s expenses for the 2014 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. Charles is married, files a joint tax return, claims both children as dependents, and has a combined age with his wife of $114,000 for 2014. Determine Charles’s available education tax credit for 2014.

Reference no: EM13775276

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