What amount of qualified tuition will madison be allowed

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Reference no: EM132675462

Madison, 18, is in her first year of college. She lives with her parents and attends a local college. Madison's parents continue to claim her as a dependent since she is a full-time student and under age 24.

Madison paid the following amount for qualified tuition in 2019:

$2,100 in March for the summer semester (2019)

Her parents paid the following amounts for qualified tuition in 2019:

$3,500 in June for the fall semester (2019)
$3,300 in December for the spring semester (2020)

Problem 1: What amount of qualified tuition will Madison be allowed to use in calculating her 2019 American Opportunity Credit on her tax return?

Select one:

a. $8,900 This answer is incorrect. $9,500 is the correct amount of qualified tuition Madison would be allowed to use if she otherwise qualified.
b. $2,100
c. $ 0
d. $5,600

Reference no: EM132675462

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