What is the maximum education credit allowed to Burton

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Question - Burton and Kay are married, file a joint return with an AGI of $118,000, and have one dependent child, Tyler, who is a full-time student in a Master of Accountancy program. The following expenses relate to his costs of attendance in 2018:

Tuition and academic fees $20,000

Textbooks $1,500

Room and board $11,000

The tuition noted above is the gross amount charged before reduction for his $5,000 tuition scholarship.

Required - What is the maximum education credit allowed to Burton and Kay?

Reference no: EM132619521

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