Reference no: EM132665481
Problem 1: Shelly, single, is a full-time elementary school teacher. She is interested in learning the basics of information technology to improve her current job skills and enrolled in a couple of IT courses at the local college. Shelly paid $3,500 for tuition and fees and $300 for textbooks from a local bookstore (not required by the institution). She received a Form 1098-T. Her AGI is $56,000 and her tax liability on Form 1040, line 12a is $5,500. Shelly has never been convicted of a felony for possessing or distributing a controlled substance. Which education credit is Shelly eligible to claim and for what amount?
Select one:
a. Lifetime Learning Credit; $760
b. American Opportunity Credit; $2,375
c. Lifetime Learning Credit; $700
d. American Opportunity Credit; $2,450
Problem 2: Joshua is a 25-year-old graduate school student who paid $15,000 in tuition and fees to an eligible educational institution in 2019. He received a Form 1098-T. Joshua works part-time at a local firm and had wages of $22,500. He has no other income or nonrefundable tax credits. His tax liability on Form 1040, line 12a is $1,045. What is the amount of his education credit for 2019?
Select one:
a. $3,000
b. $1,045
c. $2,000
d. $2,500
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